The strategic advice consultancy firm, Certainty Advice Group (CAG), said the “Certainty App” – slated for release later this year – will help advisers “quickly identify and confirm that the key drivers of an effective advice relationship have been covered”.
Addressing the Certainty Advice Group annual conference attendees in Sydney on Thursday, CAG managing director Jim Stackpool said the concept of the app came about following years of advisers sending in meeting recordings and transcripts, asking for an assessment on 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,” Stackpool 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.”
While the app is still in the early stages of development, Stackpool said it will form part of a broader program of work under the Certainty Intelligence banner.
After 20 years of assessing client meetings and advice documents, Stackpool said he has been able to map out and replicate a valuable, productive advice relationship for the purpose of educating, training and upskilling teams.
“When you know what to look for, it’s easy to identify an ideal client. Not only can you identify immediately the people who will take advice and pay your fee, you can see what clients value,” Stackpool said.
As such, the main input into the AI program is CAG’s Certainty Map, a tool that captures key components of the unique value that each client seeks from their advice relationship.
Stackpool suggested that the app will provide particular benefit for professional year and junior advisers, acting as both a training and feedback tool to help them improve their meeting skills while also reducing the burden on senior advisers.
“A lot of junior staff and advisers aren’t properly debriefed by senior advisers after meetings but that is a fundamental part of training and mentoring,” he said.
“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.
“We’re developing a way of consistently, methodically and efficiently delivering valuable advice by developing young advisers and teams that can operate effectively without depending on a principal adviser.”
Spruiking indeed.. How is this different to what ChatGPT can do easily with a bit of prompting?
I have a feeling it will include the benefit of client data masking and Australia held data base..