Chris, Senior Business development Manager at Advisoryai shares four questions he recommends Advisers ask all AI tech vendors and what answers you should look out for!
He also shares an approach that has helped him build lasting client relationships across changing market conditions. Chris works alongside financial advisers every day and gives his view on the Adviser-tech relationship and how to make it a match made in heaven (if matched well)!
What led you to become a financial adviser?
I became a financial adviser because I wanted to make a meaningful difference in people's lives. Growing up, I watched friends and family struggle with financial decisions without proper guidance. That experience showed me how impactful good financial advice can be. I was drawn to the combination of analytical problem-solving and building relationships with clients, helping them navigate important life decisions.
What changes have you seen in the industry?
The financial advice industry has transformed dramatically. When I started, it was primarily transaction-based and product-focused. Now, we've evolved toward holistic planning and value-based relationships. Technology has revolutionised everything from client communication to document creation. Regulatory changes have increased transparency and professionalism, though compliance requirements have grown substantially. Client expectations have also evolved—they're more informed, digitally savvy, and expect personalized service delivered conveniently
What would your clients have said about you?
My clients would say I was there for them through every stage of their financial journey—from buying their first home to planning for retirement and beyond. They appreciated that I took time to understand their unique situations and built genuine relationships. This approach led to strong client retention and numerous referrals. Clients often mentioned that they trusted me because I explained complex financial concepts clearly and always prioritised their best interests over selling products
What were the key challenges you faced?
The biggest challenges were balancing time demands and managing administrative burdens. Compliance requirements created mountains of paperwork that took time away from client interactions. Staying updated on constantly changing regulations and products was difficult. I also faced the risk of burnout from trying to serve too many clients while maintaining quality advice and work-life balance.
Can you quantify this imbalance?
Before implementing technology solutions, I spent about 70% of my time on administration and only 30% with clients. The administrative tasks included compliance documentation, client research, report writing, and product paperwork. This imbalance was frustrating because I knew the client-facing time was where I provided the most value. So many Advisers and Paparplanners I speak to every day are still facing the same challenges - there is simply no need to operate this way anymore!
Why did you join AdvisoryAI?
I joined AdvisoryAI because I saw how their technology could transform the adviser-client relationship. Their solutions addressed my biggest pain points by automating administrative tasks and helping me deliver more consistent, compliant advice. I was excited about the potential to spend more time with clients while actually improving the quality of advice through data-driven insights.
Do you think Advisers trust AI?
Initially, many advisers were skeptical about AI. However, attitudes are changing as they see practical applications that enhance rather than replace their expertise. I think of AI like training your best employee—it becomes incredibly knowledgeable with the right training, handling routine tasks while freeing you to focus on the human aspects of advice. Trust grows when advisers see AI as an amplifier of their capabilities rather than a replacement.
Why is this evolution in AI tech for advisers important?
This evolution is crucial because it's rapidly becoming a competitive advantage that will soon be business as usual. Advisers who adopt AI technology now can serve more clients with better quality advice, creating capacity for growth. It allows us to spend more time on high-value activities like building relationships and strategic planning. Ultimately, it enables us to provide added-value services that distinguish us in a crowded marketplace.
What questions would you have asked AdvisoryAI as a potential customer? And how would you answer them?
Q1: How will this technology improve my client relationships, not just my efficiency?
A: AdvisoryAI's solutions give you more time to focus on what matters—understanding your clients' needs and building trust. The insights provided help you anticipate client needs before they arise.
Q2: How steep is the learning curve, and what support is available?
A: The system is designed to be intuitive, with comprehensive training and ongoing support. Most advisers see productivity improvements within weeks, not months.
Q3: How does this help with compliance?
A: The compliance checker automatically reviews your advice against current regulations, reducing risk and saving time on compliance reviews.
Q4: What's the return on investment?
A: Advisers typically see a 30% reduction in administrative time within three months, allowing them to serve more clients or deliver more comprehensive service.
What feedback have you heard from Advisers you have worked with in the last year?
The feedback has been overwhelmingly positive. Advisers particularly praise the compliance checker, which has reduced their anxiety about regulatory requirements. Several advisers have reported being able to take on 20-30% more clients while actually improving service quality. The most common comment I hear is, "I wish I had implemented this years ago."
