LIFT-Financial Group is a chartered financial planning company that helps individuals & businesses take control of their finances and helps them plan for the future. The company specialises in providing advice on financial planning, insurance, mortgages & employee benefits, and has created a particular niche in serving individuals that play sports in the UK. When LIFT-Financial reached out to AdvisoryAI, there was need for rampant growth as there was a lot of demand for LIFT-Financial’s services. But the company had to restrict the number of clients that each adviser onboarded due to the high administrative load involved in delivering quality advice services to each individual client. That’s when AdvisoryAI stepped in to help advisers meet the increasing client demand.
The Challenge
Generating meeting notes after every meeting with a new client was a huge burden. This included both creating meeting notes post the first meeting with a new client or writing the Annual Review Report post an annual review meeting. Hence, creating proposals and building relationships with clients was always a delayed process post meetings as the advisers would put off creating meeting notes for as long as till the end of the week. This was especially the case when an adviser had to meet several clients in a day and had no time left to create the meeting notes post meetings. All this led to conversation delays with clients and low trust in advice.
How AdvisoryAI helped boost LIFT-Financial’s Meeting Reports turnaround time
AdvisoryAI solved the turnaround delays with meeting reports by providing the Meeting Notes and the Annual Review Meeting reports solutions. AdvisoryAI integrated directly with the Microsoft Teams accounts of every Financial Adviser. Post every meeting, using the automated sync, AdvisoryAI would pull the meeting recordings. Then just by a single button click of “Generate Report”, the AI would go through the recording and create a comprehensive meeting report for the advisers in just 5 minutes, at 95% accuracy! Analysing the unstructured data, and formatting it in a clear succint manner.
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The reports contain everything from the summary of discussion, investment strategy, risk profile to even a base recommendation for the client. The advisers take an additional 10 minutes to go review the meeting report, before sharing with the Paraplanning team for further processing or for creating a proposal for the client. AdvisoryAI, thus helped LIFT-Financial’s advisers scale their business without compromising on the quality of personalised service. In fact, the advise is now much more personalised now with AI.
