February 26, 2025 • 33 mins
Financial advisors are turning to artificial intelligence to streamline their workflow, improve client engagement, and grow their businesses. In this episode, the Horsesmouth team explores how advisors are successfully integrating AI into their practices—and how you can do the same.
You'll learn how leading advisors are:
- Reducing administrative work by using AI for post-meeting notes, cutting a two-hour task down to 20 minutes.
- Delivering more impactful client meetings with AI-powered agenda creation and strategic planning.
- Improving marketing and business development with AI-driven website audits, automated client outreach, and content creation.
- Leveraging AI tools like ChatGPT, Claude, Gemini, and Perplexity to enhance efficiency and decision-making.
If you’re a financial advisor looking to work smarter, save time, and provide more value to clients, this episode is packed with actionable insights and real-world success stories.
Listen now to learn how AI is reshaping financial advising and how you can stay ahead of the curve.
Key Quotes:
"Advisors are now using AI to process their post-client meeting notes, turning a two-hour task into just 20 minutes. It’s completely transforming how they work—saving time, improving accuracy, and letting them focus on what really matters: their clients."
"Advisors who integrate AI into their daily workflow are seeing massive efficiency gains, allowing them to spend more time growing their business instead of getting stuck in administrative tasks."
Resources and Links:
- Learn more about the AI-Powered Financial Advisor Program: horsesmouth.com/ai
- Check out our AI Marketing for Advisors Workshop: horsesmouth.com/aimarketing
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
(00:00):
Welcome, everybody, today to theAI revolution
in financial advisorytrends and transfer automation.
So if you are curiousabout how other advisors are using
AI and about the kind of results, thatthey're achieving and how you can achieve
the same thing, then this is going to bea value packed discussion for you.
(00:21):
I am Doug Pearce
and I am joined by my horse's Mouthcolleagues, Sean Bailey and Devin Kropp.
And guys, let's kind of start bylooking at at the landscape a little bit.
So we've done surveying,and that has shown
that nearly 60% of advisorsnow use AI tools.
Okay.
With some achievinglike I said, remarkable results.
(00:41):
But before we dive into the numbersin detail,
can you guys share brieflysome highlights, some wow factor type
examples of the kind of resultsthat advisors have achieved,
transforming their practices with AI?Yeah.
Thanks, Doug.
I'll start with, 1 or 2and then toss it over to Devin.
You know, one thing,that is saving advisors enormous
(01:03):
amounts of time is using AI
to, processtheir post client meeting notes.
Okay, you sit down with a couple, whetherthey're a prospect, or your client,
you have a meaty, meaningful
45 minutes to a 90 minute, meetingwhere you're discussing,
(01:25):
you know, a range of things from financialplanning, investment management,
critical,
to do issues in people'slives relating to,
you know, taxes or you know,
for pre retirees, Social Security,Medicare, health care planning.
I mean, there's there's a lot. Right.
Any advisor out there listening knows,
(01:45):
the landscape and the number of itemsthat can be covered.
Who his clients in a meeting.
The meeting ends and, ayou need to memorialize, the meeting,
for your your records and your CRM,and for follow up, with the clients
and for assigning to your team
any particular tasks thatmight have emerged in the conversation.
(02:09):
And also for the clients, too.
Sometimes they've got to do things like,you know, complete.
You know, power of attorneyor beneficiary forms or,
you know,and a whole range of things. Right.
That can take a couple of hours, easily,in post meeting
in terms of going over your notes, maybetalking with your power planner, somebody,
you know, figuring out that you'reyou have everything captured and then,
(02:31):
it needs to be organized and, follow upemails need to be drafted, etc.
this could take a couple of hours.
Advisors are now using a AI
to, they're collaboratingwith AI on their post meeting notes.
And things
that would take two hours are now taking,you know, 20 minutes to get it.
80% done in another 10 or 15 minutes to,get it double checked and smoothed out.
(02:57):
And so this is a huge amount of savings,time savings for advisors.
It's totally rocking, advisors worldwhen they discover it.
And this is something, you know, later onthe program, we'll talk about our
AI powered financial advisor, program,which kicks off a week from Thursday.
It's a four week, program.
(03:17):
And where we're basicallyit's like introduction to AI for advisors.
And so this client,this client meeting notes
process is something we go into in depth.
And we even show peoplehow to create their own specific,
AI tool to assist them, with this, notetaking collaboration, in the program.
So advisors love that.
(03:38):
Absolutely jaw dropping.
And, they're, many of them are,implementing it, you know, immediately
because, you know, you're in the program
and it's two hoursand maybe later that day
or the first thing tomorrow morning,you're actually having a client meeting.
So things that you learned in the programcan be, tried out, the next day.
And, it's very
rare to run into a situation like thatgetting when advisors are getting,
(04:01):
you know, great resultsand, great enthusiasm around that topic.
But the other interesting thing,before I throw it over to Devin, the other
interesting thing is for advisors
who are collaborating with the AI models.
When I say AI models,I mean ChatGPT, Claude
Gemini, those are the kind of the threebig ones out there people have heard of.
(04:22):
They're collaborating with AI around,
possible tricky, planning and investmentissues, in advance of a client meeting.
And, this is something that, peoplereally, hadn't really thought about.
But in essence, advisors are, using theAI models
as a sort of,a partner or an additional advisor.
(04:45):
And they're are having,detailed conversations about,
without using personal identifiableinformation because it's always comes up.
Right. You're just talking about,you know, I got Joe coming in tomorrow.
Joe is been,you know, a client for 15 years,
and Joe has just,is about to sell an apartment complex
that he's had invested, know he's,he's invested in for more than 30 years.
(05:05):
And so it's gonna bea big liquidity event.
And, so we need to create a meeting agenda
and explore, you know, what our optionsare going to be.
And IT advisor tees off a tees upa conversation with the AI model about Joe
and some of the characteristicsof the planning and investment challenges,
and are having very deepand meaningful, conversations with the
(05:29):
AI model that then result in the advisor,asking for a very specific agenda.
So we're talking about very personalized,client agendas.
And again, advisors who are doing thisare saying a it's absolutely amazing.
Be the client.
Come out of the meeting like, wow, that'sone of the best meetings we've ever had.
And see, these kinds of things,many advisors,
(05:52):
you know, have only scratchedthis would have only been able
to scratch the surfaceif it hadn't been without the AI model.
But with the AI model, they're, you know,they're they're uncovering things and
having you know, these highly structured,and useful and in-depth, meeting agendas.
So, you know,that is another powerful aspect.
(06:12):
And this is going to be the future ofAI that hardly anybody
is really talking about right nowfor any variety of reasons.
But, you know,
there's these repetitive tasksthat can say this huge amounts of time.
That's whatthe program is really focused on.
But over the long term,the bigger picture to me
is, adding, to your business,a virtual partner
(06:35):
who brings, you know,massive intellectual firepower.
To the table, and in a way that, you know,no one has ever experienced before.
So those are a couple of huge thingswe'll get into later on.
But, Devin, what do you think?
What what what what what's some,wow things you've seen?
