Jim Stockpool
Strategic advice consultancy, Certainty Advice Group is leveraging the power of artificial intelligence to build an App that can review recordings and transcripts of client meetings to quickly identify and confirm that the key value drivers of an effective advice relationship have been covered.
Addressing over 70 advice professionals at the Certainty Advice Group Annual Conference in Sydney on Thursday, Jim Stackpool, Managing Director, said the Certainty App was in the early stages of development and formed part of a broader program of work, under the Certainty Intelligence banner.
“Advisers send us recordings and transcripts of their meetings all the time and ask us to critique 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,” he 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.”
The main input into the AI program is CAG’s Certainty Map, which captures key components of the unique value that each client seeks from their advice relationship.
Stackpool said the group had watched and listened to thousands of recorded advice meetings, and reviewed thousands of advice documents, over the past 20 years to map out and replicate a valuable, productive advice relationship, for the purposes of educating, training and upskilling teams.
He said the App would ultimately assess and score users on a number of crucial metrics including listening, controlling, probing, positioning and teamwork.
“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,” he said.
Of its many potential uses, Stackpool said the Certainty App would serve as an effective “debriefing” tool.
“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 with depending on a principal adviser.”
The Certainty App is slated for release later in the calendar year.
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