Host Ryan Nauman welcomes Matt Halloran (“Matt GPT”), Chief Evangelist at Zocks, to discuss how AI is affecting wealth management and why many advisors still underuse it due to fear, unrealistic expectations, compliance concerns, and industry noise. Halloran argues advisors are only scratching the surface with note-taking and content tools, while the bigger opportunity is integrating structured data across the tech stack to uncover client opportunities, speed service, and drive organic growth. He recommends talking with peers, ensuring secure two-way integrations, and testing platforms side by side. The conversation covers building trust through incremental adoption and social proof, how AI-driven faster communication can help during bear markets, and how reclaimed time should be reinvested in clients, teams, personal wellbeing, and relationship building. Halloran also notes AI can support compliance via accurate transcriptions and reduced errors.

Connect with Ryan Nauman:

LinkedIn: https://www.linkedin.com/in/ryannauman1/

X: https://twitter.com/LkTahoeBadger

www.AdjustedForRisk.com

Learn more about Zocks: https://www.zocks.io/

00:00 Show Kickoff AI Focus

00:54 Meet Matt Halloran

01:39 Career Path Influence

03:51 Kindness Trust Culture

06:14 Why Advisors Fear AI

09:47 AI Beyond Content

12:28 Choosing AI Tools

14:47 Clients Bring AI

16:22 Trust Compliance Steps

20:32 Bear Market Speed Service

23:57 Faster Client Communication

24:42 Using Freed Time Well

27:07 Feed Your Soul

28:50 Next Gen Advisor Skills

31:03 Preparedness Story

34:10 Winning Over Skeptics

39:01 Organic Growth Plays

42:41 Augmented Intelligence

45:01 Compliance Safety Net

46:54 Wrap Up And Resources

Ryan Nauman Market Strategist Adjusted for Risk:

Welcome everyone to the Adjusted for Risk

2

podcast from the shores of Lake Tahoe.

3

I'm Ryan Nauman, the host of the show.

4

Over the past couple of years,

the wealth management space

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has been grappling with AI.

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First, it was understanding what AI is.

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Now, it is all about how to

implement it to enhance the

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client and advisor experience.

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Well, I have on an industry expert who

is going to share his thoughts on the

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impact AI is having on wealth management

and the opportunities that it opens up.

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All right, enough from me.

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I have already talked enough.

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Let's go ahead and bring

on the star of the show.

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My guest, he doesn't need

much of an introduction.

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You all know him, but here it is anyways.

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I am honored and very excited

to welcome Matt Halloran.

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Matt is also known as Matt GPT, and Matt

is the chief evangelist at Zocks and is a

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very popular presenter and podcast host.

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Matt, thank you so much

for coming on the show.

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MattGPT: Thanks

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Ryan Nauman Market Strategist Adjusted for Risk:

honor to have you on.

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Really excited about

this, uh, conversation.

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Can you please tell us a little bit

more about yourself, Zocks, and how does

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one get the title of chief evangelist?

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MattGPT Halloran Chief Evangelist Zocks:

Well, uh, first off, uh, thank you

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very much for having me on your show.

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I, I really, really appreciate it.

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Um, so my, my journey in financial

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I worked for, uh, what's now

known as Carson Consulting.

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It was called Peak, and I was the life

coach, uh, at that consulting company.

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And I noticed very quickly, uh,

that, um, there weren't a lot of

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non-advisor influential people.

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Everybody had their licenses

and were an advisor that made

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a million dollars 10 years ago,

and they were all on the stages.

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And so I went to Omani and the other

people on the team and was like,

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"Hey, I really wanna get on stage.

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Like I, I, I wanna talk

about communication,

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interpersonal relationships."

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I was a therapist before.

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And they were like, "Okay."

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So they gave me a platform.

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And then I partnered with, uh, with my

old business partner named Kirk Low.

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He runs Proud Mouth, which is

a company I, I co-founded, and

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we wanted to try to unlock the

key to being influential, right?

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So how do you really take, uh, a person

who has really no clout within the

46

industry and really make them influential?

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And so we tested all sorts

of stuff on me, dude.

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Some of it worked and some of it didn't

work, but so much of it did that, that a

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couple years ago I was voted the 10th most

influential person in financial services.

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And it's because if you have a proven

method, you have a good distribution,

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and more importantly, you're really

kind and generous to people, people

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then help you become more influential.

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So that is actually how I ended

up being the chief evangelist for

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Zocks, because I'd built such a huge

network of people who I'd been trying

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to be kind to, and Zocks was really

missing that human component, 'cause

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they're a fintech company, right?

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Um, and they saw what I offered, so when

I came here I presented the now what

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marketing strategy, which was, "Okay,

10 hours a week back in your life.

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What are you gonna do with that time?"

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Everybody else is just

talking about features.

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If we start talking about advisors'

lives, we'll have even greater impact.

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And, you know, I'm at 750,000 impressions

from content, uh, you know, since I

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started here and, and we're starting

to really change the conversation

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Ryan: You know what, Matt?

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I love that.

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I thought, I love that you

brought up just being kind, right?

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I feel as if, for whatever reason,

I'm not gonna get into it, but

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we've lost that sense of kindness

in a lot of ways, and it's amazing.

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It's like that and respect.

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I always get so frustrated.

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It's like, they're very easy to do.

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It's very easy to say

please and thank you.

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Doesn't really take much effort, but

it's a lo- I feel like it's a lost,

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I don't know, characteristic or trait

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MattGPT: Well, it, it makes me sad,

to be really honest, that, that, you

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know, instead … It's good for you.

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See, you, you can believe in altruism,

like, you know, "Hey, Matt, you do

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this because, you know, you're just

trying to be a, a kind person, and

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it's part of my personal mission

statement," and all of that stuff.

80

But, but to be really honest, I

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It also feels good.

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I love helping people.

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I love being kind to people.

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I love when people put time on my calendar

because they wanna pick my brain on what

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I've been talking about and doing for

the last 20 years in financial services.

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And I also like raising people up.

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Uh, I believe that there is more

than enough for all of us, dude.