Yeah,I think those are some great examples.
Especially,you know, dealing with the kind of client
(06:55):
engagement sideof how to use AI to improve that process.
But I would say going through,you know, the progress
training programs we've done nowwith nearly 100 advisors,
another area where I see I really being awow factor for a lot of them is in
kind of more of the marketing and practicemanagement side of the business as well.
We know that for many advisors,this area has always kind of been a pain
(07:19):
point of, do I have enough timeto really pull off a full marketing plan?
Do I have time to deal with my website?
And, one thing we've gone throughin the program with the advisors
we've trainedis doing a full website audit using AI.
And this is something that,
you know, we give our advisorsthe tools to complete this.
And, you know, just a few minutes,where I will actually run through
(07:42):
each page of their websiteand do a really comprehensive,
audit of everything on there, from SEO to,
you know, the consistency of languageto call to action
and everything that you would do,
and give advisors feedbackand also a priority list
of what they should work onto improve their website.
And this is something that withoutI advisors would most likely
(08:05):
be using a consultant that would costprobably thousands of dollars for them
to have a complete website audit done,and then still have to go
and make those changes.
And now, you know,while we're not at the point
where I can go in and make those changesfor them yet, at least
they have a detailed priority action plan,to give to their website developer
or whoever on their team dealswith their website of small changes
(08:28):
that they can make,
that they got in just a few minutesand for, you know, the cost of maybe their
their premium subscription to ChatGPTas opposed to thousands of dollars.
So I think for many advisors
who have gone through the programand completed that website audit,
they are really shocked by the feedbackthat they get and how,
they can implement changes pretty easilyand quickly rather than going through,
(08:49):
you know, the old way of improvingyour website into it and all of that.
Okay.
And so advisors are,they are getting on board, right?
They're starting to adopt, these tools.
At a greater pace here.
We see that ChatGPT usage among advisors
has increased from 47% to 57%.
Okay, that's betweenJune 2024 and February 2025,
(09:11):
and Nonusers dropped from 35% to 29%.
So what do you twothink is driving this acceleration?
Obviously at some of the resultsand what's possible that you guys just
just talked about.
But what do you thinkare the main driving factors here?
And then what are some of the remainingbarriers, that are preventing
some advisors from not, get on the train?
(09:32):
Yeah. Doug, it's, it's really interesting.
So, we're in the middle of,we're in the middle.
We did a survey six months ago.
I think it was a pool of 500 advisorsthat's statistically valid.
And, you know, we've made some baselinesabout AI usage, and,
now we're at right now.
So I have preliminary results.
We haven't hit
our statistically significant, number yet,but there were about halfway there.
(09:54):
And, yeah, we're seeing
dramatic, increases in usage.
I'm particularly pleased by the number
of advisors who are using AI daily.
Okay.
Because, if you're using a, once a weekor a couple times a month,
it indicates to methat you still do not have,
(10:18):
a working understandingof how powerful the tool is
and how much you can do for youas an advisor.
So to me, the measure of,
you know, AI usage and sophistication
is the degreeto which advisors are using it daily.
Okay.
And so we have gone from a last spring,
(10:42):
sort of our survey was like May, June,where we had about
12% of advisorswho were using AI at least once a day.
Now, I think it's up to, you know, 26%.
So it's more than doubled.
Okay.
And, you know, that is a great signthat, people
(11:02):
are understanding,you know, the huge power of these tools.
And so, that is, you know, one
big factor,the other thing is, we continue
to have this middle range of advisorswho are using it,
using AI tools once a week,
(11:24):
once a month, a couple times a month.
And, you know, that chunk is still,I think, in the 40% range.
Which is fine.
Because we are also seeing the numberof advisors who say they've never used
AI is shrinking.
I think that was 40%last spring saying never use AI.
Now under this, you know, preliminaryresults, it's coming down to about 37.
(11:47):
But there's this whole middlepack of advisors who are basically
have dabbled in it and,when I see that someone has dabbled in it
and they're just using it a tiny bit hereor there, it just, it indicates to me
that they haven't seen or learnedthe use cases
and that those advisors who we nowsee, we've seen a doubling of people
(12:08):
who are using it daily, they have seenthe use cases, they have learned,
the absolute power of this thing,and they've learned to integrate it
into their daily workflow and are gettinghuge gains as a result of it.
So, you know,I think, you know, that's kind of,
you know, the,the big thing that jumps out to me.
And don't.
Devin, do you have any other observationsyou may want to make on that front?
(12:31):
Yeah, I think that, you know,we definitely have seen an uptick in it.
And I think maybe some of the hesitationamong advisors still lies
in, not fully understandingthe power of good prompting.
I think that, for many advisorsor people in general
who are just kind of dabbling in AI andgoing to it once a month or something and,
(12:53):
don't exactlyknow how to format their prompts,
are sometimes unimpressedwith the results that they get.
They're using ChatGPT like Google,and that's not the way, to use it.
And so when you get resultsthat are subpar from a, you know, a prompt
that isn't really, optimizingthe large language model like ChatGPT
or Claude,you're probably going to be a little bit
(13:14):
unimpressedwith the results that come back.
And so that's whywe spend so much time in the program
talking about promptingand how to format prompt,
because your output is only going to beas good as your input.
And there is a little bit of a learningcurve and some really important
knowledge baseto have around around prompting.
And I think as people learn moreabout prompting and as AI becomes
(13:35):
more integrated and regular programsthat we use, we're going to continue
to see that uptick, among,you know, advisor usage, right?
Yeah.
I'm glad you, glad you mentioned it,because it gives me
an opportunity to, mentiona couple things.
One, the thing that is jaw droppingthat, you know, we do spend
time, emphasizing in our, you know,we have two AI programs right now.
The one that starts, next week
(13:56):
is basically it's called the A, the,AI powered financial advisor.
It's basically introduction to AI.
You learn how to prompt,you learn a little bit
about how you use it in client engagement,how to use it in client,
client meetings in marketing, and,and work with your team on it.
The other program,we have a five week program.
It's basically intro to AI marketing foradvisors, and it's all about marketing.
(14:19):
And in both those programs, naturally,
in the beginning,we spend a lot of time on prompting.
So what exactly is prompting?
Prompting?
Is it no code coding? Okay.
What I mean by that is that these machinesunderstand English language.
Okay.
And so, when you realize, oh,
(14:41):
if I can, write in English
for 5 or 6 sentencesand the sentences are,
driving my interaction with the AI model
by following a particular structure,
the kinds of results that I can get back,you know, they're absolutely amazing.
(15:01):
These, you know,the big breakthrough with AI is that,
this is natural language processing,the ability for the
the AI modelsto speak to us in very fluent
English languageand for them to understand us
responding in Englishand then do very powerful things.
(15:22):
And so, it is,you know, that aspect of it,
the prompting that is,you know, really important.
The other thing that Devin pointed out wasit does take a little bit of time.
Ethan Malik is a, you know, New York Timesbestselling author,
professor at the, Wharton Schoolat the University of Pennsylvania.
