Sun Life Introduces AI-Powered Assistant to Revamp Note-Taking Methods for Financial Advisors
In an innovative stride, Sun Life Canada has developed an artificially intelligent assistant tool named Notes Assistant. This groundbreaking technology is significantly enhancing financial advisors' efficiency and the quality of client interactions.
According to Sun Life's pilot study, nearly two-thirds of advisors reported saving more than 30 minutes per meeting thanks to the AI tool that automates notes, summarizes client discussions, creates action items, and drafts follow-up emails. One advisor highlighted that the tool also completes compliance forms, reducing review time to 5-10 minutes, which further boosts productivity.
The Notes Assistant tool captures detailed personal information discussed during meetings, such as family members' names and even pets, helping advisors deliver more personalized service and deepen client relationships. The real-time transcription and automatic summarization allow advisors to focus fully on conversations, improving engagement and client experience.
More broadly, tools like Sun Life’s Notes Assistant and others in the financial services space improve advisor productivity by reducing administrative burdens, enhancing compliance adherence, and surfacing actionable insights tailored to client needs. For example, AI-driven platforms can detect shifts in client circumstances and risk tolerance by analyzing data points and prompt timely advisor outreach, thus improving proactive service.
Sun Life, with assets under management exceeding $1.5 trillion, is innovating to solve a real need by freeing up advisor time, allowing them to deepen relationships with clients. This move aligns with the company's broader digital strategy and its commitment to digital leadership.
Earning client trust has been a cornerstone of Sun Life's business for 160 years. Rowena Chan, President of Sun Life Financial Distributors Canada, emphasises this point, stating that the company believes leveraging GenAI can help make the client-advisor experience happen, and complement their personalized approach.
Chris Poole, a Certified Financial Planner with Sun Life, finds the Notes Assistant tool to be a significant process upgrade. He explains that the tool allows him to focus on important matters with clients, transforming how he spends time with them.
The unveiling of AI tools by Sun Life and other financial institutions indicates a growing trend in the industry. As these tools continue to evolve, they promise to revolutionise the financial advisory sector, offering a more efficient, personalised, and responsive service to clients.
The AI tool, Notes Assistant, developed by Sun Life Canada, not only enhances the efficiency of financial advisors by automating notes and drafting follow-up emails, but also contributes to the personalization of business interactions by capturing detailed personal information discussed during meetings. With the AI-driven platforms in the financial services space, such as Sun Life's Notes Assistant, advisors can expect improved productivity, enhanced compliance, and proactive client service through insights tailored to individual needs.
