AI-driven tools can automate performance reporting, market commentaries, and client reviews—saving time, reducing costs, and enhancing the client experience. In the following article, Collidr’s Patrick Jones explains how, by streamlining reporting, advisers can deliver high-quality, personalised insights at scale, improving efficiency and client engagement.
Every day I speak with advisers and, given the nature of Collidr’s services and products, the conversations often cover the full range of touch points important to an adviser’s business. Whilst we’re mainly known for custom MPS, I find that what we often discuss goes beyond our investment approach, venturing into areas such as marketing, client acquisition, adviser recruitment, technology and business growth.
Obviously, the investment part of what Collidr offers is important, but what I often hear, and agree with, is that the investment solution is just the engine – a tool to deliver the client’s financial plan. In fact, it’s the planning and, indeed, the service, that’s front and centre of what an adviser offers which usually leads to the highest level of client engagement.
A conversation we are having more frequently at Collidr is how advisers can improve their client reporting and communications in a way that creates more personalised, high-quality content that all clients are looking for, not just higher net worth and sophisticated ones.
Perhaps to no one’s surprise, firms are often trying to become more efficient, and there certainly is an openness by advisers to adopting new technology. Producing high-quality reporting can consume a significant amount of time and resources, often diverting focus from more critical tasks.
For advisers, customising reports for individual clients, especially with a high level of detail, is not only time-consuming but can also become prohibitively expensive, making it difficult to provide the desired level of service for even high net worth clients only, let alone doing at scale.
Fortunately, by leveraging technology and AI-driven tools, advisers can save time, reduce costs, and enhance the value they offer to ALL clients.
Potential aspects to consider
AI can create time-saving improvements in a variety of reporting areas. By integrating AI tools into these processes, advisers can automate tedious tasks, reduce human error, and provide more tailored output to clients, including:
- Performance Reporting
AI can help streamline the generation of performance reports by analysing portfolio data, benchmarking performance, and producing detailed reports automatically. This allows advisers to focus on interpreting results for clients instead of manually calculating figures or formatting reports. - Market & Portfolio Commentaries
Writing insightful, up-to-date market commentary is essential for keeping clients informed, but it can be a time-intensive process. AI can scan market data, news, and trends to generate relevant, high-quality commentary tailored to client portfolios, ensuring reports remain current and informative. - Client review packs & reports
Generating client review packs and investment reports is a key part of an advisers ongoing service, proving updates and insights into their financial plan and portfolios. AI-powered tools can automate the creation of these reports, making it easier for advisers to provide clients with timely and accurate investment information. These can now be produced in a matter of clicks. - Factsheet Production
Factsheets are often used to summarise portfolio performance and outlook. AI can help automate the design and creation of these documents, ensuring they meet the specific needs of each client. No more static 1,3, 5 year timeframes, but a factsheet curated to the client’s exact investment journey.
The Benefits to Advisers
Integrating AI into reporting and content generation processes can provide significant benefits to advisers.
- Time Efficiency: By automating routine tasks, advisers can save hours each week that would otherwise be spent on manual reporting, freeing up time to focus on client relationships and growing their business.
- Improved Accuracy: AI can help ensure that reports are error-free and consistent, which is vital in our highly regulated financial services sector.
- Enhanced Client Experience: Advisers know their clients better than any investment provider. Adopting technology allows for greater personalisation of client reports, ensuring that each report is tailored to the client’s specific needs and preferences, which can increase client satisfaction and retention.
- Cost Reduction: Automation reduces the need for manual labour, potentially lowering the costs associated with producing reports, which is especially beneficial for small or growing advisory firms.
- Scalability: AI-powered tools make it easier for advisers to scale their business without needing to hire additional staff.
AI-powered tools have the potential to revolutionise how advisers manage their content and reporting processes.
By automating key aspects such as performance reporting, market commentary, and client investment reports, advisers can save time, reduce errors, and provide more personalised services to their clients. The benefits are clear.
Ultimately, leveraging AI in reporting will not only streamline the work of financial advisers but also empower them to focus on delivering higher-value services that drive client satisfaction and business growth and this is just the start!
