Last Updated on September 14, 2023 by John Prendergast
Leveraging Technology & AI to Amplify Client Experience – Blueleaf CEO on The Efficient Advisor Podcast
Listen to Blueleaf CEO John Prendergast’s engaging and informative interview on “The Efficient Advisor,” a popular podcast hosted by Libby Greiwe. John offers guidance for advisors who want to run a more efficient practice. Four top takeaways:
#1. The pandemic transformed how people of all demographics engage through devices. Did you know that 72% of wealth management clients 70 and older engage with online banking six times a month? That busts the myth that Grandma and Grandpa aren’t online. They expect the same ease and frequency of engagement with their advisor that they experience with other services.
#2. To achieve a high engagement rate with clients – 70% – 90% each month – advisors should plan on engaging clients 150 – 200 times per year. That may seem like a lot but much of it can be automated. Blueleaf found that advisors who achieve that level of engagement tend to have happy clients with a long-term focus.
#3. AI is a useful tool for organizing and creating outlines for correspondence and reports, but it won’t personalize in a way only you can. AI is like a smart assistant that can do wonders with a little direction. As AI applications improve, wealth management will transform for both the advisor and their clients.
#4. Blueleaf has a Book Club for management and employees, to continually further business and personal skills. Two recent picks: “Extreme Ownership,” by Jocko Willink, and “How to Tell a Story,” by Meg Bowles.
Listen to the entire podcast: The Efficient Advisor: Business Building Advice for Financial Planners.
Catch John on a previous AFO Wealth Management podcast: Become like Netflix, TikTok & Amazon w/ Advice Engagement
John also hosts The Augmented Advisor podcast.