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I really do.

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And so I don't have that scarcity

mindset where I'm gonna try to, you

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know, poke you in the eye so that I win.

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No, man, I'm gonna put my arm

around you and let's win together.

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And, um, it, it … That's

what my influence is all about.

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Now, there's other influence that's

fairly, you know, um, uh, sensational, or

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they're very controversial, or whatever.

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There's lots of types of influencers.

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Um, but Zocks really liked the

idea that, you know, my, my overall

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thing is I love advisors, man.

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I love advisors.

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The amount of responsibility that

your audience has, most people don't

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understand that level of pressure, stress.

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Uh, you know, I've watched a

couple of your other shows.

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Most advisors didn't get into this

industry to become marketers, you know,

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to write systems, to be tech people.

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They came 'cause they wanted

to help people with their

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money and financial decisions.

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And, um, I wanna do whatever I can to

continue to support this amazing industry

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Ryan: That's awesome, Matt.

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I love it.

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You're doing a fantastic job,

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MattGPT: Thanks, man

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Ryan: job.

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And also, and we're gonna get onto the

conversation, but I feel as if we all

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know this industry is built on trust.

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There's no greater way of building trust

through kindness and, know, respect.

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So kudos.

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Kudos to you, Matt.

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MattGPT: Thanks, Tom

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Ryan: do you feel that financial

advisors are using AI tools

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to their full capabilities?

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And why are they not using AI

tools that are accessible to them?

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There's a lot of AI tools, whether

it's just basic ChatGPT or Claude.

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Uh, what's holding them back?

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MattGPT: It's fear, dude.

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Uh, I, I mean, you know, and the

fact that we're in an industry that

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is so slow to adopt technology.

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And I'm gonna, I'm gonna

actually make a statement that's

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gonna say that that's wrong.

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I, I cannot believe how quickly,

uh, AI has been adopted in

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financial services practices.

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Um, now it is not structured AI.

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It is not AI that is specifically

built for them, right?

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I mean, most people, well, they

don't … Every time you Google,

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you're using AI, dude, right?

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You're using Siri, you're using AI, right?

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Um, so I think it- advisors are starting

to do that a little bit more, but

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they're just scratching the surface.

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Uh, they're, they're,

they're saving time, right?

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They're making some things more efficient.

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Uh, they're making sure that their data

going from this place to this place

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to this place is actually consistent,

which was always a big nightmare for all

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the advising offices that I worked at.

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But the next phase of what AI is going

to be is how can you use this large

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language model and this structured

data to actually service your clients

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better and grow your book of business?

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Um, there aren't a lot of people who

are building those systems, um, whereas

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that has been a major focus for us.

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A- and the other thing too is I think

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There's so much noise around AI.

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Uh, I mean, it, if you run a Google

search or if you go on LinkedIn and

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type in AI for advisors, it's just

like … And most of it's crap.

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It's either AI-generated slop, or

it's just, you know, somebody's

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opinion about something that shows

unbelievable levels of ignorance.

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And then you have a couple of bubbles

up of, of people saying smart stuff.

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Most people don't really re- realize

the power of what AI can do for you,

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what it can do for your business,

what it can do for your team.

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Uh, I mean, uh, we just launched

something recently and, and this to

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me, I get a little choked up, and

not, like, in a bad way, but, like,

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in a really excited, happy way.

159

Um, one of the biggest issues that I

always had in consulting the firms that

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I worked with was the fact that they

had all of these disparate systems.

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Their financial planning tool didn't

talk to their tax tool, didn't

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talk to their CRM, didn't talk to

their email system, didn't talk

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to their calendar system, right?

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Zocks is, like … So I, I like

to equate it to an Oreo cookie.

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So here's your tech and,

and you're the advisor.

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Zocks is the thing in the middle that

makes all of it really communicate and

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work together, and if you could just go

into your computer and say, "Hmm, how many

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people did I talk to about a 401conversion

last year that didn't do it?"

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And all of a sudden you have a list, dude.

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Uh, I mean, how many people

had grandkids last year?

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What, h- 529 plans, right?

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How many people were supposed to do a

Roth conversion that didn't last year?

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How many people brought up

held away assets that we didn't

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gain in the last six months?

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Dude, this is the sort of stuff that

large language models and AI can do

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for you that changes the industry.

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This is a game-changing thing that is

now available to all of your listeners

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that I've been waiting for since 2006.

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Ryan: Yeah, I agree.

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I think it's fantastic.

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Matt, do you think there's a

lot of just misconception or

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maybe misuse of AI right now?

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Financial advisors, they might be using

AI, but maybe it's just for content

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creation or emails, just generic

communication type tasks.

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Do you think advisors are finally

accepting it to more than what it

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really is and what it should be used

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for?

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MattGPT: I, I think w- unfortunately,

most financial advisors think binary.

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It's either y- good or bad, on or

off, it works or it doesn't, and

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that's actually not how AI works.

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It's garbage in, garbage out.

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And so unfortunately, a lot of

advisors get very frustrated

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with AI because it doesn't output

what they want it to output.

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That's because they're not

inputting the right stuff, dude.

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And so, um, you can make AI sing

if you know how to just ask the

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right questions and have it be

clearer and clearer and clearer.

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Um, I, I had a, I had a, a, a woman

came up to me at, at a conference a

198

little while ago and she said, "I found

four mistakes in your AI note taker."

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I was like, "Okay."

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She's like, "Well, it

shouldn't have four mistakes."

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Uh, y- d- did you ever have

mistakes when you took notes, lady?

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I mean, come on.

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Now, please understand, she was an

engineer, and I mean, we all know

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what working with engineers are like.

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But that's the sort … They have

really unreal expec- unrealistic

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expectations of what these systems can

do, and that they actually get stronger,

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better, smarter, faster over time.

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And so I had a, I had a, a guest

on our show, uh, we just launched

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a podcast called Better Practice

Better Life, uh, Human First with AI,

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and the guest was talking about you

need to have AI implemented in your

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practice for an entire calendar year

before you'll ever know if it works.

