By Barry Davys
This article is published on: 8th January 2025
Enhancing Your Financial Strategy with Trusted AI Tools
The buzz around Artificial Intelligence (AI) is hard to ignore, with tools like ChatGPT becoming increasingly accessible. While AI offers exciting possibilities, my approach remains measured and focused on one goal: enhancing your financial planning experience.
AI is a powerful tool, but it’s not a replacement for personalized advice.
Instead, I use AI to complement my expertise, freeing up more time to focus on your unique needs and objectives. Below, I’ve outlined how AI is being integrated into our processes and the benefits it brings to you.
Will AI take over jobs?
AI is ideal for repetitive tasks, such as sorting recyclable materials in factories. In financial planning, it’s a supportive tool, not a replacement for human judgment and empathy.
Will my financial planning be fully automated?
Absolutely not. Financial planning is deeply personal and requires understanding your goals, values, and circumstances. While AI can assist with specific tasks, I remain at the heart of your financial strategy, ensuring your plan reflects your needs.
I take an incremental approach to adopting AI, focusing on areas that directly enhance your experience and outcomes:
1. Cash Flow Modeling
AI helps generate clearer, more timely reports, allowing us to review and adjust your plan efficiently. Future developments will include portfolio research and implementation improvements, currently in the testing phase.
2. Tax-Efficient Savings
Calculating taxes on investments with complex withdrawal patterns has traditionally been time-consuming. AI now streamlines this process, reducing calculation times from weeks to days, ensuring more accurate and timely tax planning.
3. Investment Research
AI aids in analyzing market trends and investment options, giving us deeper insights to recommend strategies aligned with your goals.
4. Communication
AI enhances how I communicate updates on your financial plan, changes in tax laws, or regulatory developments. You’ll receive information faster and in more digestible formats, keeping you informed every step of the way.
AI is an augmentation tool, not a replacement. It allows me to dedicate more time to addressing life events and complex planning needs, including:
While AI supports behind the scenes, you can trust that I remain your adviser – a person you can rely on for clarity, guidance, and answers to all your financial questions.
AI is being introduced thoughtfully, with the sole aim of improving outcomes for you. Rest assured, I’m not becoming a robot or avatar. I will always be here to provide personalized, human-centric advice tailored to your unique circumstances.
If you have any questions about how AI is being used or how it benefits your financial plan, please don’t hesitate to reach out.
To start a conversation book a call with Barry Davys using his online system. This allows you to choose a time that is convenient for you for the call which can be either a phone or video call.
