The only constant is change. As paraplanners, we need to be riding the AI wave, opening our minds to growth and focusing on what we can control, says Ashley Wiltshire, founder of outsourced paraplanning firm Wiltshire Paraplanning.
In this past month I’ve been reading a lot about AI and the differing opinions on what this means for paraplanners. I feel some have been quite sensible and rational, whereas there have been a couple of articles that have not.
It was last year when I first heard about some of the new technology coming out and initially, I had that feeling of panic within me. Being self-employed you have an extra layer of fear when it comes to big changes in the industry, especially when you have other people within the business to think about too.
But at the same time, it is a very normal feeling to have at any time when you are running your own business. What makes the difference is the action we take. Instead of sitting in fear, I started thinking and being curious.
It can be easy to feel overwhelmed by change, especially at the speed AI is developing, which is why I wanted to focus on how we as paraplanners can use our mindset to help navigate through these changes.
One thing I would like to make clear, mainly because I have heard paraplanners and others talk about it – AI does not eliminate the paraplanner role. Quite the opposite in fact. I am seeing AI as a way to enhance my capabilities for my own benefit. I am grabbing hold of the reins of this wild horse, and I am taking control.
Here are my tips for paraplanners to stay focused and ride the wave that is AI:
1. If you haven’t already – get curious! Start looking at the AI solutions available – most will offer free demos and I would suggest looking at a few. They all offer different things. This is where you can get creative. Think about how AI could enhance your daily routine? Could it make you more efficient or quicker? See this as an opportunity to learn. As paraplanners we never stop learning; use AI to your own advantage. For example, there are systems that can data gather for you and then pull out anything that is missing, based on your own check list, and put it in an email for you. There are even AI solutions that can build reports. Think of the time this could save so you can add more value elsewhere!
2. Find yourself a support system and try to look outside your bubble. It can bring new ideas and understanding around change. As a business owner, I have recently started working with a Financial Growth Company which involves weekly meetings with a group of women who run their own businesses. I have loved how I can bounce ideas off of the group and have found that it has given me courage to implement new things. Before joining I had lots of ideas but didn’t do anything with them – then I would get frustrated that nothing was changing. Since working with this new group I have felt excited again and it has helped me to overcome my fears and make things happen.
3. Your outlook and attitude towards change is so important. Fear or resistance to change will often lead to anxiety and burnout. Be mindful of the ‘chatter’ in your head, the things that give you that panic feeling inside. Remain open, believe in your worth and you will find ways to adapt and be resilient. For me, making sure I am making time for myself keeps me mentally strong – I like to make time for my husband and me to go places, work out, meditate and write down things I am grateful for.
4. Focus on what AI can’t do and that will tell you where you can add value. AI lacks in empathy and nuanced judgement. We as humans can provide more value and visual clarity by adding personalisation to client recommendations and the final report. Remember, we are not just report writers. We are so much more!
AI is not here to replace us; it is here to empower us to deliver even greater value to our clients. Whilst the landscape of paraplanning is inevitably changing, we have a unique opportunity to shape our future with AI at our side. By fostering curiosity, building supportive networks, maintaining a positive mindset, and focusing on our inherent human qualities, we can not only survive but thrive in this evolving environment.
Take the leap, explore the vast possibilities, and embrace this journey of growth and innovation with an open heart and a creative spirit. If we take control, we can blend human intuition and AI innovation to ultimately enriching our profession and our clients’ experiences.
