3 Ways Advisors Can Get Started With ChatGPT

Here is a quick sample of me asking ChatGPT to “write FINRA compliant 500 word personalized note explaining impact of continued interest rate increases on investments, from Financial Advisor Bill Smith to their client Susan Jones, do not use any of the following FINRA red flag words or phrases (Meet, reaching, achieving , Solutions, Expert, expertise, Maximize, Meet, Successful, Financial security, Protect, Peace of mind, Unique, Reduce, minimize, Unbiased, Success, Protect against, Will, Proven, Cutting-edge, Urgent, Rollover, Financial advisor).”

Thanks to Teresa Leno at Fresh Finance for sharing her FINRA hot word list.

2. Try out new ChatGPT content creation tools built for advisors.

With the exploding popularity of ChatGPT, we are seeing the launch of a wide range of tools purpose-built for users in various industries. Examples include Jasper.ai and Copy.ai, which help marketers and advertising agencies save time writing content and emails; Bibit.ai, which helps real estate professionals quickly create content for new listings, and Regie.ai that helps sales teams efficiently build prospecting communication sequences and emails.

We recently launched WealthManagementGPT, a new ChatGPT-powered content creation tool built for for financial advisors and planners. WeathManagementGPT enables advisors to easily and efficiently create a variety of FINRA-compliant content including emails, blog posts or social posts.

Here is an example of the advisor dashboard from Wealth Management GPT’s new solution. This tool is currently in pilot. If you are interested in trying it, please contact Marc Butler at [email protected] to participate.

3. Use ChatGPT features within modern client communication platforms.

For many advisors and planners, writing notes to clients is a necessary but time-consuming task. Advisors usually have an idea what they want to talk about, or may start with an existing template and customize it.

Advisors using client communication solutions such as ReachStack, Orion or FMG Suite may have conversational AI integrated into the platform, making it easy to draft suggested email subject lines, notes or posts.

Here’s an example from ReachStack’s advisor communication solution.

Within these tools, advisors can either use AI to create a rough draft and then fine tune it themselves, or create the rough draft themselves and use AI to refine it.

ChatGPT is a hot topic with new use cases being explored daily. Its utility and potential disruption of the economics of the traditional creative process make for some interesting discussions. As an advisor, you can use it to boost your efficiency while improving your communication with clients.

Brendan Kenalty is chief marketing officer, data scientist and advisor content strategist at ReachStack. Marc Butler is the founder and CEO of Wealth Management GPT.