212

And you know as well as I do, brother,

it's the shiny thing at the conference,

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and it takes their attention, and

they think it's gonna solve all

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their problems, but it doesn't

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Ryan: I- that's a great point about

having it for a full year before you know.

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But so then do you think, if I implement

AI today, one test, it i- like you said

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at the beginning, it is moving so fast.

218

In a year you might think, "Well,

there's something new and shiny out

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that's doing something different.

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What am I doing here?"

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Like, and you brought it

up too about the noise.

222

Like, how do financial advisors shift

through the noise to figure out exactly

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what they need in an AI platform,

AI agent, is it right for them, and

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will it be okay for them in a year?

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MattGPT: Yeah.

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Um, so I think what you really need to

do is you need to talk to your friends.

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A- and, and advisors don't do

this as much as they should.

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I, I remember, um, uh, it was

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on with an advisor, and w- I, I

was life coaching this advisor.

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We had a process called the blueprinting

process that I took the advisors through.

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And, um, he said, "Matt, what,

what you don't understand

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about us is we're on an island.

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It … I don't have any

other coworkers really.

234

I have an assistant."

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Yeah, he was a big producer

with one, one team member.

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He's like, "All I do is see clients

all day, and then I go home, uh, and

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then I, you know, I'm with my family."

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He's like, "I don't really

have other people to talk to."

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And I was like, "Why don't

you go to conferences?"

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"Oh, they're a waste of time."

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Really?

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Like, you don't wanna sit at a table

with 20 other advisors and be able to

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commiserate and have real conversations?

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Especially because some of them might be

able to help you solve their problems.

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And I think that's one of the things

that, um, really does need to happen,

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is you need to have those conversations.

247

That's number one.

248

Number two is it … I talk

about this all the time, how

249

to make your first AI decision.

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The first one is, um, you have

to look at your tech stack.

251

So whatever AI you're looking

for has to securely integrate two

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ways with your tech stack, right?

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And then number two, test

them all side by side.

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All of us will offer you a trial.

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Well, I don't know if all of

us do, but almost all of us do.

256

And see what user interface you like.

257

See which one gives you

the outputs that you want.

258

You have the opportunity

to make these decisions.

259

And the Ezra Group, uh, just did a study

a little while ago about how quickly,

260

like literally, you can integrate

all of the stuff, uh, with, with an

261

AI platform, and it's, like, days.

262

So within days, your audience can be

entirely up and running testing two

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different, uh, you know, AI systems back

to back and side by side so that they can

264

make a better, more informed decision.

265

It's … Uh, that's what I would

really recommend that they do.

266

Talk to your friends.

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Test them side by side.

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Ryan: That's funny when you say days.

269

I-- initially when

270

MattGPT: Yeah.

271

Ryan: thinking

272

MattGPT: No.

273

Days, dude

274

Ryan: and, and it goes back to what

you were saying earlier, this industry

275

is so slow in adapting new technology,

except for now they're forced…

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MattGPT: That's right

277

Ryan: to, right?

278

Otherwise they're, I don't

wanna say it, but they might be

279

done

280

MattGPT: no, uh, and I'll say it for you

'cause I've actually said this from many,

281

many stages, is AI is the comet to coming

to kill all of you dinosaurs, right?

282

So th- this is not…

283

In fact, uh, I'm, I'm working on an

article right now, uh, for, for one of

284

the trade pubs basically talking about,

um, your clients are bringing you AI.

285

Uh, and I'm sure you've

heard this at conferences.

286

You've probably heard this from clients.

287

Man, I had a client who came in and

brought me a spreadsheet of, of all of

288

the trades that we executed in the last

six months and, and was ask- you know,

289

AI was like, "This was a bad trade."

290

Right?

291

And advisors are flaming pissed about it.

292

They don't realize that guess what?

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They were there doing that before.

294

They were just taking notes on

watching CNBC, or they're talking to

295

their crazy uncle who made all the

money in the stock market, or they

296

were at dinner and somebody had said

something somewhere else, or they're

297

reading The Wall Street Journal.

298

This is just a much faster, more

succinct way to go ahead and aggregate

299

large language pieces of data, right?

300

But if you're not gonna move in this

direction, first off, your practice is not

301

gonna be worth as much when you sell, and

two, your clients, when it comes to speed

302

to service, which is really what AI does,

and uncovering opportunities for you in

303

your existing book of business, those are

the things that if you're not doing that,

304

you are a dinosaur, and unfortunately,

we're the big comet coming to kill you

305

Ryan: You're exactly right.

306

Exactly.

307

I'm glad you said it.

308

Glad you said it

309

MattGPT: Uh, uh, I'm allowed to say that.

310

I actually got that one

approved at Tox here, so

311

Ryan: Awesome.

312

Awesome.

313

mentioned it, we talked about it

earlier that this industry is built on

314

trust, whether it's the vendor, technology

vendor like Zocks being trusted by

315

the financial advisor or the financial

advisor having the trust of the clients.

316

Do you think advisors fully

trust AI at this point?

317

MattGPT: Man, dude, I'm

gonna go back a little bit.

318

I don't think advisors

trust tech still, right?

319

I, I mean, you know, you're

oversold on your CRM, it's gonna

320

solve all of your problems.

321

Your financial planning tool is the

greatest financial planning tool.

322

You're never gonna have to go ahead

and blah, blah, blah ever again, and

323

it doesn't live up to expectations.

324

So there's been a pattern over time

that, that AI has even a heavier

325

lift because of how much it can do.

326

What most advisors are doing

is they're starting with like,

327

you know, low-risk things.

328

Again, note takers, that's where our

system, pretty much all of us started.

329

Um, but, but they're really

not integrating things.

330

They're afraid of how it's gonna talk

and all of those sorts of things.

331

And, and this is gonna be somewhat

of a shameless plug, but it's really

332

important to me as a person who's been

working in this industry for so long.

333

Everything that Zocks built was

built for SEC and FINRA realities

334

and compliance and privacy in mind.

335

And so, like we don't record anything.

336

Ours is live transcription, which

is kind of a big deal, right?

