AI and Automation Tools for Financial Advisory Firms-PowerPoint presentation

PowerPoint presentation
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The presentation by Daleele Alison, Founder & CEO, and Levbert Leger, Founder & CTO, of RooksDM at the NAPFA Fall 2023 Conference focuses on implementing AI and automation tools in financial advisory firms. They emphasize the potential for these technologies to support business growth through integrations, automations, and customizations. The founders detail their journey from digital marketing to software engineering, highlighting their shift towards tech-driven process optimization.<br /><br />A significant pain point addressed is that wealth management firms spend 30% of their time on back-office activities and less than 20% on client meetings. By leveraging AI and automation, firms can streamline repetitive tasks such as data entry, document management, and client follow-ups, which are time-consuming, error-prone, and not scalable.<br /><br />The key solutions proposed include:<br />1. **Streamlining Processes:** Automating tasks like contract creation, document collection, and filing.<br />2. **Efficiency:** Saving time and reducing errors to enable firms to handle more clients and scale businesses.<br />3. **Enhanced Client Experience:** Faster turnaround times and fewer details falling through the cracks.<br /><br />Specific tools and technologies introduced include:<br />- **Microsoft Power Platform:** Utilizing tools like Power Automate, Power BI, and Power Virtual Agents to automate tech processes.<br />- **Forms and Signatures:** Tools like JotForms, DocuSign, and Adobe Sign to handle data collection and e-signatures.<br />- **CRMs and Wealth Management Software:** Platforms like Redtail, Wealthbox, and Right Capital are recommended for better tech integration.<br /><br />The founders also offer real-world examples demonstrating the impact of these technologies:<br />1. Automating CRM data entry and email responses, saving over 83 hours.<br />2. Organizing contractor receipts through automated email to SharePoint filing.<br />3. Simplifying contract creation with automated e-signature processes.<br />4. Enhancing meeting productivity with AI-generated notes and task recommendations.<br />5. Streamlining tax season document reviews with Azure Form Recognizer.<br /><br />By adopting AI and automation, financial advisory firms can significantly improve efficiency, client handling capacity, and service quality.
Keywords
automation
financial advisory
business growth
process optimization
Microsoft Power Platform
CRMs
efficiency
client experience
document management