And he said, any knowledge worker?
Okay. We're all knowledgeworkers. We're sitting at our computers.
(15:42):
We're thinking all day long, we're typing.
Any knowledge worker, needs about eight
hours, 8 to 10 hours of really,you know, experimenting with it
and learning somethingabout how these AI models work.
And once you get through that eighthours, the, you know,
the world of possibilitiesthen opens up to you
(16:03):
because you've been empowered to,really understand how to use these tools.
And it's Devin is saying there,you know, the base of all of this is
how do you talk to these modelsand you talk to these models with this
no code coding, which we call prompting,which is just writing some sentences
and communicating backand forth with the model.
And that's what's really big.
Yeah. Okay.
And of course, it's not just ChatGPTthat advisors are starting to use here.
(16:26):
So maybe briefly, we can just mentionthe fact that, you know, Google Gemini,
it's gone from 3% to 15%, of usage,for advice.
Yes, yes. Right. Claude. 1 to 7%. Right?
Right. Yeah.
And those two, six months ago,basically, advisors knew about ChatGPT
basically,I think like 3% of them knew of, Gemini
(16:47):
and 1% of them knew ofI knew about Claude.
Now, like you said, weI think we like 15%.
And, went from 3 to 15%.
Claude went from 1 to 7%.
And also perplexity. Right.
We spent time in both of our AI programsintroducing advisors
to perplexity as well.
Perplexity is an AI search answer machine.
(17:10):
Really? It's.
You can think of it in terms of,
what would happenif, Google had a baby with ChatGPT.
So it is both an AI model,with a large language model underneath.
It has the same abilities
to, you know, speak back to you,right back to you, fluently.
You engage it, in the same way.
But it, also, gives you,a lot of citations.
(17:32):
So, for instance, I do my research.
Anything I'm workingon, I, do my research with perplexity,
because the results are cited,
and, then I tend to port over
any interesting informationthat I need in my research,
that I want to then,you know, engage with a Claude or ChatGPT.
(17:52):
I kind of take it over from,from perplexity.
So anyway, the point is that, perplexity,people have gone from 2 to 12%.
So what?
This shows to meis that there is, you know, you know,
a nascent movement of among advisorsthat they're breaking out of a year ago.
I mean, six months ago,it was like ChatGPT.
And that was about it.
Now they're realizing,
and this is important, too,because ChatGPT has massive install base,
(18:16):
their first to market,they'll probably continue to dominate.
Our programs are all, caught on on the GPTplatform.
But, the fact that more advisorsare becoming familiar
with Claude, with perplexitywith Gemini, indicates to me again
that and by the way,
I would suggest that the peoplewho are familiar with
those are probably the ones who are using
(18:36):
AI models, once a daybecause they're so, blown away by it
that they start paying attentionto a little more.
The, you know, the AI headlines,of course, are everywhere, but,
I think they start paying attentionto a news about Claude or what
Google is doing,
and they're digging aroundand they're realizing,
okay, these other models exist as well.
They're also very powerful and useful.
(18:57):
So, we're starting to see,
you know, a maturation among advisorsin terms of beginning to develop,
you know, sophisticated,understanding of the power of these tools.
Okay.
Well, let's start getting intosome of the, you know, specific,
areas of an advisor's businessor what an advisor does,
and how advisors are using, these AI toolsto help them become more efficient
(19:18):
and deliver better results.
So client communication.
All right.
40% of advisors now use AI for clientemails and communications.
Okay.
So do you guys have any specific examplesof how advisors are changing
the client relationshipsand their efficiency around communication?
Yeah.
Well, you know,
(19:39):
you know, putting aside, the processingof client meeting notes and then writing,
you know, a well-structured, follow upemail, advisors are using,
you know, you people are using ChatGPTor the other AI models.
To, craft emails
to all sorts of different people,not just their clients, but their staff.
And what is, you know, powerful about itis that, listen,
(19:59):
some advisors are fluent writers, but,you know, I've been in this
I've been in this industryfor more than 20 years.
And, you know, advisors, you know, are,they don't make any, secret about it.
They like you know,some of the, like, hey,
you know,writing really isn't my strong suit.
That's why I got into, you know, sortof numbers, and, and so people nonetheless
(20:20):
have a need to write, federal professionalemails around certain, situations.
And what is so great about itis that all you need is to know
your basic bullet points, right, of whatyou want the email to address.
Okay.
And so these can be,you know, half sentences
(20:40):
that have, you know, key phrases in them.
And you can, put those, you know, 3or 4 jotted points that you want to make
because maybe you were talkingon the phone with a client
or did a little researchfor a client about something.
And now you want to you get back to them.
And so it's very, easy to just take your,
(21:01):
you know, shorthand notes onwhatever topic,
or sometimes you could even be doingresearch, on perplexity or some other,
and you can kind of like,cut and paste this stuff
and you put it into the I model,and then you give it a prompt.
I had a meeting with Doug.
Doug was asking questions about,you know, some of the.
Yeah.
Or can they really effectively use five,20 times to pay for their kids college?
(21:24):
Are there some ideas?
Are there some other waysthey could use his parents,
his grandparents, IRAor whatever the case may be?
And you can, like, take some of thisin from you can just say to the
am I talking with my client, Doug, about,well, funding 529
things for his kids and college planning,and he wanted some additional research.
And you just throw the additional researchin and say, you know, act as a skilled,
(21:45):
writer, right? That's your role.
And then meeting with Doug, and here'sthat, here's the background.
Ding ding ding ding ding.
Give me a, you know, well formatted,you know, a follow up email.
And, yeah.
And then you hit the buttonand then you get a draft.
Okay.
But you'll instantlyget a very good draft,
especially for people who, you know,sort of struggle or challenge by writing.
(22:08):
Would have taken a half an hourand now you've got it in like 45 seconds.
And you still need to be the humanin the loop, right?
That's a phrasethat I use all, all the time.
And, meaning the eye is just donean amazing thing for you.
It saved you a ton of time.
Now you need to read through that draft
and, you know, double checkthat you're good with everything.
(22:30):
Before you send that email out the doc.
So, I mean, I think that is, you know,definitely one example relating
to client communications and anything elsecome to mind on your own?
Yeah.
Also add I think that's a great exampleof the 1 to 1 communications.
But we also have advisors
who are using AI for kind of their massclient communications as well.
So things like invitations to clientappreciation events or educational events,
(22:52):
you know, you can easily promptthe AI model to come up with that.
Or as well as, you know,something that I think advisors know
that they have to dobut often don't have the time to do are,
really send out like personalized emailsto different segments on their list.
So, for example, if you have, you know,clients, you're going to be turning 65
in the next year and you want to send outsome Medicare resources.
(23:13):
Having the AI kind of craftthose different messages
for people in different groupswhere that could take you, you know,
a couple of hours to do on your own.
You know, you'regetting a really good draft from AI to.
So I think it's really powerful for that1 to 1.
But also, you know, to have an uptickin your mass client communications.
Two or to send emailsto specific, portions of your list.
(23:35):
AI can be a great help for that as well.