337

We have ways to protect

PII going back and forth.

338

A lot of other organizations

don't have that, and I think that

339

trust is gonna be built over time.

340

I think, you know, you, you, you

use the note taker, uh, and you see,

341

"Holy Moses, I missed a whole bunch of

stuff," and then you go from note taking

342

to, you know, having a meeting prep.

343

With the click of a button, you

know, you're prepared for your

344

meeting in minutes instead of hours.

345

And then you go ahead and click the

button to do a lot of the follow-up tasks.

346

And then you click the button to go ahead

and integrate with your e-money and all

347

of the different systems that are there.

348

And then you start going ahead and

looking at all of the structured

349

data and asking it questions.

350

But I think it's an incremental thing,

um, that once you get confident with this

351

level, you're gonna move to this level.

352

In fact, that's really what my job

is now, is to get the thousands

353

of advising offices that are

using us to take that next step.

354

Because most of our clients, they

just … The, the note taker is like

355

the greatest thing since sliced bread.

356

But once they turn on a couple other

buttons and they see how it all starts

357

working together, is really amazing.

358

The other thing too is

look at social proof.

359

Social proof, um, so, uh, my favorite

sales book of all times, uh, i- is,

360

is a book called, uh, Principles

of Influence by a guy named Dr.

361

Robert Cialdini.

362

And so Ryan, I don't know

if you've read that book.

363

If not, dear God,

everybody needs to buy it.

364

And w- it talks about

365

Ryan: I just wrote

366

MattGPT: Yeah, wonderful.

367

It, it's the, it's the ethical

influence, like how do you get

368

people to do what they wanna do?

369

And one of the most important ways

to build trust is social proof.

370

So when you have organizations

like Hightower, Osaic, Cetera,

371

right, Kestra, Cambridge, right?

372

You've got these huge firms that, that

have looked at us and said, "Wow, uh,

373

we're gonna stick with them," that's

the sort of social proof that you know

374

that the level of due diligence these

large organizations are doing It is

375

not the same due diligence you can do,

'cause you don't have the team to do it.

376

So look at the social proof,

dip your toe in the water, then

377

take a step, then take a step.

378

It's the, you know, how

do you climb a mountain?

379

You take one step toward the mountain.

380

The mountain is AI.

381

You just need to start taking those steps

382

Ryan: Exactly.

383

And like you said, whether it's just

a chatbot, notes, note-taking, so-

384

and just see how that works, how you

like it, and then just go from there.

385

I feel as if that's the case

with a lot of technology.

386

When I was in the industry 20 years

ago, the technology, we, we just used

387

a little piece of it, and then all of

a sudden there, you know, the account

388

manager came in and showed us how.

389

It blew our

390

minds.

391

It was like, oh my gosh, what

have we been doing here this whole

392

MattGPT: Yeah

393

Ryan: And same case with AI here too.

394

I often think on the investment side,

we're getting all these new ETFs, crazy

395

ETFs, new products, and when the markets

are ripping higher every day, every month,

396

these products all look great, right?

397

Everything looks great right now, but how

do you think advisors and their clients

398

will react to AI when we finally have an

extended bear market and, you know what,

399

hits the fan and things start to blow up?

400

Do they trust AI even more, or are

they gonna pull back and be, "You know

401

what, I'm just gonna do it on my own"?

402

MattGPT: Yeah.

403

So the advisors who do that,

they're, they're donezo, dude.

404

Um, one, one of my favorite stories is

a, uh, uh, an advisor, uh, she had…

405

She was the third advisor, uh,

that this couple was interviewing.

406

And so, uh, you know, they came

in and, and she had our, our, our

407

notetaker in, in place, 'cause you

can either have it on your phone

408

or in your, your, your computer.

409

And they're having this great

conversation and, and, um, so the

410

conversation gets done and, and, and

she says, "Well, so, so, you know, very

411

soon, uh, you know, you're gonna get

a follow-up email summarizing this.

412

You're gonna get the tasks that I'm gonna

do and the tasks that you need to do.

413

And I'm also gonna give you a short

example of the kind of planning that we

414

do based off our conversation today."

415

They're like, "Oh, yay, great."

416

So, you know, shook hands.

417

You know, "It was great to

meet you," and they left.

418

By the time that couple got

home, all of that was done.

419

And so y- the couple gets, gets home

and, you know, uh, the, the s- the

420

spouse opens up the phone, uh, a-

and he looks at his wife and he goes,

421

"Hey, she emailed us all that stuff."

422

And she's like, "What?

423

What are you talking about?

424

We just left there."

425

So they called her, "Hey,

uh, how did this happen?

426

Like, you just sent us a beautiful

summary of everything that we just talked

427

about, what your firm is willing to do,

what we need to do to move forward with

428

your firm, and you gave us a, a rough

financial plan that actually showed

429

that you were listening to all of the

kind of hopes and dreams that we have.

430

How did you do that?"

431

And she said, "This is the technology

that we've implemented into our firm

432

because we know that it is wildly

important for us to get you answers

433

in a much more timely manner."

434

And, and the, the, the husband said,

"The other three people we interviewed,

435

we haven't even heard from them yet.

436

It is weeks ago."

437

That is what…

438

That's where the bear market stuff

happens because there's gonna be

439

so many people who are gonna be

looking for another advisor because,

440

you know, they're not generally

gonna leave because of performance.

441

You and I know this.

442

They generally leave because

of poor communication.

443

That's, that's been…

444

Kitces has come out with

that for 20 freaking years.

445

Everybody's been talking about that.

446

Even if you don't have the greatest

performance, if you are communicating

447

effectively, quickly, and, you know,

with really good information to your

448

clients, generally they're going to stay.

449

There's gonna be so much money

moving 'cause once the FAANG craps

450

itself, which it's gonna, uh, I'm

not a analyst, it's just gonna happen

451

'cause that's how everything works.

452

That's called a market.

453

There's ups and there's downs.

454

It can't just keep going straight up.

455

Um, but when this does happen,

those advisors who are implementing

456

technology, uncovering new opportunities

in their book of business by

457

asking simple questions, right?

