While AI-powered voice transcription is now commonplace across the advice landscape, combining it with automated document production remains relatively new territory. However, Sydney-based Marloo, which launched its AI assistant for financial advisers in April last year, is investing heavily in this area.
Marloo allows advisers to upload their own templates, including SOAs, review letters, and standard client communications. Advisers record client consultations – either in person using an app or during virtual meetings – and instruct the system to do the heavy lifting. The output is a complete advice document, including personalised drafting, complex calculations, and firm branding.
“It’s completely flexible and malleable to work directly within an adviser’s practice,” says Marloo’s Growth Lead Kailee Maloney.
“Advisers can create a template that underlies their summaries… exactly reflecting the different subjects they need it to, and what the tone of that is.
“It syncs with your calendar. So every time you have a virtual meeting, Marloo pops up in the waiting room and will record the meeting. When you go back into your Marloo dashboard, the transcript is there ready for you to generate your custom filenotes in one-click.
…Advisers always have the final say…
“If you were producing an SOA then you would use your own template. It would have the retained structure, standard text, and then the advisers’ instructions about what the individualised recommendations are.”
Maloney stresses the adviser remains accountable for any material sent to clients.
“Marloo is a tool,” she says. “Advisers always have the final say and the final review of any document.”
Part of Marloo’s compliance proposition rests on traceability. Each document draft is linked to a recorded meeting and transcript, which Maloney describes as “the source of truth”.
The greater the input, the greater the output…
A feature known as Ask Marloo allows users to interrogate a draft SOA and locate the underlying source material behind particular sections (e.g. product research, modelling, previous meetings). Advisers can query where a reference originated and retrieve the relevant transcript or uploaded document.
“The greater the input, the greater the output,” says Maloney, likening the process to briefing a junior paraplanner, “…be really clear, really direct, leave very little room for interpretation”.
Ashley Pickett of Everest Wealth, said in a case study shared by Maloney with Riskinfo that the largest value of Marloo “…is in being able to generate an SOA within a couple hours of the client meeting”.
Maloney says the next steps for Marloo include email integration, and tasks & reminders.
Editor’s note: Marloo will be one of the three AI firms demonstrating its offer at Riskinfocus 26 events next month.
