Home Financial Advisor Designing “Customized GPTs” With Superior ChatGPT Options To Improve Advisor Capabilities With AI

Designing “Customized GPTs” With Superior ChatGPT Options To Improve Advisor Capabilities With AI

Designing “Customized GPTs” With Superior ChatGPT Options To Improve Advisor Capabilities With AI


In late 2022, OpenAI launched ChatGPT, an Synthetic Intelligence (AI) pushed, natural-language processing device that provided the general public the flexibility to conduct seemingly human conversations with a chatbot and generate a seemingly infinite array of refined content material, together with essays, emails, laptop code, meal plans, fictional tales, and music lyrics, to call only a few. ChatGPT’s introduction set off a wide-ranging public debate round each the transformative energy of AI in addition to the potential (and largely unpredictable) threats it could pose. Whereas it might be many years earlier than we all know these solutions, in the mean time, professionals throughout each trade, together with monetary recommendation, are working to find out how they will leverage this new and memorable device to make their practices extra environment friendly.

On this visitor publish, David Ortiz, the Managing Accomplice on the Monetary Chef, shares his private journey round how he gained a sensible understanding of some superior ChatGPT options, how he personalized it to generate responses particularly tailor-made to the wants of economic advisors, and the way he is carried out these and different AI-driven instruments in his enterprise.

With a background as a software program government, David was drawn to the potential of ChatGPT, prompting him to find out how he may use it to reinforce his capabilities as an advisor. After delving into educational content material on YouTube College, he determined that the perfect use for AI in his observe was to enhance the processes round shopper conferences, together with producing summaries, extracting pertinent knowledge, creating motion gadgets, and staying compliant.

By studying to design “customized GPTs” to create particular person bots that would carry out particular duties, David created (and has made publicly accessible) an advisor-focused device he calls the “Shopper Assembly Summarizer”, which processes advisor/shopper assembly transcripts to collect, summarize, and set up key info from any assembly or name by way of varied AI prompts. Considered one of his most used prompts processes discovery assembly transcripts and permits customers to collect, summarize, and set up key info, together with demographic knowledge, matters mentioned, key factors, motion gadgets, and subsequent steps. One other is designed to extract info from knowledge gathering and monetary planning assembly transcripts for straightforward entry into monetary planning software program and in addition to summarize key factors and motion steps. A third immediate evaluations annual evaluation assembly transcripts, capturing shopper quotes from key evaluation areas, which might then be fed to a CRM. Lastly, a 4th immediate evaluations transcripts from the angle of a compliance officer to make sure that David and his crew adhere to regulatory requirements and their very own inner insurance policies.

Moreover, AI instruments have allowed David to remodel what had been as soon as monologue-based planning conferences into interactive, participating dialogues. By utilizing a mindmap plugin, David and his crew create high-level visuals that give purchasers a transparent understanding of how their monetary plans had been constructed, how their particular points are being addressed, and the worth that David is delivering on an ongoing foundation.

Finally, David has discovered that integrating AI into his observe has not solely helped him change into extra environment friendly, however has additionally allowed him to ask higher questions, achieve a deeper understanding of his purchasers’ wants, and hone his personal listening expertise. The web consequence has been greater shopper satisfaction and engagement, better-tailored plans that handle every shopper’s distinctive targets, and better general effectivity in his crew’s planning course of. For David, the actual promise of AI is in permitting monetary advicers to foster deeper and extra significant relationships with their purchasers, serving to them be higher (and extra profitable) at their craft!

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