458

Expect- uh, clients are expecting

faster and more complete communication.

459

AI helps with that, right?

460

This is what you need to implement

now because you all know that's

461

going to happen, and if you wanna be

successful when the market isn't great,

462

you gotta have a good tool in place

463

Ryan: Matt, I'm so glad you brought

that up because you're exactly right.

464

It's all about

communication, communication.

465

If this speeds up your communication

transparency to the client,

466

it'll make these tough times and

the times of chaos much easier.

467

So that's a perfect segue, Matt.

468

Now it makes it so much quicker.

469

You have this communication,

maybe a prospect meeting.

470

an hour or so, you already send

out that information, that proposal

471

generation, the notes, financial plan.

472

Now, what should the financial

advisor do with their free time?

473

Go hit the golf course, go,

you know, spend time with the

474

MattGPT: Yeah

475

Ryan: What should they do

with this free time now?

476

MattGPT: So th- this is, I'm, uh, I'm

gonna go back to the binary thinking

477

of my friends and financial advisors.

478

It's either work or not work.

479

Uh, a- and so I, I don't think

it is black and white here.

480

On average, what our, our research,

and actually not our research, our

481

strategic partners' research has

shown us is, um, we save about 10

482

hours of team's time a week, okay?

483

So y- you're not gonna go

spend … Some of you will want to

484

spend 10 hours on the golf course.

485

But I'm gonna challenge all of you

here, 'cause I think you need to put

486

it in a couple of different buckets.

487

So I want you to take … So that, by the

way, a week, a week of your team's time

488

every month, and you know how back using

real AI assistants like what we have here.

489

So why don't you take,

490

why don't you take three hours e-

every week you go play golf, right?

491

Or maybe every other week

you go play golf, right?

492

Then I want you to take a couple of

hours and, and why don't you work on

493

yourself, I don't know, psychologically?

494

Why don't you work on

yourself spiritually, right?

495

Why don't, why don't you do stuff to

make yourself a better human being?

496

Start figuring out ways to give

back to the community, fill your

497

soul, uh, help other people to,

to make them live a better life.

498

And then peel off five of those

hours, we're still working on the

499

40 hours, five of those hours, and

do in-person client events, which

500

by the way, are really successful.

501

Um, and then why don't you do, uh,

a couple of extra webinars, right?

502

That are just free to your general

public that you're gonna be able to

503

educate people on what you know about.

504

And then, I don't know, why

don't you go out on a date?

505

Because here's the deal, most advisors are

spending after 5:00 on their notes, dude.

506

Following up on their notes and their

tasks and all of those sorts of stuff.

507

Work on your personal brand.

508

Find a niche.

509

Start creating real content.

510

You have so much time, and it

all just can't be more work.

511

You're n- you don't need to see more

clients, 'cause we already know that

512

the, 150 is the amount of relationships

we can have w- that are deep, right?

513

So you're not gonna be able to double

your cl- I mean, some of you are gonna

514

try to double your client household,

which means you're gonna give most

515

of those people terrible service.

516

But work on yourself.

517

There's, there's a, somebody in the

industry who will re- remain nameless

518

who, uh, had a major epiphany, uh, m-

because of some tragedy in their life,

519

uh, and they've really swung the pendulum

from being very, very money-focused to

520

really focusing on their spirituality.

521

And, and part of that is, is because so

many of you think that the hole that you

522

feel in your soul, that kind of emptiness

that you feel can be filled with money.

523

Um, and so what I'm asking you, which

is really not a normal thing to ask all

524

of you hard-charging business owners,

is y- you gotta still feed your soul.

525

And when you're given the gift of

the one thing you can't make more of,

526

so there's time, talents, treasures,

rela- Relationships and control are the

527

five things that you can give up to be

successful, 'cause the universe doesn't

528

just give you things for no reason.

529

We're giving you back

530

10 hours a week.

531

Just take a little bit of time and work

on yourself as a human, because when you

532

do that, you're gonna be surprised that

your business is gonna get even better

533

Ryan: That's fantastic, Matt,

and such great insight there.

534

And I often think too, that 10

hours, have more team events.

535

Take your team out golfing, take them

to wherever, out to lunch or dinner.

536

Reward them also for all the

hard work that they're doing.

537

S- fantastic insight because I do

believe the more you do with your life,

538

whether, you know, help your soul, it,

it comes back to your work environment

539

too, and everyone, everyone wins.

540

Everyone wins, Matt.

541

So I think that's fantastic.

542

I'm gonna, I'm gonna have

to start doing that more.

543

MattGPT: Yeah

544

Ryan: Um, for sure.

545

what does a next gen or new advisor

who is, you know, uses AI, AI-enabled

546

advisor look like moving forward, do you

547

MattGPT: Yeah.

548

So there have been a lot of people

talking about this and writing about

549

this right now, and I'm very, very

happy where the conversation's going.

550

So this next AI-enabled

next-gen advisor, it's all about

551

judgment and relationship first.

552

AI does not have judgment.

553

AI cannot make a relationship.

554

AI can just handle the, the,

the paperwork very clearly and

555

succinctly with less errors.

556

That's also gonna increase your trust.

557

But it's also gonna give the opportunity

for you to spend more time to build the

558

relationship, and that is unbelievable.

559

The speed to servicing that I was

talking about is another thing that

560

is expected now that most of you

are just not doing a good job with.

561

The things that used to take a week.

562

I, I mean, I, I've known advisors who

I've coached, it was a week before

563

they executed all of the trades and

got all the paperwork submitted and,

564

and delegated all of the tasks and,

uh, you know, did all of the follow-up

565

and stuff that they needed to do.

566

That's gonna be able to be done

in minutes, if not an hour.

567

And so that's what people are gonna

be expecting, and that's what the

568

next gen is really looking for.

569

The other thing that I

think is wonderful is

570

You, with the click of a button, you're

gonna know what the last 10 meetings

571

were with a summary of what you talked

about, what their concerns were, what the

572

tone of the meeting was, what you said

you would do, what they said that they

573

would do, what you did do, what they did.

