AI for Advisors newsletter
Two out of three financial advisors are using ChatGPT wrong.
Not wrong as in “asking bad questions” or “not using it enough.” Wrong as in they’re running a Ferrari in first gear and wondering why everyone says it’s supposed to be fast.
Here’s what our latest Horsesmouth Advisor-AI Usage Survey shows: 64% of financial advisors use ChatGPT for business purposes. But only 32% have filled out their Custom Instructions, the Personalization text boxes that transform ChatGPT from a generic assistant into one that knows your practice.
That means roughly two-thirds of advisors are getting generic, forgettable outputs when they could be getting customized, context-aware responses that sound like them and fit their clients.
Two advisors, same prompt, different results
Meet Sarah and Mark. Both use ChatGPT daily. Both asked the exact same question this morning:
“Help me write an email about portfolio rebalancing during this volatility.”
Sarah’s experience (no Custom Instructions): She gets three paragraphs of generic investment education. It sounds like it was ripped from a textbook. Phrases like “strategic asset allocation” and “risk-adjusted returns” everywhere. Wrong tone for her clients. She spends 15 minutes rewriting it to sound human. It still feels “off” when she sends it.
Mark’s experience (has Custom Instructions): He gets an email that sounds like him. It opens with his signature style—a question to the client. It references his typical client profile (retirees with $2 million portfolios). It includes his go-to rebalancing analogy. The tone is warm but professional, exactly how he communicates. He makes two small edits and hits send. Three minutes, done.
The only difference between Sarah and Mark? Mark spent 10 minutes completing a few text boxes. Once. Six months ago.
What you’re missing
When you skip Custom Instructions, ChatGPT treats every conversation like you’re a complete stranger. It has no idea:
- Who you are or who you serve.
- What you specialize in.
- How you communicate.
- What matters to your practice.
So, every time you ask for help, you’re starting from scratch. You’re re-explaining your role, re-describing your clients, and re-stating your communication preferences, if you understand how to include that in your prompts.
It’s like hiring an assistant who walks in every morning with complete amnesia about everything you told them yesterday.
In the next 10 minutes, you’re going to fix this. You’ll teach ChatGPT who you are and how you want it to communicate. Everything below is copy-paste-ready text blocks. You customize several spots, then you’re done.
The fields that change everything
First, you need to access Custom Instructions: On your desktop, click your profile icon (bottom left) Personal account > Personalization > Custom instructions.
Copy block 1: Tell it who you are
Custom instructions let you specify what you’d like ChatGPT to keep in mind when responding. Once set, they’re instantly applied across all your chats. This is your context. Who you are, who you serve, what you do. Think of this as your 60-second elevator pitch about your practice.
Copy block 2: Tell it how to respond
Still in Custom instructions, describe your preferences: communication style, structure, priorities, what to avoid. Think of this as how you’d brief a new assistant on how you like things done.
Together, these two copy blocks transform ChatGPT from generic tool to customized assistant.
Copy block 1: Your background and context template
Complete this template with your specific details and paste it into the top of Custom instructions.
I’m a financial advisor with [X] years of experience managing $[X]M in AUM.
My typical clients are [age range, net worth, life stage, primary concerns].
I specialize in [retirement planning/tax optimization/business owners/etc.].
My approach emphasizes [fiduciary standard/evidence-based investing/behavioral coaching/etc.].
I’m registered with [RIA/broker-dealer/hybrid] and operate under [SEC/FINRA/state] regulation.
I use this tool for client communication, research, content creation, meeting preparation, and strategic planning.
Here are two completed examples:
Example 1: Retirement specialist
I’m a financial advisor with 15 years of experience managing $150M in AUM.
My typical clients are pre-retirees and retirees ages 55-75 with $1-5M in investable assets. They’re primarily concerned with income sustainability, healthcare costs, and legacy planning.
I specialize in retirement income planning and tax-efficient distribution strategies.
My approach emphasizes evidence-based investing, proactive tax planning, and helping clients avoid behavioral mistakes during volatility.
I’m registered with an independent RIA and operate under SEC regulation.
I use this tool for client communication, research, content creation, meeting preparation, and strategic planning.
Example 2: Business owner specialist
I’m a financial advisor with eight years of experience managing $80M in AUM.
My typical clients are business owners ages 45-65 with $2-10M in net worth navigating exit planning, business succession, and complex compensation.
I specialize in executive compensation, business transition planning, and concentrated stock strategies.
My approach emphasizes comprehensive planning that coordinates personal and business finances, with a focus on tax efficiency and risk management.
I’m registered with a hybrid RIA/broker-dealer and operate under SEC and FINRA regulation.
I use this tool for client communication, research, content creation, meeting preparation, and strategic planning.
Pick the example closest to your practice or use the blank template and fill in your details. Takes about four minutes.
Copy block 2: Your communication style preferences template
Complete this second template with your specific details and paste it into the bottom of your Custom instructions.
