At a time where many industries are focused on emerging technologies, Bath Savings Trust Company senior vice president and investment officer Sean Martin still values client conversation above all else. “I most enjoy getting to know individuals and families, in addition to our institutional clients like area nonprofits,” Martin says. “I enjoy talking with individuals, meeting people where they are in their financial journey, and seeing those relationships evolve over time.”
In general, technology is transforming and disrupting a lot of processes—in a good way. What used to be paper-intensive manual work is now something that’s able to be done with the touch of a button. AI is also increasingly used as part of the investment decision-making process. You can input and analyze a whole bunch of data very, very quickly. That’s exciting.
Are there any downsides to using AI for financial analysis?
It’s easy to punch something into ChatGPT and get a result, but AI is not well equipped in analyzing data and explaining it in different ways to people with various investment backgrounds so that everyone may better understand it. There’s a nuance to educating people about what’s happening in the world and what it means in relation to their finances.
What other aspects of working with a financial planner can AI not replicate?
So much of it boils down to trust. It’s hard to build a back-and-forth relationship with a computer. Questions come up, and sometimes they’re complex. There’s a lot to be learned in having discourse and trust in working towards someone’s future. We also often work as a team with a client, their attorney, their accountant, and family members. It’s not just about investments and investor management—it’s about taking care of people. I’m not sure how well equipped AI is with reading the room, and understanding what is happening from an emotional standpoint. I think the human element is so important in helping guide people.
With today’s technology, people frequently see news headlines that could affect their investment portfolio. What advice do you give your clients?
Every once in a while, when something tumultuous is happening in the world, we might get a phone call from someone who has a knee-jerk reaction. We talk them through trying to stay calm and understanding that we have a plan in place. There are lots of ways to participate in the stock market and have meaningful investments while keeping it relatively simple. That can be a challenge as things look increasingly complex, but we work with clients to keep things straightforward and easy to understand.
To discover what a solid financial relationship and sound investment strategy can do for you, visit bathsavings.bank/investments. 105 Front St., Bath. 207-443-6296.
DISCLAIMER: Bath Savings Trust Company is a wholly-owned subsidiary of Bath Savings Institution. Investment products are not insured by the FDIC, are not deposits or obligations of the Bank, and are not guaranteed by the Bank. Investment products are subject to investment risk, including the possible loss of principal. Past performance is not an indication of future results.