574

And you're gonna be, have this wonderful

one-page document that is gonna give

575

you a summary of birthdays, kids,

grandkids, vacations that they took

576

so that you can be so prepared going

into a client meeting that the client

577

Y- you're not gonna have to do … And

I know a lot of your listeners

578

have done this, where they're, you

know, walking into the meeting and

579

they're, they're like, "Oh my God.

580

I have no idea what the heck I talk

to about these people with," right?

581

And so that's what is this next thing.

582

One of my favorite stories, uh, it's

actually from, uh, one of our salespeople.

583

His name's Rex, and I love this guy.

584

He's, he's beyond a salesperson.

585

This guy's s- very sage-like.

586

And he was telling us a story, uh,

about a, a client who … So she

587

was, she's a pr- younger advisor

taking over from an older advisor,

588

and he's almost on his way out.

589

So it was like this was, like,

the last meeting, uh, that, that

590

she had, was the biggest client,

the humongous client, A++ client.

591

She was a little bit nervous

about it, and so, uh, the primary

592

advisor didn't go to the meeting.

593

Uh, this was her first

meeting with him on her own.

594

And the, the client came in and,

and, um, he was really distraught.

595

And she was like, "Hey, hey, John.

596

What, what's going on?"

597

And he said, um, "My daughter's

favorite chicken," he named his

598

daughter, named the chicken, "uh, is

in the hospital and, and I just got

599

off the phone with my, my daughter.

600

She's freaking out."

601

And, and the advisor was like, "What?

602

Your daughter's favorite

chicken's in the hospital?"

603

I mean, she's like, "Oh," you know, of

course she was like, "Oh, I'm so sorry

604

that happened," and so on and forth.

605

And he's like, "Yeah, yeah, yeah.

606

You know, I just want you to know

I'm just a little bit distracted."

607

So then they go in and they

have their meeting, and the

608

meeting goes incredibly well.

609

So in our post-meeting follow-up, uh, in,

in the summary, it said as a suggested

610

action, "Send daughter," name, "and

the chicken," name, "a care package

611

for the chicken in the hospital."

612

And she was like, "Well, that's peculiar.

613

Whatever.

614

What's the worst thing that can happen?"

615

So she did.

616

She actually sent a care package to

the daughter with the name of the

617

chicken Minutes after it landed, the,

the biggest client she had called her

618

up, "I cannot believe you did that.

619

I can't believe that you were so

thoughtful to send my daughter

620

and her, her chicken, who's

recovering, um, a care package."

621

And here's the best part.

622

So that's just warm and

fuzzy, touchy-feely.

623

She did maintain the business from

the guy who was the biggest client.

624

She also got her daughter.

625

That is what is the expectation that's

gonna be happening very, very, very

626

soon, because if you're not having

that level of detail and that level of

627

preparedness that you can now do with

the click of a button, dude, you're not

628

gonna be winning all of that business,

and that's what the next gen, not just the

629

next gen advisors look like, but that's

what the next generation of investors

630

and people who want relationships

with advisors are gonna expect

631

Ryan: I love that example, Matt.

632

That's fantastic, and it goes back to

something I've said a lot or heard a lot.

633

AI is great support however you wanna use

it, but it's gonna make the relationship

634

building and being somebody who likes

relationships even more important.

635

Because like you said, AI,

it doesn't feel empathy.

636

It d- can't build a re- It can help

you, though, build better relationships,

637

just exactly what you said, and it's

ma- and it will make the responsibility

638

of advisors in building relationships

even more important, which is a

639

MattGPT: Yeah

640

Ryan: How do you get advisors who

built successful practices, like you

641

said, might be million-dollar practices

years ago, they're set in their ways.

642

They're like, "I built this

643

thing the way I did.

644

Why do I need to change and adopt AI?"

645

What do you tell those advisors?

646

MattGPT: Well, I use the, I use

the asteroid analogy a lot, dude.

647

And, and sometimes that, uh,

doesn't go over incredibly well.

648

Um, it, it has to be

incremental change, right?

649

So, w- and, and this is the reason why

the notetaker is still such a great hook.

650

Because if I say to my…

651

You know, so, uh, I'll

use a couple of examples.

652

So one of the advisors that I coach

is a humongous Ameriprise advisor.

653

I mean, she always had her junior

advisor at every single solitary meeting.

654

So labor-wise, from a profitability

standpoint, those were less

655

profitable clients, and her associate

wealth advisor, who was really,

656

really freaking smart, would miss

things, or he'd get sick, right?

657

And so if he was sick, he

couldn't be in the meeting.

658

AI is never sick, right?

659

And, and AI can be templated over time.

660

It'll start learning exactly what

you want those notes to look like.

661

It doesn't get it perfect the first time.

662

The first time it's gonna be 20 pages

long, and then you need to go ahead

663

and adjust and adjust and adjust

until it gets to what you want it.

664

You save that as a template.

665

Bam, Bob's your uncle, it works.

666

But so that's what, that's

always the entry point.

667

The entry point is not integrations

and helping you do financial plans.

668

It's not gonna, you know, integrate

with MCP and help you create a custom

669

slide deck for each client, you know,

before they come in that's built off

670

PowerPoint with your brand standards.

671

It's finding those very,

very small paperwork issues.

672

Those time that you have

to spend with your notes.

673

The time that you, knowing that you don't

remember and you missed an opportunity.

674

When all of those things,

an advisor can really see

675

themselves making those changes.

676

But g- let's get back to the Ezra

group, what I talked about before.

677

Technology used to take

forever to implement.

678

You know, I, I mean, there's

people who are still messing

679

with their Salesforce, right?

680

You know, I mean, that's a great example.

681

Uh, or, or, you know, their

CRM still doesn't do everything

682

that they want it to do.

683

W- we built a system that it's

pl- it's literally plug and play.

684

Do you need to make

adjustments and tailor?

685

Yes, but the system works out of the box.

686

So there's, there's, there's what … So

there are so many people who are

687

able to go ahead and implement our

system without any sort of training.

