Financial planning

Financial planners often carry out many tasks manually which can be costly and cumbersome

Technology can now help do a lot of the heavy lifting

Specialist speech and document analytics for financial planners

Financial advice is a business that relies on high degrees of trust between client and adviser. When it comes to achieving a successful outcome for both the client and the firm, that relationship can make all the difference.

Firms that offer financial advice typically do so in a number of ways. Often this depends on the complexity of the advice being given and the level of risk associated with giving such advice. In one of the most highly regulated sectors of financial services, it is critical that advice is clear, unambiguous and well document­ed. There are a wide range of channels now being used to give financial advice, from the traditional face-to-face meetings with advisers, to telephony models through to digital platforms. Often there is a mixture of the three, and staying on top of them all brings a number of challenges:

  • Harnessing the full spectrum of data from customer interactions. Many channels like face-to-face and video conversations are not recorded resulting in incomplete audit trails. Meanwhile, reviewing data is so labour intensive that firms are forced to randomly sample a small selection of cases creating blindspots.
  • Driving efficiencies and mitigating risks. Manually processing the data can leave it open to subjectivity. It also makes it difficult to review and hard to gain either a macro or service-specific understanding across the business.
  • Optimising performance, conduct and culture. Supervisors are expected to attend meetings in person, which can alter the mood in the room, rack up large travel costs and leave them unable to spend as much time with advisers as they would like. Meanwhile, advisers often receive less support than they would like and struggle to get examples of what good looks like in practice.

Recordsure is designed to tackle challenges like these at source. With a background in financial services, we use smart technology to support teams with a proven track record in financial planning teams. Our analytics and automation tools drive huge efficiencies in review processes, improve customer outcomes by providing greater clarity of what is being discussed with customers and managing risks with advanced anomaly detection systems.

Download our Financial planning breakdown to gain an in-depth understanding of the key challenges our clients face and the solutions we have developed to tackle them.

Financial planning solutions breakdown

Our comprehensive guide for financial planners seeking to harness data from customer interactions at scale

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Where we drive value

The Recordsure platform has been designed to address these areas at source to provide a holistic solution. Every business model is different, but our products are modular and versatile enabling them to be tailored to a wide variety of financial planning teams’ workflows.

The key areas we drive value for our clients include:

  • Freeing up more time that can be spent on building revenue and strengthening client relationships through efficiency gains for advisers in the write-up stage of advice
  • Understanding 100% of client interactions to mitigate the risks, compliance vulnerabilities and customer experience shortcomings which are inherent when using random sampling
  • Ranking cases by their risk profile if sampling is in practice ensuring resources are allocated strategically to the instances which need support the most
  • Highlighting examples of best practice and using these for training to improve customer outcomes, strengthen relationships and increase competitive advantage
  • Dramatically speeding up case reviews by enabling teams to jump straight to key parts of records and avoid the need to sift through unrelated content
  • Combining human teams with smart automation technology to deliver efficiencies as well as consistency in outcome
  • Lowering remediation costs and reducing regulator data requests through better organisation of records and improved precision in case review samples
  • Enabling supervisors to review more face-to-face meetings remotely dramatically reducing travel costs while increasing the number of conversations they can monitor
  • Generating new revenues by combining valuable insights unearthed by Recordsure with other IT systems and infrastructure

Financial planning solutions breakdown

Our comprehensive guide for financial planners seeking to harness data from customer interactions at scale

We will share this with you via email so please check your inbox.

We will also share related content from our newsletter if we think you will find it valuable. You can unsubscribe from this at any time. Click here to view our full Privacy Policy.

Other useful information

Below you can find more information on our Voice and Docs product families as well as logistical information on security, API connectivity and our compliance background:

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