Fintech Plannerpal has launched a new AI tool which standardises meeting preparation by compiling key information ahead of reviews.
Plannerpal claims the new tool addresses a gap in the AI market which is dominated by post-meeting productivity tools, with its initial trials with existing clients finding the tool can save Financial Planners hours.
The Pre-Meeting Prep Pack generated a firm-defined, customised client pack, which brings together portfolio valuations, tax and allowance summaries, progress against goals, key actions since the previous meeting, recent client activity and communications, compliance status and a personalised meeting agenda.
It assembles each pack from multiple data sources including CRM records, meeting notes, uploaded documents and valuation statements.
The fintech added that the tool will be particularly useful to reassure compliance teams at larger firms looking to standardise servicing across teams and support a consistent level of delivery in light of the FCA’s Consumer Duty requirements.
Mark Whitcroft, CEO of Plannerpal, said: “We’ve built the Pre-Meeting Prep Pack to help firms standardise how they prepare for client meetings, allowing advisers to reduce admin time and arrive at meetings better prepared. It’s also an important step towards our wider ambition to build best-in-class technology ecosystems for financial advisers, with proper integration and connectivity between the tools firms rely on.”
Future extensions to the AI tool include an integration with calendar and email.
Plannerpal uses AI technology to generate meeting transcripts, actionable summaries and written follow-ups.
The fintech manages over £150bn in client assets and claims to cut admin time by up to 80%.