688

But this changes the power dynamic,

and this is where a lot of advisors

689

struggle because they'll say, these,

these older advisors generally will be

690

like, "Well, I don't want to use it."

691

Okay, listen, dude, I

don't care if you use it.

692

Your team wants you to use it, right?

693

I mean, they're tired

of chasing you around.

694

O- one of my, one of my favorite

experiences here, I just started

695

here, and I went to Estate

Con, which is wealth.com's,

696

uh, conference, and, um, and I

had … This woman came up to me.

697

I had, like, like, I didn't e-

I had, didn't even have, like,

698

any Zocks clothing at this point.

699

I was, like, two weeks into the business.

700

They're like, "Go.

701

You need to meet people."

702

So I went to the conference,

and this woman came up to me

703

and she said, "Hey, Zocks guy."

704

And I was like, "That's not me."

705

I didn't know what she was talking to.

706

She's like, "Hey, Zocks changed my life."

707

And I, and honestly, man, I, I thought

I was getting hazed by the two senior

708

salesper- people that were there.

709

And, uh, and, and she's like, she's

like, "No, no, I'm, I'm serious."

710

And I was like, "Well, you

know, tell me about your firm."

711

She's like, "It's not my firm."

712

And I'm like, "What's going on?"

713

And she's like, "I'm the chief

of operations for … " You

714

know, we have seven advisors.

715

"I spent 50% of my time chasing them

down for all of the tasks, all of

716

the notes, to be able to tr- you know

717

And then I'm spending all of that

time, you know, on all of the meeting

718

prep and then, you know, and then

they would never do the follow-up."

719

She's like, "You guys

saved me 50% of my time."

720

So those grumpy old advisors, right,

who don't want to change, I don't care.

721

Your team does.

722

That's gonna be where it … You're

gonna get the biggest bang for your

723

buck because you go into a meeting,

your team member clicks a button,

724

Zocks is there, the meeting's

over, you click the button, right?

725

Then your team can actually get

all of the notes, all of the stuff,

726

get ready for the meetings, do

all … That, that's where we win

727

Ryan: Love it.

728

Love it.

729

So with that then, we've talked

a lot about just the time

730

MattGPT: Mm-hmm

731

Ryan: AI can free up.

732

Maybe it's using AI to b- find the best

ETF or mutual fund for your clients, or

733

maybe it's proposal generation or content

creation, using AI for content creation.

734

What do you think is the biggest

opportunity for advisors who adopt AI?

735

MattGPT: Uh, one, I think it's

going to be real organic growth.

736

So there's so many people who are

constantly talking about organic

737

growth, but here's the deal.

738

It costs so much more to get a

new client than it does to sell

739

an existing product to an existing

client, and I think we've forgotten

740

that very simple business component.

741

When you can go into your book of

business and ask that question about,

742

you know, grandkids, you know, "How

many of my clients' kids got married?"

743

Um, you know, "How many of my kids or my

clients were bragging about their daughter

744

who just got a promotion at Apple?"

745

Right?

746

Being able to uncover those opportunities

in your existing book of business

747

where you can make a quick phone call

to Julie and say, "Hey, Julie, gosh,

748

in our last meeting, you were talking

about how your daughter just got

749

promoted to a huge position at Apple.

750

Um, do you know what sort of

financial education that she's gotten?

751

Uh, would you mind if I reached

out to her and gave her a call?

752

'Cause I've been your

family's advisor for 20 years.

753

Would you be okay with

making that happen?"

754

And of course, she's gonna say yes.

755

That's what…

756

That's the next level.

757

That is the opportunity that is already

sitting right in front of you that

758

you guys all can't see because you're

too busy doing the other things.

759

The other thing is, is confidence, dude.

760

And again, this is warm and fuzzy,

touchy-feely stuff, but when you, 5,

761

10 minutes before your client meeting,

you can sit down and have that meeting

762

prep document done where you know all of

the conversations, all of the pertinent

763

information, suggested questions, oh, you

know, talking about some of the things

764

that they wanted to talk about last time.

765

Um, all of those things, your

confidence level goes way up, which

766

means your stress level goes down.

767

So you're walking into a client meeting

with a different level of confidence

768

instead of being freaked out 'cause

you don't remember all of the stuff.

769

It's freaking right there, and, and

that's one of those unquantifiable things.

770

You know, we can help

you grow your business.

771

We can reduce your admin time.

772

We can reduce your NIGOs and, you

know, bad, in order paperwork,

773

all of that sort of stuff.

774

But when I can make you feel better,

stronger, smarter, faster, and that

775

you're gonna be able to provide even

better client service just because

776

of a piece of freaking software?

777

And here's the other thing.

778

We're what?

779

100,000 people short

in financial services?

780

Right?

781

I mean, so many people are

retiring, and we have a really

782

old population in this industry.

783

AI efficiencies is gonna be able

to, one, help you attract way better

784

talent, and two, you're gonna be able

to get them up to speed way faster.

785

Which, by the way, is probably a whole

nother podcast, uh, that, that we

786

could do on just the talent aspect,

uh, in associate wealth advisors

787

and moving people through the ranks.

788

Uh, but that is another

really important thing

789

Ryan: Matt, let's schedule it now.

790

Let's schedule that on next

pod- the next podcast now.

791

MattGPT: fantastic

792

Ryan: I love all the touchy-feely

stuff that you're talking about because

793

when I started in AG myself in the

794

It was just stockbrokers selling,

buying stocks, you name it.

795

Now, it is so all about relationships,

so you need to be good at the

796

touchy-feely stuff, whether really

you're on the investment side or not.

797

Those days are long gone.

798

Now it's relationship.

799

Everything that you've just talked

about during this podcast is so true.

800

lastly, last

801

question here for you, Matt.

802

What's the thing about AI and

financial advice that you don't

803

think people are talking about?

804

MattGPT: Well, and I'm gonna be beating

this drum as long as I'm here, which

805

is what are you gonna do with the time?

806

Everybody's so focused on the time

savings, but nobody's giving any advisor

807

a solution on what to do with that time.

