Invigorating client relationships with AI coaching

By Tim Clairmont

Think about the last time you had to solve a math problem. Did you reach for a piece of paper for a long division equation, or did you pull out a calculator?

Tools that once felt unfamiliar have quietly become a part of daily life. AI is following a similar path. Consumers are already using it for research and problem-solving, both for personal and professional projects. Naturally, this means they’re using AI for financial questions as well.

For advisors, this presents an opportunity not to compete with AI, but to guide clients in how to use the tool thoughtfully, especially as curiosity prompts them to explore financial topics further.

AI super-users don’t happen overnight. Many first test the tool by researching low-stakes topics like DIY home projects or finding new restaurants. Some find exactly what they’re looking for; others find that AI misses details or gives poor responses. This is usually not because AI is wrong or biased, but because the prompts people use didn’t produce the desired outcome.

Just as it took practice to understand how to best use the different functions of a calculator, getting the most out of an AI tool requires crafting high-quality prompts. When it comes to financial decisions, you can help clients see how they can use AI to learn more and prepare for upcoming meetings with their advisor.

Expect questions and encourage exploration

When a client brings you questions about things they heard from AI, treat this like any normal session where someone is looking for your advice. We don’t expect our clients to walk in day one and understand exactly how to build a strong financial portfolio.

Just as we educate clients on financial basics, take this chance to guide them on how to explore AI. As you provide example prompts and show them how to find the information they’re looking for, it will feel as though the advice is coming from both you and AI.

Teaching them how to fish for the information they’re looking for builds trust and confidence in you as their key advisor. As the client builds their skills in AI usage, this will eventually lead to more fruitful meetings that focus on their findings and how to make their goals a reality.

Basic advice for clients starting to use AI

Here is some advice I’ve shared with clients as they start to engage with AI:

• Add as much context as possible to get the best results in prompts without sharing personal information (such as name, social security number, birthdate); especially when using an unprotected AI platform.
• Try the talk to text function so prompts feel more conversational.
• After receiving a long response, follow up for clarity. The more you ask questions, the more likely you find the answers you’re looking for.
• Prompt the AI to ask questions to ensure you’re on the same page.

While these aren’t the only tips available, they point clients in the right direction. Encouraging your client to explore financial questions with AI allows you to shine. Your client will begin to ask more in-depth questions, expanding the bounds of what you can discuss.

Topics clients should ask AI

With such a wide range of potential research topics, it’s helpful to provide guard rails. I tend to encourage them to use AI to explore their hobbies or other personal passions. Starting with new restaurants or potential vacation spots helps them get comfortable with the use of AI, which then expands the potential of their searches and overall curiosity.

Consider using AI as a way for clients to independently explore financial topics. Having your clients ask about RMD’s, QCD’s, Roth IRA’s and annual 401k contribution limits from AI is a great way to get another perspective on financial guidance that we provide as advisors.

Answering these questions illustrates just some of the complexities that we consider. Remember that AI doesn’t replace you; it exposes the breadth and depth of knowledge you have, and highlighting these specific topics encourages a deeper level of understanding.

Just like with any piece of technology, AI was created to simplify daily life. Being the guide who shows how the tool works reminds clients they can trust you to keep them ahead of the game.

Whether they’re searching for financial advice or their next vacation destination, they’ll think of you and how you empowered them. As AI usage becomes more common, consider taking the next step to build a trusting relationship with your clients that integrates their own AI research.

About the MDRT member
Tim Clairmont is a best-selling author, public speaker, and 16-year member of MDRT, achieving the highest-tier Top of the Table level of membership.