AI note-taking tools can transform financial advisors’ productivity and engagement in client meetings, and this is likely only the beginning of its possibilities. These tools are becoming more comprehensive and mainstream.
How AI note-taking tools are used
Financial advisors can use AI note-taking tools to record client meetings, attach the notes in their CRM, create post-meeting tasks for the team, draft a post-meeting recap email to the client and write an agenda for the next meeting with the client.
What took four-year MDRT member Andy Makal an hour now takes minutes by using PLAUD NOTE. Through PLAUD, Makal, a Court of the Table member, records client meetings. The AI software then creates a PDF that goes into his CRM. He’s also created a meeting summary template in ChatGPT, which is used to generate to-do lists for both him and the client.
PLAUD NOTE is an AI voice recorder that through an app connects to his phone. PLAUD, which supports more than 100 languages, also can be snapped to a cell phone with a MagSafe case to record phone calls. When recording confidential meetings, though, it’s crucial to ensure that the company doesn’t use the information to train its AI models.
Other available AI note-taking tools
There are several different AI note-taking solutions to consider, such as Fathom and Fireflies, which are general AI note-taking tools that can transcribe and summarize Zoom, Google Meet and Teams meetings.
Jump, Filenote.ai and Zocks are specifically for financial advisors, offering better integration with the specific tech stack financial advisors may be using, as well as providing more data security and compliance controls. Filenote.ai also includes features such as sending request forms to paraplanners and creating client mind maps.
What to be aware of
Eight-year MDRT member Elke Rubach, LL.M., CLU, records meetings using Otter.ai. Rubach, a Court of the Table member, cautions, though, “You must ask for the client’s permission to do this. It’s also important when you start recording that you give the dates and names of people in the meeting,” she said.
Furthermore, while the AI note-taking tools can save time and improve accuracy, how well they integrate into your specific office technology and CRM as well as data privacy should always be considered. There are also generally monthly fees for AI note-taking tools that offer more advanced functions, such as integrating with CRMs.
It’s critical to always check for accuracy, as mistakes can happen with AI. Financial advisors are responsible for that they send to clients. So, especially with meeting summaries emailed to clients, review and personalize them to remove errors and ensure it sounds like you and not a bot. Clients appreciate a personal touch and knowing their financial advisor cares about them and what they send to them. It’s the ability to care about clients that AI and technology can’t replace.
For more ideas about how financial advisors can use AI
- Read “Artificial intelligence: Friend or foe?”
- Listen to “AI: Turning uncertainty into excitement for a technological new world” (MDRT member-exclusive content)
- Watch “Elevating life insurance: Personalized client connections with AI-powered CRM” (MDRT member-exclusive content)
- Read “Get a boost” for more tech tools