808

A- and it, I, when you are right with

yourself, you are gonna be a better

809

business person, you're gonna be

better in your relationships, you're

810

gonna be better with your community.

811

A- and we…

812

That's what makes a great

business person, in my opinion.

813

If you're really truly gonna be great

in business, if you're truly going to

814

want to help your clients, which all of

you do, when you have that extra layer

815

of security, understanding of yourself,

mental wellbeing, physical wellbeing,

816

your health is in, you know, in check.

817

When you're not walking into a

meeting with blood vessels popping in

818

your nose and your forehead because

you're so stressed out, and you're

819

70 pounds overweight because you work

all the time, your clients see that.

820

They worry that you're not

taking care of yourself.

821

But if you walk in, you're calm,

you're relaxed, you know, you just

822

had a wonderfully spiritual fulfilling

experience, or maybe you went out and,

823

I don't know, volunteered at a local

food bank, and you just got that good

824

feeling of just being a better human,

your clients are gonna feel that.

825

I also think that, uh, firms that

are really winning with AI, and

826

this is really not talked about

enough, are using that extra time

827

and that extra, um, lift, which is…

828

I, I, see, I like it to be

called augmented intelligence.

829

I hate that it's called

artificial intelligence.

830

Because it's like Tony

Stark's super suit, right?

831

Uh, so he puts on the Iron Man

outfit, he's different, right?

832

He's stronger, smarter, faster, better.

833

Well, I mean, he can freaking fly

and all that cool stuff, right?

834

This is what advisors need to do,

and they can then put that super

835

suit on their, their other team.

836

They can put that on the new advisor

coming in, and we're gonna start seeing

837

how much faster new advisors can get into

client relationships instead of doing

838

all of the menial stuff that advisors

want them to do to learn the industry.

839

That, that time is gonna

be shrunk exponentially

840

Ryan: Yeah.

841

I love that au- augmented

842

MattGPT: Yeah.

843

And I think the last one, dude,

is AI can save your butt, right?

844

Uh, so I'm, I'm at a, I'm at a large

insurance conference, uh, a little

845

while ago, and, uh, this large general

agent, I, I didn't know who he was, I

846

didn't really realize he was that big.

847

But I, I do these, like, Johnny

on the Street interviews.

848

And, um, and he came up to

me and he's like, "Hey, I…

849

Can I do an interview with you?"

850

I was like, "Let's go."

851

So, you know, we walked

over to this place.

852

And, and so I said, you know,

"Hey, you know, uh, I'm Matt GBT,

853

I'm here at the LIMRA conference.

854

You know, hey, I'm here with John.

855

Uh, you know, John, you pulled me aside

and said that you wanted to talk about AI.

856

What do you wanna talk about?"

857

And he grabs the microphone,

which, you know, again, whatever,

858

I should have held onto it.

859

But he grabbed the microphone,

he goes, "Here's the thing."

860

He's pointing at the camera.

861

"AI saved my butt."

862

And I'm like, "Okay, elaborate."

863

C- of course you couldn't hear me

'cause he was holding the microphone.

864

And he goes, "I had a client complaint-

865

We had the transcription.

866

I submitted the transcription.

867

They're like, "Nope.

868

Th- your complaint is not valid."

869

And the advisor was like, "Do you

have any idea what that did for me?"

870

So when it comes to compliance,

when it comes to privacy first, when

871

it comes to those sorts of things,

I don't think that we're talking

872

about those auxiliary benefits.

873

Nigos, how many times do you submit

paperwork to your home office and it

874

gets kicked back because one number's

wrong 'cause somebody miskeyed something?

875

That doesn't happen anymore

because we go field to field.

876

And so, yeah, there's a

whole bunch of stuff, dude.

877

But those, those are, those are my things.

878

And again, I'm always gonna lean on

the number one thing that's the most

879

important to me is I've been a life

coach in financial services for 20 years.

880

I want all of you to live a better

life and not just have a better

881

practice, and you can do that when

you have great tech in your background

882

Ryan: That's fantastic, Matt.

883

I think that's a perfect way of wrapping a

bow up on this show and this conversation.

884

That is awesome.

885

I love that last example of

covering your butt with compliance.

886

I've had a lot of conversations,

haven't really had that one

887

yet, so that's fantastic.

888

Thank you so much for sharing.

889

Matt, thank you so much

for coming on the show.

890

Like I said, it was such

an honor to have you on.

891

Really fun conversation.

892

I learned a lot, a of great insight.

893

Thank you.

894

Where can our audience get

more information about Zox?

895

MattGPT: just go to zocks.io,

896

uh, and that's gonna be the best place.

897

You can book a demo there,

you can do a free trial there.

898

Uh, we've got all sorts of great

information that you can have there.

899

Uh, if you're an existing

Zocks user, please make sure

900

you go to the Zocks Academy.

901

Great information on how you can use

our products and services even more.

902

And very shamelessly, if you're

not following me on LinkedIn,

903

I'm putting out content.

904

Uh, I talk about most of this

stuff almost every week, uh, and I

905

would love to be able to continue.

906

Uh, I'm not selling anything.

907

Uh, I'm just here to try to educate

the financial services public on

908

really best practices with AI, uh,

and, and how it can help you have

909

a better practice and a better life

910

Ryan: Yeah, that's fantastic.

911

Matt, I, a lot of people may not

agree with this or believe it,

912

but I do do some research and prep

work before coming on the podcast.

913

Zox, I've known Zox for some time.

914

You guys do a lot of great research

content, information on the website.

915

I followed you for a long time also.

916

I cannot re- recommend following you

and, uh, on and connecting on LinkedIn.

917

A great site, great content.

918

You guys are doing great things.

919

I love

920

MattGPT: Thanks, man

921

Ryan: So thank you so much for listening

to this episode of Adjusted for Risk.

922

You can watch all of our other

episodes on the Adjusted for

923

Risk YouTube channel and Spotify.

924

Also, please be sure to like and

subscribe to those channels, and

925

also give us a follow on LinkedIn.

926

you very much and have a

great rest of your week