Yeah.
That reminds me of, somebody from our lastfrom our AI marketing program
where we spend, a good deal of timedoing something
that, I think practically, you know,no advisors have ever done.
And that is creating a message
platform, a custom message platformabout your business.
What is the message platform?
It's like 26 key,marketing message elements
(23:58):
that you may useat various times in your marketing.
And one of, one aspects,one aspect of this was,
you know, additionally,having ideal client, personas.
Right.
This one advisor in the program,I was, like, blown away
by you know,the AI model had created this.
Excellent.
Client profile, ideal persona.
(24:19):
Ideal client persona.
And then the model offeredto create a little case study.
After it did, after it. After it.
You know,the advisor answered all these questions.
Then the model comes back and says,okay, here's like, you know, one of three
different types of ideal client personasthat you have in your book.
And the advisor is lookingsays, boom, that is perfect.
(24:40):
Then the am I said, I should I go aheadand create a case study narrative,
you know, a sort of theoretical narrativeof how you work with this kind of client.
And he says, yes, absolutely.
Because I'm meeting with somebody tomorrowwho fits this profile perfectly.
And so then it created this,case study narrative,
and then it asks the, the AI model to,go ahead and kind of create an email
(25:04):
that I can sendin advance to the, prospect,
explaining how I work with peoplejust like him.
And the advisor is totally blown awayby, the AI model did it.
He, edited it and sent it offand had great results.
So, yeah, that's yet another example of,the power on the, you know, client
engagement front, for sure.
And one thingthat kind of raises eyebrows is
that 22% of advisors are using AI
(25:28):
for help with sensitive clientcommunications, okay.
Something where you might not thinkyou would turn to AI for help,
but they're doing itand it can be very effective.
Right?
Yeah.
We've seen this a number of times,in our programs as well.
And so yeah, the 22% number was, was,was was really interesting.
(25:49):
Listen, you know, as an advisor, you're,you're embedded into people's
lives, right?
Somebody somebody gets sick, somebody getsfired, somebody gets retired.
Children.
A child gets in trouble, healthevent hits, all those kinds of things,
that sometimes require,you know, sort of delicacy and empathy,
in terms of, responding back to the clientand, and particularly
(26:11):
I think there was an advisorin, one of our programs earlier, late
last year who, I think had a clientwho revealed they had cancer.
And, you know, he was like,listen, you know, my, my,
my wife and my wife and,and, grown up daughters,
you know, tell me I'mnot the most empathetic guy in the world.
I know that.
(26:31):
And yet, I hear I have my client,my client has revealed,
you know, this very personal, thing.
And in the past,you know, would have pulled his hair out
for, you know, 30 minutes trying to sayjust the right thing.
To the client in response,because he knows that's not a strong suit.
And instead, he turned to the AI model.
(26:52):
He explained to the AI modelwhat the situation was
and asked for a draft email, response.
And he got a beautiful,empathetic, response.
He made some small changes.
He sent it off to the client,and the client was so grateful
and responded back to the advisor with,you know, huge amount of appreciation for,
for the warmth and insight that,an empathy that the advisor shared.
(27:14):
So that is, just one, one kind of big onekind of way to use it.
Right.
Other touchy situations could be,
you know,sometimes we have to fire clients, right?
Or clients can be, can be difficult.
And, you know, you need to, tactfully,
make some pointswithout making some enemies.
And again,the AI can be hugely, hugely helpful.
(27:37):
They're both in,you know, the creating that, excellent
communication,but also doing it very quickly.
Okay.
And so while we're in, clientcommunication, let's talk
a little bit about, meeting notesand how I could enhance, those.
It seems simple.
And this can be a good starting point.
I think, when you're trying to test drive,I what's possible here, in terms of
(27:58):
using getting more out of meeting notesand enhancing them.
Yeah.
You know, I sort of mentioned it
maybe a little and fairamount of detail at the top.
But, yeah, you, whether you are,whether you use handwritten notes like,
let's suppose you use handwritten notes,you're not recording your client meetings.
Okay.
And really recording to client meetings,I think is the way to go.
I see more and more advisors doing it.
(28:18):
I think compliance in some cornersis like, partly
struggling with this,but frankly, from my perspective,
I would be happy to have every meetingI have with my, advisor recorded.
So there's absolutely no questionabout what was ever discovered,
discussed in the past.
And, and so you, you have two approachesthere, right?
You to get a transcriptfrom a recorded meeting
or you have your handwritten notes,you could type up your hand notes.
(28:42):
But these AI modelsalso have strong visual capabilities.
So you literally could take you know,you're your iPhone, right?
And you could take your legal pad
and you snap a picture of the 2or 3 pages of notes
you upload those images into the AI modeland you go from there.
(29:04):
And in our programwe teach, we teach advisors,
you know, how to have some, quickbut effective back and forth with the
AI model about what it's saying,and then directing it
to go aheadand, create a summary of what it is
seen in, whether it's a transcriptor the visual images.
Create a summary.
Then, you know, make some very specificobservations about, next steps
(29:27):
or, you know, actions that needed to betaken, need to be taken.
And, and then from there, you know, we endwe end, there's a series of steps
that people go through, that typically endwith, okay, now,
draft a draft email to, you know, to Doug
and his wife about, you know, the meetingor whatever the case may be.
(29:49):
And again, these are all these drafts,you know, you're responsible for it.
You're the human in the loop.
But the amount of time that's savedis, is is just, you know,
it's actually shockinghow much time people are saving,
which then raises the bigger issueof which I call the AI dividend.
Right.
You could use these toolsto, just have massive time savings and,
(30:10):
you know, cut out of your office,Thursday afternoon and take Friday off.
Or you can. Yeah.
Depending on where you are in your career,you could then take the
I'll take this time dividendand apply it to your niche.
And then you could be usingAI to work at your niche.
And you can make huge progress there.
Or, you know, whatever the case may be,you take this additional time, to do other
(30:32):
things are going to drive, your businessgrowth or drive your business efficiency.
So, you know, it's,it's it's really powerful, Doug.
So, you know, the program is going to be,starts next Thursday, and, Doug,
I think you may have some linksto share with people as to
where they can goto find, more about the program.
I think it's, horse's mouth.com/ai
(30:56):
that will bring you to the AI poweredFinancial Advisor
Program landing page, where you learn moreabout what we're doing there and,
you know,hopefully we'll see people in the program
because it is there aren'tmany opportunities for specific,
advisortraining on how to use this technology.
AG we've been working.
We've been up to our elbows
in this stuff for the last couple years,and we didn't go public with it
(31:20):
in terms of working with advisorsaround this topic until this last July.
And, Devin was saying,we train more than well, we've trained,
over 100 in the AI powered program,in July, August and September, October.
And then we just had another 30
plus people who went through ourAI marketing program.
So anyway, this is your opportunity.
(31:40):
To, really be on the cutting edge of,
of, this new general purpose technology
that has such amazing usefulness in many,many areas.
So, anyway,anything else to say, Doug or Devin?
