The initial intake form, fact finder, or due diligence questionnaire is a common and frequently repeated task for financial professionals. Streamlining this process requires a good user interface, social tact, completeness, and precision. It can be challenging for a machine to do because high-quality advisors often skip questions that are not relevant while focusing on specific questions that are more relevant. For example, in financial planning, if a couple does not have children, there is no need to delve deeply into which college they hope their children will attend and work out the projected cost and timelines. On the other hand, a particularly complex estate plan or complex real estate holdings would likely warrant additional nuanced questions about who is involved, other trusted advisors, and potential future issues. These questions often need to consider the macroeconomic environment, any possible changes in the tax code, etc., drawing on the learned experience and wisdom of sophisticated operators.
The initial intake form, fact finder, or due diligence questionnaire is a common and frequently repeated task for financial professionals. Streamlining this process requires a good user interface, social tact, completeness, and precision. It can be challenging for a machine to do because high-quality advisors often skip questions that are not relevant while focusing on specific questions that are more relevant. For example, in financial planning, if a couple does not have children, there is no need to delve deeply into which college they hope their children will attend and work out the projected cost and timelines. On the other hand, a particularly complex estate plan or complex real estate holdings would likely warrant additional nuanced questions about who is involved, other trusted advisors, and potential future issues. These questions often need to consider the macroeconomic environment, any possible changes in the tax code, etc., drawing on the learned experience and wisdom of sophisticated operators.