Certainty Advice Group (CAG) is working on an app that will use AI to review recordings and transcripts of client meetings to help confirm key issues have been covered.
Addressing more than 70 advice professionals at the firm’s annual conference in Sydney, last week, MD Jim Stackpool, said the Certainty App is a work in progress and will be released this year.
“Advisers send us recordings and transcripts of their meetings all the time and ask us to critique the effectiveness of their advice processes, so we decided to automate that process and put Certainty Intelligence over the top to provide deeper insights in a timelier manner,” he said.
“This technology will speed up the process and, ultimately, help skill up-and-coming advisers quicker to improve their impact. It will also reduce dependency on senior advisers and enhance the overall client experience.”
The main input into the AI program is CAG’s Certainty Map, which captures key components of adviser-client meetings.
Stackpool said the group had watched and listened to thousands of recorded advice meetings, and reviewed thousands of advice documents, over the past 20 years to map out and replicate a valuable, productive advice relationship, for the purposes of educating, training and upskilling teams.
When you know what to look for, it’s easy to identify an ideal client…
He said the app would ultimately assess and score users on a number of crucial metrics including listening, controlling, probing, positioning, and teamwork.
“When you know what to look for, it’s easy to identify an ideal client,” he said. “Not only can you identify immediately the people who will take advice and pay your fee, you can see what clients value.”
Stackpool said the Certainty App would also serve as an effective “debriefing” tool.
“This tool can be used to provide feedback on what went well in meetings and any areas for improvement so firms can engage more consistently and add greater value,” he said.