No, I just say I, I have the linkson screen, there in the description.
If you're watching this live, for youand, it's really great.
And to see the responses to the advisors
(32:03):
who are in these programs,it's like they're like, wow.
You know, it's, when they seewe've never seen anything like it.
And I have to sayand yeah, the first time I, you know,
I started out my career as a journalist,
and the first time I saw a Netscapebrowser in 1995,
I almost fell on the groundbecause I recognized instantly
what the heck this thing wasand what it could do.
(32:24):
And this is ten timesmore powerful than the Netscape browser.
So, anyway, come to our programand, you'll,
you'll learn how to become the AI poweredfinancial advisor, that's for sure.
Great. We'll leave it there.
Thank you for watching everybodyand have a great rest of your day.
Take care. All right.
Welcome, everybody, today to theAI revolution
in financial advisorytrends and transfer automation.
So if you are curiousabout how other advisors are using
AI and about the kind of results, thatthey're achieving and how you can achieve
the same thing, then this is going to bea value packed discussion for you.
(00:21):
I am Doug Pearce
and I am joined by my horse's Mouthcolleagues, Sean Bailey and Devin Kropp.
And guys, let's kind of start bylooking at at the landscape a little bit.
So we've done surveying,and that has shown
that nearly 60% of advisorsnow use AI tools.
Okay.
With some achievinglike I said, remarkable results.
(00:41):
But before we dive into the numbersin detail,
can you guys share brieflysome highlights, some wow factor type
examples of the kind of resultsthat advisors have achieved,
transforming their practices with AI?Yeah.
Thanks, Doug.
I'll start with, 1 or 2and then toss it over to Devin.
You know, one thing,that is saving advisors enormous
(01:03):
amounts of time is using AI
to, processtheir post client meeting notes.
Okay, you sit down with a couple, whetherthey're a prospect, or your client,
you have a meaty, meaningful
45 minutes to a 90 minute, meetingwhere you're discussing,
(01:25):
you know, a range of things from financialplanning, investment management,
critical,
to do issues in people'slives relating to,
you know, taxes or you know,
for pre retirees, Social Security,Medicare, health care planning.
I mean, there's there's a lot. Right.
Any advisor out there listening knows,
(01:45):
the landscape and the number of itemsthat can be covered.
Who his clients in a meeting.
The meeting ends and, ayou need to memorialize, the meeting,
for your your records and your CRM,and for follow up, with the clients
and for assigning to your team
any particular tasks thatmight have emerged in the conversation.
(02:09):
And also for the clients, too.
Sometimes they've got to do things like,you know, complete.
You know, power of attorneyor beneficiary forms or,
you know,and a whole range of things. Right.
That can take a couple of hours, easily,in post meeting
in terms of going over your notes, maybetalking with your power planner, somebody,
you know, figuring out that you'reyou have everything captured and then,
(02:31):
it needs to be organized and, follow upemails need to be drafted, etc.
this could take a couple of hours.
Advisors are now using a AI
to, they're collaboratingwith AI on their post meeting notes.
And things
that would take two hours are now taking,you know, 20 minutes to get it.
80% done in another 10 or 15 minutes to,get it double checked and smoothed out.
(02:57):
And so this is a huge amount of savings,time savings for advisors.
It's totally rocking, advisors worldwhen they discover it.
And this is something, you know, later onthe program, we'll talk about our
AI powered financial advisor, program,which kicks off a week from Thursday.
It's a four week, program.
(03:17):
And where we're basicallyit's like introduction to AI for advisors.
And so this client,this client meeting notes
process is something we go into in depth.
And we even show peoplehow to create their own specific,
AI tool to assist them, with this, notetaking collaboration, in the program.
So advisors love that.
(03:38):
Absolutely jaw dropping.
And, they're, many of them are,implementing it, you know, immediately
because, you know, you're in the program
and it's two hoursand maybe later that day
or the first thing tomorrow morning,you're actually having a client meeting.
So things that you learned in the programcan be, tried out, the next day.
And, it's very
rare to run into a situation like thatgetting when advisors are getting,
(04:01):
you know, great resultsand, great enthusiasm around that topic.
But the other interesting thing,before I throw it over to Devin, the other
interesting thing is for advisors
who are collaborating with the AI models.
When I say AI models,I mean ChatGPT, Claude
Gemini, those are the kind of the threebig ones out there people have heard of.
(04:22):
They're collaborating with AI around,
possible tricky, planning and investmentissues, in advance of a client meeting.
And, this is something that, peoplereally, hadn't really thought about.
But in essence, advisors are, using theAI models
as a sort of,a partner or an additional advisor.
(04:45):
And they're are having,detailed conversations about,
without using personal identifiableinformation because it's always comes up.
Right. You're just talking about,you know, I got Joe coming in tomorrow.
Joe is been,you know, a client for 15 years,
and Joe has just,is about to sell an apartment complex
that he's had invested, know he's,he's invested in for more than 30 years.
(05:05):
And so it's gonna bea big liquidity event.
And, so we need to create a meeting agenda
and explore, you know, what our optionsare going to be.
And IT advisor tees off a tees upa conversation with the AI model about Joe
and some of the characteristicsof the planning and investment challenges,
and are having very deepand meaningful, conversations with the
(05:29):
AI model that then result in the advisor,asking for a very specific agenda.
So we're talking about very personalized,client agendas.
And again, advisors who are doing thisare saying a it's absolutely amazing.
Be the client.
Come out of the meeting like, wow, that'sone of the best meetings we've ever had.
And see, these kinds of things,many advisors,
(05:52):
you know, have only scratchedthis would have only been able
to scratch the surfaceif it hadn't been without the AI model.
But with the AI model, they're, you know,they're they're uncovering things and
having you know, these highly structured,and useful and in-depth, meeting agendas.
So, you know,that is another powerful aspect.
(06:12):
And this is going to be the future ofAI that hardly anybody
is really talking about right nowfor any variety of reasons.
But, you know,
there's these repetitive tasksthat can say this huge amounts of time.
That's whatthe program is really focused on.
But over the long term,the bigger picture to me
is, adding, to your business,a virtual partner
(06:35):
who brings, you know,massive intellectual firepower.
To the table, and in a way that, you know,no one has ever experienced before.
So those are a couple of huge thingswe'll get into later on.
But, Devin, what do you think?
What what what what what's some,wow things you've seen?
Yeah,I think those are some great examples.
Especially,you know, dealing with the kind of client
(06:55):
engagement sideof how to use AI to improve that process.
But I would say going through,you know, the progress
training programs we've done nowwith nearly 100 advisors,
another area where I see I really being awow factor for a lot of them is in
kind of more of the marketing and practicemanagement side of the business as well.
We know that for many advisors,this area has always kind of been a pain
(07:19):
point of, do I have enough timeto really pull off a full marketing plan?
Do I have time to deal with my website?
And, one thing we've gone throughin the program with the advisors
we've trainedis doing a full website audit using AI.
And this is something that,
you know, we give our advisorsthe tools to complete this.
