Financial advice AI platform SOFI AI has launched a new feature to help advisers and paraplanners access verified client information faster.
SOFI Chat answers questions about a client in natural language, drawing on a single meeting, on every meeting held with a particular client or across meetings to identify themes, changes and decisions over time.
The new feature, which is available to all users from the end of September, also reads documents advisers upload, including review letters, suitability reports, fact finds, provider documentation and research. This means it can compare a meeting against an uploaded document, setting out what has changed in the client’s circumstances and objectives.
Mallowstreet, the firm behind SOFI AI, said that firms using the platform report saving between three and 10 hours a week.
Stuart Breyer, CEO of mallowstreet, said: “We work with our clients to create meaningful efficiency gains by embedding SOFI AI into their workflows. As a result, this helps to lower the unit cost of servicing a client, ultimately creating an opportunity to make advice available to millions more people in the UK.
“SOFI Chat is a key extension of our enterprise platform to help support financial advisers, paraplanners, and admin support teams.”
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