Ar𝘁𝗶𝗳𝗶𝗰𝗶𝗮𝗹 𝗜𝗻𝘁𝗲𝗹𝗹𝗶𝗴𝗲𝗻𝗰𝗲 𝗮𝗻𝗱 𝘁𝗵𝗲 𝗛𝘂𝗺𝗮𝗻 𝗔𝗱𝘃𝗶𝘀𝗼𝗿

Ever since AI started becoming popular, I’ve gotten questions from advisors about if I believe it will take their clients. My answer has been “no”.

However, the 𝗯𝗲𝗹𝗶𝗲𝗳 that artificial intelligence is a valid substitute for a good financial advisor will take clients from you. That means you need to worry more about people’s beliefs than the tools they use. Because if they believe anything can get them the same (or better) results than you provide, then you’re at risk of becoming obsolete.

Fortunately, good marketers have always known this. We’ve known how important it is to explain our value in a way that resonates with the people we serve.

It’s not enough to say, “I do financial planning,” any more than it’s enough for a chef to say, “I cook food.” People need to feel the difference between a pre-packaged frozen dinner and a hand-crafted, perfectly seasoned meal just for them.

If you fail to communicate that difference, then you leave room for them to believe a substitute (it could be any substitute, not just artificial intelligence) can do the job. And that’s when the drift begins.

Which means it’s becoming more important than ever before to 𝗽𝗿𝗼𝗽𝗲𝗿𝗹𝘆 𝗮𝗿𝘁𝗶𝗰𝘂𝗹𝗮𝘁𝗲 𝘆𝗼𝘂𝗿 𝘃𝗮𝗹𝘂𝗲 𝘁𝗼 𝗽𝗿𝗼𝘀𝗽𝗲𝗰𝘁𝗶𝘃𝗲 𝗰𝗹𝗶𝗲𝗻𝘁𝘀. If you cannot do that, then you’re gambling with your future.

In the coming years, the ability to justify your value will be the competitive advantage in the financial advice industry. Not “a” competitive advantage. Not “one of many.” 𝗧𝗛𝗘 competitive advantage.

Why? Because as the noise gets louder and the options multiply, the default belief for prospects will shift from “I need a financial advisor” to “I can get this somewhere else faster and cheaper.”

When that happens, the advisors who cannot confidently, persuasively, and repeatedly prove their worth will vanish.

• Complete at least one book per month from our Top Books List.

With IP you can have your own unique website and email to use with your clients!

This is not having a DBA or your own business name. Though that is possible to do with IP, I don’t recommend it as it is confusing for clients and much more compliance-intensive and costly. What were talking about here is simply having your own custom client/public website and the associated email address that you can use with clients. You are still representing yourself as working “for” Innovation Partners.

For example, my client web site is ClientFirst.pro and the email I use with prospects, clients, the public and Docusign is michael@clientfirst.pro. My clients never see my IP email address. In fact, the only place that Innovation Partners appears is in the appropriate disclosures - I am never promoting IP (this has been a thorn in my side with all previous B/D’s).

Which one of the following retirement 'risks' is only an issue during the WITHDRAWAL phase (and not an issue during the accumulation phase)?

1. Volatility

2. Inflation

3. Longevity

4. Loss of principal

Answer = 1