And, you know, just a few minutes,where I will actually run through
(07:42):
each page of their websiteand do a really comprehensive,
audit of everything on there, from SEO to,
you know, the consistency of languageto call to action
and everything that you would do,
and give advisors feedbackand also a priority list
of what they should work onto improve their website.
And this is something that withoutI advisors would most likely
(08:05):
be using a consultant that would costprobably thousands of dollars for them
to have a complete website audit done,and then still have to go
and make those changes.
And now, you know,while we're not at the point
where I can go in and make those changesfor them yet, at least
they have a detailed priority action plan,to give to their website developer
or whoever on their team dealswith their website of small changes
(08:28):
that they can make,
that they got in just a few minutesand for, you know, the cost of maybe their
their premium subscription to ChatGPTas opposed to thousands of dollars.
So I think for many advisors
who have gone through the programand completed that website audit,
they are really shocked by the feedbackthat they get and how,
they can implement changes pretty easilyand quickly rather than going through,
(08:49):
you know, the old way of improvingyour website into it and all of that.
Okay.
And so advisors are,they are getting on board, right?
They're starting to adopt, these tools.
At a greater pace here.
We see that ChatGPT usage among advisors
has increased from 47% to 57%.
Okay, that's betweenJune 2024 and February 2025,
(09:11):
and Nonusers dropped from 35% to 29%.
So what do you twothink is driving this acceleration?
Obviously at some of the resultsand what's possible that you guys just
just talked about.
But what do you thinkare the main driving factors here?
And then what are some of the remainingbarriers, that are preventing
some advisors from not, get on the train?
(09:32):
Yeah. Doug, it's, it's really interesting.
So, we're in the middle of,we're in the middle.
We did a survey six months ago.
I think it was a pool of 500 advisorsthat's statistically valid.
And, you know, we've made some baselinesabout AI usage, and,
now we're at right now.
So I have preliminary results.
We haven't hit
our statistically significant, number yet,but there were about halfway there.
(09:54):
And, yeah, we're seeing
dramatic, increases in usage.
I'm particularly pleased by the number
of advisors who are using AI daily.
Okay.
Because, if you're using a, once a weekor a couple times a month,
it indicates to methat you still do not have,
(10:18):
a working understandingof how powerful the tool is
and how much you can do for youas an advisor.
So to me, the measure of,
you know, AI usage and sophistication
is the degreeto which advisors are using it daily.
Okay.
And so we have gone from a last spring,
(10:42):
sort of our survey was like May, June,where we had about
12% of advisorswho were using AI at least once a day.
Now, I think it's up to, you know, 26%.
So it's more than doubled.
Okay.
And, you know, that is a great signthat, people
(11:02):
are understanding,you know, the huge power of these tools.
And so, that is, you know, one
big factor,the other thing is, we continue
to have this middle range of advisorswho are using it,
using AI tools once a week,
(11:24):
once a month, a couple times a month.
And, you know, that chunk is still,I think, in the 40% range.
Which is fine.
Because we are also seeing the numberof advisors who say they've never used
AI is shrinking.
I think that was 40%last spring saying never use AI.
Now under this, you know, preliminaryresults, it's coming down to about 37.
(11:47):
But there's this whole middlepack of advisors who are basically
have dabbled in it and,when I see that someone has dabbled in it
and they're just using it a tiny bit hereor there, it just, it indicates to me
that they haven't seen or learnedthe use cases
and that those advisors who we nowsee, we've seen a doubling of people
(12:08):
who are using it daily, they have seenthe use cases, they have learned,
the absolute power of this thing,and they've learned to integrate it
into their daily workflow and are gettinghuge gains as a result of it.
So, you know,I think, you know, that's kind of,
you know, the,the big thing that jumps out to me.
And don't.
Devin, do you have any other observationsyou may want to make on that front?
(12:31):
Yeah, I think that, you know,we definitely have seen an uptick in it.
And I think maybe some of the hesitationamong advisors still lies
in, not fully understandingthe power of good prompting.
I think that, for many advisorsor people in general
who are just kind of dabbling in AI andgoing to it once a month or something and,
(12:53):
don't exactlyknow how to format their prompts,
are sometimes unimpressedwith the results that they get.
They're using ChatGPT like Google,and that's not the way, to use it.
And so when you get resultsthat are subpar from a, you know, a prompt
that isn't really, optimizingthe large language model like ChatGPT
or Claude,you're probably going to be a little bit
(13:14):
unimpressedwith the results that come back.
And so that's whywe spend so much time in the program
talking about promptingand how to format prompt,
because your output is only going to beas good as your input.
And there is a little bit of a learningcurve and some really important
knowledge baseto have around around prompting.
And I think as people learn moreabout prompting and as AI becomes
(13:35):
more integrated and regular programsthat we use, we're going to continue
to see that uptick, among,you know, advisor usage, right?
Yeah.
I'm glad you, glad you mentioned it,because it gives me
an opportunity to, mentiona couple things.
One, the thing that is jaw droppingthat, you know, we do spend
time, emphasizing in our, you know,we have two AI programs right now.
The one that starts, next week
(13:56):
is basically it's called the A, the,AI powered financial advisor.
It's basically introduction to AI.
You learn how to prompt,you learn a little bit
about how you use it in client engagement,how to use it in client,
client meetings in marketing, and,and work with your team on it.
The other program,we have a five week program.
It's basically intro to AI marketing foradvisors, and it's all about marketing.
(14:19):
And in both those programs, naturally,
in the beginning,we spend a lot of time on prompting.
So what exactly is prompting?
Prompting?
Is it no code coding? Okay.
What I mean by that is that these machinesunderstand English language.
Okay.
And so, when you realize, oh,
(14:41):
if I can, write in English
for 5 or 6 sentencesand the sentences are,
driving my interaction with the AI model
by following a particular structure,
the kinds of results that I can get back,you know, they're absolutely amazing.
(15:01):
These, you know,the big breakthrough with AI is that,
this is natural language processing,the ability for the
the AI modelsto speak to us in very fluent
English languageand for them to understand us
responding in Englishand then do very powerful things.
(15:22):
And so, it is,you know, that aspect of it,
the prompting that is,you know, really important.
The other thing that Devin pointed out wasit does take a little bit of time.
Ethan Malik is a, you know, New York Timesbestselling author,
professor at the, Wharton Schoolat the University of Pennsylvania.
And he said, any knowledge worker?
Okay. We're all knowledgeworkers. We're sitting at our computers.
(15:42):
We're thinking all day long, we're typing.
Any knowledge worker, needs about eight
hours, 8 to 10 hours of really,you know, experimenting with it
and learning somethingabout how these AI models work.
And once you get through that eighthours, the, you know,
the world of possibilitiesthen opens up to you
(16:03):
because you've been empowered to,really understand how to use these tools.
And it's Devin is saying there,you know, the base of all of this is
how do you talk to these modelsand you talk to these models with this
no code coding, which we call prompting,which is just writing some sentences
and communicating backand forth with the model.
And that's what's really big.
Yeah. Okay.
And of course, it's not just ChatGPTthat advisors are starting to use here.
