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Your profile: 41 years old, married, 2 teenage children aged 12 and 15. Medium, long-term and intergenerational
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Your monthly savings capacity: Quite high and decreasing over time
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Your current assets: Complex with SELARL, SCI, private professional investments. 1 million reached with a lot of real estate.
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Your goals: Early retirement, early donation, creation of large high-performing assets that continue beyond!
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Your risk tolerance: No worries
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Your main question:
- I wanted to open a global debate on the value of AI as an assistant for my wealth management. I met with 4 CGPIs last year, then 1 new one this year. I had prepared this meeting with Gemini quite intensively, and it had presented great benefits for this meeting. Then I was able to provide it with the report from this meeting, and it concluded or we concluded that this wealth manager was not the right one for me. It helped me choose another one based on my specific needs. We were able to work extensively on proposals that I then combine with my notary and accountant. It doesn’t make mistakes whereas the wealth managers tell me it’s not feasible, and then the notary validates the operation. I’ll spare you all the details because it’s technical with OBO, creation of a holding company with precise timing, bare ownership donation, mortgage loan, repayment of partner’s current account, Luxembourg life insurance…
- We optimized everything in 15 days: meeting with insurance broker, contact with notary for OBO, repayment of consumer credit for my van. Prioritization of next steps. Simplification of my PEA to facilitate its future pledging to go further and increase the LTV. Simple things that I knew deep down but that a human never took the time, never knew how to find the words. Each time the wealth managers make it clear that their time is limited… When the case is complex, never time to deal with it as a whole.
- I can no longer tell if I did everything on my own deep down, and if my AI is my subconscious or if it has become my true right hand… I had never really used it before. No need in my profession.
- In summary, choosing a wealth manager necessary in my case starting in April for complex and optimized matters. But never for things I can do without. And you, your opinions, not really to talk about my case, unless you want to, but rather about the power of this new way to optimize
It’s great, undeniable, even for technical stuff, like a wben declaration without AI you’d spend 3 days on it, today 10 minutes. Same for administrative information.
However, since it’s designed to satisfy you, if you don’t know the subtleties of a field or if you guide it too much, there can be biases. I often throw a screenshot at it and ask it to find the flaws in my allocation.
You shouldn’t help it actually, because if you present 4 assets at 25% it will tell you it’s good. You also need to ask multiple AIs and humans like with any information. But it’s clear that for advice it’s straight to AI now because anyway those who give paid advice as you said either do sh*t work, or they don’t even respond.
The last time I used it was to understand electronic invoicing 
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So now I’m lost, the AI presents you with something—how can you, who knows nothing about it, say whether or not it’s a good thing? Sure, financial advisors are big bad wolves and AI is great, but when the tax authorities discover that your setup is shaky and you’re going to get hit with an 80% penalty and late payment interest because the AI doesn’t know French law and on September 24th tells me that PS on a PEA is 17.2%, it scares me to entrust a portfolio as complex as yours to it
It’s true that it’s very useful. But it can’t be said enough. Check, always check…
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I know much more than you think. That’s why I can challenge him. I have nothing against wealth managers since I’m going to see one next year.
As for the legal side, I’m not sure it’s the wealth manager who does the paperwork. It’s my notary, who is currently reflecting on a point in the proposal from Gemini that I find very ingenious. The wealth manager dismissed it out of hand without presenting me with an alternative solution, and after the meeting I contact my notary who tells me yes it’s possible but I need to study your documents first…I tell myself that he served me well as a safeguard on this one.
For me, he helped clarify what I knew without daring to admit it to myself. And he helped me choose the firm suited to my situation. He may be wrong but when you have 5 offers, you have to rely on something to decide