What If Marcus Aurelius Was A Financial Advisor?
Antoinette Rodriguez, MBA
20+ Year Wall Street Veteran | FA Magazine's Invest In Women Chair and Social Media Editor | Crypto Decoded & Chica Wealth Builders Publisher | AI & DeFi Expert
As a financial advisor, you fully appreciate the importance of effective communication when engaging clients and prospects. That's why you should seek to understand the vast capabilities of AI language models like ChatGPT. These models are trained on billions (soon to be trillions) of data points. As more real-time internet information is integrated (think Google's Bard), the conversational responses they generate become more and more human-like. You can even train the AI to write like you (I know, a bit scary, right?). As a wealth manager with subject matter expertise, you can develop personalized financial planning content that can be used in various ways, from blog posts and emails to social media templates and even team training.
One book I've found particularly helpful in life is Ryan Holiday's "The Obstacle is the Way." This popular business book, which focuses on the philosophy of Stoicism with a heavy emphasis on Marcus Aurelius, has several valuable lessons for those in the wealth management advice space.
With the help of AI language models and my unique prompt engineering "expertise," I generated content that describes how the principles of Stoicism, as laid out in "The Obstacle is the Way," can be applied to financial planning. Below is my edited version. As always, I highly encourage you to edit any AI-generated content, check facts (cause you can believe everything derived from the internet, right???), and PLEASE get marketing pieces approved by your firm's compliance department!
Here goes...
"Ryan Holiday's book "The Obstacle is the Way" draws inspiration from the principles of Stoic philosophy, particularly from the teachings of the Roman emperor Marcus Aurelius. The book explores how obstacles and challenges can be viewed as opportunities for growth and resilience. In the context of financial planning, Holiday offers valuable insights that can help us approach financial planning with a new perspective.
One of the core principles of Stoicism emphasized in the book is the importance of focusing on what we can control. In the world of financial planning, this means focusing on our behaviors and actions rather than external events that are outside of our control. For example, we can't control the stock market or the economy but we can influence how much we save and invest.
By focusing on what we can control, we can avoid getting caught up in the anxiety and stress that comes with trying to predict and control external factors. Instead, we can focus on developing good financial habits that align with our values and priorities. For example, we can focus on developing a budget that helps us live within our means and save for the future. We can also focus on creating an investment portfolio aligned with our long-term financial goals and risk tolerance.
Another fundamental principle of Stoicism emphasized in Holiday's book is perseverance in the face of obstacles. Like marathon runners who push through fatigue and cramps to cross the finish line, we must persevere toward our financial goals. Financial planning means staying committed to our long-term goals, even when we encounter short-term setbacks. For example, when we save for retirement, we might face challenges such as unexpected expenses or job loss. But by maintaining a Stoic mindset and focusing on what we can control, we can stay on track toward our long-term goals. This means staying committed to our savings plan, even during times of economic hardship, and being willing to make necessary adjustments to our financial plan as circumstances change.
Finally, Stoicism emphasizes the importance of resilience in the face of adversity. Having a solid emergency fund and a diversified investment portfolio can make us more resilient in the face of financial setbacks like significant and debilitating illnesses.
As a financial planner, I highly recommend this book to clients as a helpful resource for navigating the ups and downs of your economic life. By adopting a Stoic mindset and applying the principles outlined in the book, we can overcome financial challenges and achieve our long-term financial goals."
In conclusion, with the help of AI language models like ChatGPT, financial planners can generate personalized content that communicates even Stoic principles engagingly to clients and prospects. Remember always to edit and fact-check any content generated by AI. With prompt engineering training (see my workshop below ) and subject matter expertise, these tools can be valuable to generate ideas and scale your financial planning practice.
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Best,
Antoinette Rodriguez aka ARod