Kyle Marshall
Boutique licensee AMAFA has introduced MainstayAI, an AI-enabled advice review tool, designed to help its advisers quickly review their documentation and identify potential gaps.
Advisers can upload key documents, including fact finds, file notes and Statements of Advice, and receive a rapid preliminary review highlighting areas that may require further attention. AMAFA believes MainstayAI is among the first such tools developed by an Australian financial advice licensee.
AMAFA Head of Systems & Governance Kyle Marshall said MainstayAI can help advisers improve both the efficiency and consistency of advice preparation.
“Advisers spend significant time preparing thorough and well-structured documentation for clients,” Mr Marshall said. “MainstayAI helps them identify potential gaps in their files before advice is finalised, providing feedback within minutes. This allows advisers to quickly sense-check their documentation and strengthen it if necessary.”
The introduction of MainstayAI forms part of AMAFA’s broader strategy to invest in technology that improves adviser productivity while maintaining strong professional standards and governance frameworks.
As part of this strategy, AMAFA has also relaunched an enhanced version of its DiscoveryDocs platform, a digital fact find and client engagement tool used across the AMAFA adviser network.
“We originally developed DiscoveryDocs to streamline client onboarding and improve the quality of client data captured during the advice process,” Mr Marshall said. “It has now been upgraded with a more adviser and client-friendly interface and improved functionality.”
The platform enables advisers to securely send web-based fact find forms to clients, monitor completion progress in real time and capture structured client data that integrates directly into AMAFA’s CRM and Statement of Advice document builder.
“By eliminating duplicate data entry and improving the accuracy of client information captured at the outset of the advice process, the platform helps advisers reduce administrative workload while improving documentation quality and consistency,” Mr Marshall said.
Together, the upgraded DiscoveryDocs platform and MainstayAI reflect AMAFA’s focus on building modern advice infrastructure that supports advisers and improves client experience.
“Technology should remove friction from the advice process,” Mr Marshall said. “Our objective is to provide advisers with the infrastructure that allows them to spend more time helping clients and less time managing administrative processes.”