- Assume a financially sophisticated audience but avoid unnecessary jargon.
- When discussing investments and financial planning, always include appropriate disclaimers.
- Structure responses with clear sections and actionable takeaways.
- If I’m asking about client communication, default to a professional but warm tone.
- For technical topics, provide depth but start with the headline conclusion.
- Never fabricate data, sources, or statistics—say “I don’t know” if uncertain.
- If compliance implications exist, flag them explicitly.
- Keep responses concise unless I specifically ask for comprehensive analysis.
Those two base templates work for most advisors. But if you want to customize it further, here are optional add-ons. Pick two or three that matter to you:
For better communication style:
- Use short paragraphs (3-4 sentences max) for readability.
- Open client communications with a question or relevant observation.
- Include a concrete example or analogy when explaining complex concepts.
- End emails with a clear next step or invitation to respond.
For extra compliance awareness:
- Never suggest specific securities in client communications.
- Flag content that could be considered investment advice versus education.
- Remind me if something typically requires compliance review.
For formatting preferences:
- Use bullet points for lists, paragraphs for explanations.
- Bold key takeaways but don’t over format.
- Provide a 2-3 sentence summary at the top for longer responses.
Just add your preferred add-ons to the end of the Custom Instructions field.
The ‘About You’ fields that complete your setup
After Custom Instructions, there’s a second section to configure: “About you.” It’s just three short fields and takes less than five minutes. Here’s what goes in each.
Nickname: Your first name
What to enter: Your actual first name. It’s that simple.
Occupation: The three-part formula
This field shapes how ChatGPT understands your role and constraints. The more specific you are, the better your outputs.
The formula: [Job function] + [Who you serve] + [Practice size or structure]
Strong examples:
- Financial advisor managing $150M AUM for HNW retirees.
- Fee-only advisor serving business owners and executives in the tech sector.
- Independent RIA specializing in physician wealth management.
Weak examples (Don’t do this):
- Financial advisor.
- Wealth management professional.
Your template:
[Your role] [serving/managing/specializing in X] for [your client niche].
More about you: Four context categories
Custom Instructions answers who you are and what you specialize in. About You answers how you work and what you need. Different questions, different purposes. There’s some overlap, yes, but don’t overthink it. Fill out both and ChatGPT will use them differently and you’ll get maximum customization. Look over these four categories and answer them in the More About You field.
1. Working constraints (what limits your time/options)
- “I work under SEC/FINRA compliance requirements.”
- “I have 15-minute windows between client meetings.”
2. Output preferences (how you need information delivered)
- “I need copy-paste-ready drafts, not conceptual frameworks.”
- “Give me three options when there’s more than one approach.”
- “Skip preamble—get to the actionable part first.”
3. Expertise asymmetries (what you know deeply versus where you need translation)
- “Deep expertise in estate planning, need help with client-friendly language.”
- “Know finance deeply but need marketing concepts explained simply.”
4. Audience context (who you’re serving/communicating with)
- “My clients are 55-70, risk-averse, skeptical of complexity.”
- “I write for busy executives who skim, not read.”
A complete example:
Occupation:
Fee-only financial advisor serving business owners and executives in the tech sector.
More About You:
I operate under fiduciary standards and need compliance-friendly language. My clients value direct communication and specific action steps over theory. I’m building an AI-augmented practice and need prompts I can reuse across similar client situations. When explaining concepts, assume I know finance deeply but may need plain-language versions to share with clients. Give me 2-3 options when there are multiple valid approaches.
That’s it. This configuration now applies to every new chat you start.
The verification test
Open a new chat and run this prompt:
“Help me prepare talking points for a client meeting about required minimum distributions. The client is 72, recently retired, and nervous about market volatility affecting their income.”
What you should see:
- ChatGPT references your practice context (mentions your typical client type).
- The tone matches your preferences (warm/direct/technical, whatever you specified).
- The structure follows your instructions (headline first, bullets, sections, etc.).
- It includes disclaimers if you requested them.
If you do this, everything gets better:
- Client emails actually sound like you.
- Content reflects your specific perspective.
- Research aligns with your investment philosophy.
- Compliance awareness is built into every response.
Why 68% of advisors haven’t done this
Here’s the truth: Most advisors haven’t done this because they don’t know these settings exist. ChatGPT doesn’t exactly advertise it. There’s no setup wizard. You just have to know it’s buried in Personal account > Personalization.
Now you know.
Do this now
Stop reading. Open ChatGPT. Navigate to Custom Instructions. Copy the templates. Customize the various fields. Run a test prompt. It takes 10 minutes and that’s all. You’ll immediately join the 32% of advisors who get customized, context-aware responses every time they use ChatGPT.
And you’ll see that the competitive advantage isn’t in using AI, but in understanding how to use it well.
Ready to make the leap? Horsesmouth’s AI for Advisors Pro training programs provide the structured, advisor-specific approach that transforms occasional users into confident practitioners. Learn more at www.horsesmouth.com/aipro.