(16:26):
So maybe briefly, we can just mentionthe fact that, you know, Google Gemini,
it's gone from 3% to 15%, of usage,for advice.
Yes, yes. Right. Claude. 1 to 7%. Right?
Right. Yeah.
And those two, six months ago,basically, advisors knew about ChatGPT
basically,I think like 3% of them knew of, Gemini
(16:47):
and 1% of them knew ofI knew about Claude.
Now, like you said, weI think we like 15%.
And, went from 3 to 15%.
Claude went from 1 to 7%.
And also perplexity. Right.
We spent time in both of our AI programsintroducing advisors
to perplexity as well.
Perplexity is an AI search answer machine.
(17:10):
Really? It's.
You can think of it in terms of,
what would happenif, Google had a baby with ChatGPT.
So it is both an AI model,with a large language model underneath.
It has the same abilities
to, you know, speak back to you,right back to you, fluently.
You engage it, in the same way.
But it, also, gives you,a lot of citations.
(17:32):
So, for instance, I do my research.
Anything I'm workingon, I, do my research with perplexity,
because the results are cited,
and, then I tend to port over
any interesting informationthat I need in my research,
that I want to then,you know, engage with a Claude or ChatGPT.
(17:52):
I kind of take it over from,from perplexity.
So anyway, the point is that, perplexity,people have gone from 2 to 12%.
So what?
This shows to meis that there is, you know, you know,
a nascent movement of among advisorsthat they're breaking out of a year ago.
I mean, six months ago,it was like ChatGPT.
And that was about it.
Now they're realizing,
and this is important, too,because ChatGPT has massive install base,
(18:16):
their first to market,they'll probably continue to dominate.
Our programs are all, caught on on the GPTplatform.
But, the fact that more advisorsare becoming familiar
with Claude, with perplexitywith Gemini, indicates to me again
that and by the way,
I would suggest that the peoplewho are familiar with
those are probably the ones who are using
(18:36):
AI models, once a daybecause they're so, blown away by it
that they start paying attentionto a little more.
The, you know, the AI headlines,of course, are everywhere, but,
I think they start paying attentionto a news about Claude or what
Google is doing,
and they're digging aroundand they're realizing,
okay, these other models exist as well.
They're also very powerful and useful.
(18:57):
So, we're starting to see,
you know, a maturation among advisorsin terms of beginning to develop,
you know, sophisticated,understanding of the power of these tools.
Okay.
Well, let's start getting intosome of the, you know, specific,
areas of an advisor's businessor what an advisor does,
and how advisors are using, these AI toolsto help them become more efficient
(19:18):
and deliver better results.
So client communication.
All right.
40% of advisors now use AI for clientemails and communications.
Okay.
So do you guys have any specific examplesof how advisors are changing
the client relationshipsand their efficiency around communication?
Yeah.
Well, you know,
(19:39):
you know, putting aside, the processingof client meeting notes and then writing,
you know, a well-structured, follow upemail, advisors are using,
you know, you people are using ChatGPTor the other AI models.
To, craft emails
to all sorts of different people,not just their clients, but their staff.
And what is, you know, powerful about itis that, listen,
(19:59):
some advisors are fluent writers, but,you know, I've been in this
I've been in this industryfor more than 20 years.
And, you know, advisors, you know, are,they don't make any, secret about it.
They like you know,some of the, like, hey,
you know,writing really isn't my strong suit.
That's why I got into, you know, sortof numbers, and, and so people nonetheless
(20:20):
have a need to write, federal professionalemails around certain, situations.
And what is so great about itis that all you need is to know
your basic bullet points, right, of whatyou want the email to address.
Okay.
And so these can be,you know, half sentences
(20:40):
that have, you know, key phrases in them.
And you can, put those, you know, 3or 4 jotted points that you want to make
because maybe you were talkingon the phone with a client
or did a little researchfor a client about something.
And now you want to you get back to them.
And so it's very, easy to just take your,
(21:01):
you know, shorthand notes onwhatever topic,
or sometimes you could even be doingresearch, on perplexity or some other,
and you can kind of like,cut and paste this stuff
and you put it into the I model,and then you give it a prompt.
I had a meeting with Doug.
Doug was asking questions about,you know, some of the.
Yeah.
Or can they really effectively use five,20 times to pay for their kids college?
(21:24):
Are there some ideas?
Are there some other waysthey could use his parents,
his grandparents, IRAor whatever the case may be?
And you can, like, take some of thisin from you can just say to the
am I talking with my client, Doug, about,well, funding 529
things for his kids and college planning,and he wanted some additional research.
And you just throw the additional researchin and say, you know, act as a skilled,
(21:45):
writer, right? That's your role.
And then meeting with Doug, and here'sthat, here's the background.
Ding ding ding ding ding.
Give me a, you know, well formatted,you know, a follow up email.
And, yeah.
And then you hit the buttonand then you get a draft.
Okay.
But you'll instantlyget a very good draft,
especially for people who, you know,sort of struggle or challenge by writing.
(22:08):
Would have taken a half an hourand now you've got it in like 45 seconds.
And you still need to be the humanin the loop, right?
That's a phrasethat I use all, all the time.
And, meaning the eye is just donean amazing thing for you.
It saved you a ton of time.
Now you need to read through that draft
and, you know, double checkthat you're good with everything.
(22:30):
Before you send that email out the doc.
So, I mean, I think that is, you know,definitely one example relating
to client communications and anything elsecome to mind on your own?
Yeah.
Also add I think that's a great exampleof the 1 to 1 communications.
But we also have advisors
who are using AI for kind of their massclient communications as well.
So things like invitations to clientappreciation events or educational events,
(22:52):
you know, you can easily promptthe AI model to come up with that.
Or as well as, you know,something that I think advisors know
that they have to dobut often don't have the time to do are,
really send out like personalized emailsto different segments on their list.
So, for example, if you have, you know,clients, you're going to be turning 65
in the next year and you want to send outsome Medicare resources.
(23:13):
Having the AI kind of craftthose different messages
for people in different groupswhere that could take you, you know,
a couple of hours to do on your own.
You know, you'regetting a really good draft from AI to.
So I think it's really powerful for that1 to 1.
But also, you know, to have an uptickin your mass client communications.
Two or to send emailsto specific, portions of your list.
(23:35):
AI can be a great help for that as well.
Yeah.
That reminds me of, somebody from our lastfrom our AI marketing program
where we spend, a good deal of timedoing something
that, I think practically, you know,no advisors have ever done.
And that is creating a message
platform, a custom message platformabout your business.
What is the message platform?
It's like 26 key,marketing message elements
(23:58):
that you may useat various times in your marketing.
And one of, one aspects,one aspect of this was,
you know, additionally,having ideal client, personas.
Right.
This one advisor in the program,I was, like, blown away
by you know,the AI model had created this.
Excellent.
Client profile, ideal persona.
(24:19):
Ideal client persona.
And then the model offeredto create a little case study.
After it did, after it. After it.
You know,the advisor answered all these questions.
