Advisely PartnerLet's talk file notes.
Xplan ExpertI love that this discussion has come back around. It's so interesting to see how far we've come in two years since the original post. Keen to hear what others are using now and how processes have changed as a result. I wonder if anyone has any stats on the time they save!
Advisely BoardInteresting question courtney.youngblutt no firm data, but here are some of our savings, by category:
new client file note and TOE - was taking around 90mins, now 15-20 mins including 2nd adviser checking.
existing client file note and sending off "to do's" to various team members, was taking around 30-45min, now 5-10min if several moving parts.
checking reports & documents and compare against the last one - quarterly reports were 5-6mins per report, now 2mins, less quarterly reports are having to be checked by the advisers due to any errors being picked up at processing, providing summaries now takes <5mins per report.
summarising documents such as estate planning, SoA, etc in preparation for meetings, or to answer client questions, perhaps 15min to 30mins per doc, now <5min per document.
helping write emails, documents etc. depending on the document, can save hours.
client service - checking all data entered into forms is correct = priceless as it ensures correct data, saves re-work and client fixing issues made, run the prompt in <2min, then check the form data using an exported form from xplan, another 2-5mins, saving on advisers checking data.
The list is pretty endless, every week we are finding another use for copilot, we write a detailed prompt and then the whole team benefits from the time savings, all this means we can spend more time with clients, bring on more clients, or have more free time, all of the above are winners.
Thanks so much for the reply Jenny. Would you be happy to share the type of prompt you would use to have AI compare the details on a form with the source data (i.e. Xplan)? I have no idea where i'd begin - I'm quite wary from a security point of view in allowing AI access to our source data (if that's what you are doing to be able to make the comparison).
- jenny.brown
Hi fenella.smith first step is to ensure you have a paid subscription to something like copilot that sits within your M365 tenant. Doing that ensures that the data does not go outside your environment into the web. When using any prompts that contain client information, they should be run within the "work" not web section.
Here is a prompt we are using to compare details are correct when preparing numerous forms for implementation of our advice, what we have done is created a merge document that pulls the data that is commonly used in forms, straight from xplan and that doc is uploaded with the prepared forms - we have called that doc an "Implementation Worksheet.docx"
Check each of these .pdf forms that have been prepared against the client details in the file "Implementation Worksheet.docx" and let me know if there are any inconsistencies and errors with the information we have populated in the various PDF forms - if there is an error, list the name of the form that contains the error so I can easily fix it
We save our prompts in the prompt gallery under team prompts so all the team can access themHope this helps
- courtney.youngblutt
That's a great use case Jenny! Thanks for sharing the prompt!
- courtney.youngblutt
Hi Jenny, thanks for sharing. Incredible how much time can be saved. If something is repeatable it can likely be automated so I am sure we will all continue to find ways to become more efficient with our time.
sarah.jacobs, I thought you might be interested in these use cases and time savings.