Then the model comes back and says,okay, here's like, you know, one of three
different types of ideal client personasthat you have in your book.
And the advisor is lookingsays, boom, that is perfect.
(24:40):
Then the am I said, I should I go aheadand create a case study narrative,
you know, a sort of theoretical narrativeof how you work with this kind of client.
And he says, yes, absolutely.
Because I'm meeting with somebody tomorrowwho fits this profile perfectly.
And so then it created this,case study narrative,
and then it asks the, the AI model to,go ahead and kind of create an email
(25:04):
that I can sendin advance to the, prospect,
explaining how I work with peoplejust like him.
And the advisor is totally blown awayby, the AI model did it.
He, edited it and sent it offand had great results.
So, yeah, that's yet another example of,the power on the, you know, client
engagement front, for sure.
And one thingthat kind of raises eyebrows is
that 22% of advisors are using AI
(25:28):
for help with sensitive clientcommunications, okay.
Something where you might not thinkyou would turn to AI for help,
but they're doing itand it can be very effective.
Right?
Yeah.
We've seen this a number of times,in our programs as well.
And so yeah, the 22% number was, was,was was really interesting.
(25:49):
Listen, you know, as an advisor, you're,you're embedded into people's
lives, right?
Somebody somebody gets sick, somebody getsfired, somebody gets retired.
Children.
A child gets in trouble, healthevent hits, all those kinds of things,
that sometimes require,you know, sort of delicacy and empathy,
in terms of, responding back to the clientand, and particularly
(26:11):
I think there was an advisorin, one of our programs earlier, late
last year who, I think had a clientwho revealed they had cancer.
And, you know, he was like,listen, you know, my, my,
my wife and my wife and,and, grown up daughters,
you know, tell me I'mnot the most empathetic guy in the world.
I know that.
(26:31):
And yet, I hear I have my client,my client has revealed,
you know, this very personal, thing.
And in the past,you know, would have pulled his hair out
for, you know, 30 minutes trying to sayjust the right thing.
To the client in response,because he knows that's not a strong suit.
And instead, he turned to the AI model.
(26:52):
He explained to the AI modelwhat the situation was
and asked for a draft email, response.
And he got a beautiful,empathetic, response.
He made some small changes.
He sent it off to the client,and the client was so grateful
and responded back to the advisor with,you know, huge amount of appreciation for,
for the warmth and insight that,an empathy that the advisor shared.
(27:14):
So that is, just one, one kind of big onekind of way to use it.
Right.
Other touchy situations could be,
you know,sometimes we have to fire clients, right?
Or clients can be, can be difficult.
And, you know, you need to, tactfully,
make some pointswithout making some enemies.
And again,the AI can be hugely, hugely helpful.
(27:37):
They're both in,you know, the creating that, excellent
communication,but also doing it very quickly.
Okay.
And so while we're in, clientcommunication, let's talk
a little bit about, meeting notesand how I could enhance, those.
It seems simple.
And this can be a good starting point.
I think, when you're trying to test drive,I what's possible here, in terms of
(27:58):
using getting more out of meeting notesand enhancing them.
Yeah.
You know, I sort of mentioned it
maybe a little and fairamount of detail at the top.
But, yeah, you, whether you are,whether you use handwritten notes like,
let's suppose you use handwritten notes,you're not recording your client meetings.
Okay.
And really recording to client meetings,I think is the way to go.
I see more and more advisors doing it.
(28:18):
I think compliance in some cornersis like, partly
struggling with this,but frankly, from my perspective,
I would be happy to have every meetingI have with my, advisor recorded.
So there's absolutely no questionabout what was ever discovered,
discussed in the past.
And, and so you, you have two approachesthere, right?
You to get a transcriptfrom a recorded meeting
or you have your handwritten notes,you could type up your hand notes.
(28:42):
But these AI modelsalso have strong visual capabilities.
So you literally could take you know,you're your iPhone, right?
And you could take your legal pad
and you snap a picture of the 2or 3 pages of notes
you upload those images into the AI modeland you go from there.
(29:04):
And in our programwe teach, we teach advisors,
you know, how to have some, quickbut effective back and forth with the
AI model about what it's saying,and then directing it
to go aheadand, create a summary of what it is
seen in, whether it's a transcriptor the visual images.
Create a summary.
Then, you know, make some very specificobservations about, next steps
(29:27):
or, you know, actions that needed to betaken, need to be taken.
And, and then from there, you know, we endwe end, there's a series of steps
that people go through, that typically endwith, okay, now,
draft a draft email to, you know, to Doug
and his wife about, you know, the meetingor whatever the case may be.
(29:49):
And again, these are all these drafts,you know, you're responsible for it.
You're the human in the loop.
But the amount of time that's savedis, is is just, you know,
it's actually shockinghow much time people are saving,
which then raises the bigger issueof which I call the AI dividend.
Right.
You could use these toolsto, just have massive time savings and,
(30:10):
you know, cut out of your office,Thursday afternoon and take Friday off.
Or you can. Yeah.
Depending on where you are in your career,you could then take the
I'll take this time dividendand apply it to your niche.
And then you could be usingAI to work at your niche.
And you can make huge progress there.
Or, you know, whatever the case may be,you take this additional time, to do other
(30:32):
things are going to drive, your businessgrowth or drive your business efficiency.
So, you know, it's,it's it's really powerful, Doug.
So, you know, the program is going to be,starts next Thursday, and, Doug,
I think you may have some linksto share with people as to
where they can goto find, more about the program.
I think it's, horse's mouth.com/ai
(30:56):
that will bring you to the AI poweredFinancial Advisor
Program landing page, where you learn moreabout what we're doing there and,
you know,hopefully we'll see people in the program
because it is there aren'tmany opportunities for specific,
advisortraining on how to use this technology.
AG we've been working.
We've been up to our elbows
in this stuff for the last couple years,and we didn't go public with it
(31:20):
in terms of working with advisorsaround this topic until this last July.
And, Devin was saying,we train more than well, we've trained,
over 100 in the AI powered program,in July, August and September, October.
And then we just had another 30
plus people who went through ourAI marketing program.
So anyway, this is your opportunity.
(31:40):
To, really be on the cutting edge of,
of, this new general purpose technology
that has such amazing usefulness in many,many areas.
So, anyway,anything else to say, Doug or Devin?
No, I just say I, I have the linkson screen, there in the description.
If you're watching this live, for youand, it's really great.
And to see the responses to the advisors
(32:03):
who are in these programs,it's like they're like, wow.
You know, it's, when they seewe've never seen anything like it.
And I have to sayand yeah, the first time I, you know,
I started out my career as a journalist,
and the first time I saw a Netscapebrowser in 1995,
I almost fell on the groundbecause I recognized instantly
what the heck this thing wasand what it could do.
(32:24):
And this is ten timesmore powerful than the Netscape browser.
So, anyway, come to our programand, you'll,
you'll learn how to become the AI poweredfinancial advisor, that's for sure.
Great. We'll leave it there.
Thank you for watching everybodyand have a great rest of your day.
Take care. All right.
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