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Convert Financial Planning Clients in Real-Time with Conversational AI

Potential clients have plenty of options when they shop around for a financial planner. So, when they book a prospecting call with you, you need to wow them from the start. That way, you establish instant trust and rapport – and increase your odds of signing them as paying clients before you even hang up the phone. Sound like a tall order? We’ll show you how conversational AI can help you convert prospects into clients in real-time.


How Conversational AI Helps You Convert Clients in Real-Time

Conversational AI facilitates the exchange of messages via speech or text between computers and people. Automated software listens to your question or concern and Natural Language Processing software interprets what was said. When well-designed, conversational AI can help you serve more people in less time because you get to the answer faster and answers can build upon each other. This is particularly useful as the technology can continue to build upon existing clients as you explore different areas of their lives which could not be done on a paper or verbal-only questionnaire. 

Conversational AI can also help you quickly demonstrate your expertise and value when speaking with a potential client on a prospecting call. Let’s run through a couple of scenarios.

Scenario #1: No Conversational AI System Used

Imagine you’re on the phone with a potential client named Alex, aged 35. They’re expecting their first child soon. They’d also like to buy a house in the next year and want to know if they’re on track to retire at age 65. So you ask several questions, scribble down some notes, and start running calculations in your head.

There may be a lot of awkward silence as you try to figure out where they stand. You might even tell them you need more time to crunch the numbers and invite them to another meeting, especially if you forgot to ask them some critical questions during the initial call. Even while you’re confident that you can guide them to a prosperous future, you may lose their business to another planner they’re considering in the meantime.

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Scenario #2: Robust Conversational AI System Used

Fortunately, this situation is avoidable if you have the right system in place. Let’s reimagine the same scenario after you implement a conversational AI platform:

You haven’t even met Alex, but send them a planning chat. Alex fills it in at their convenience. You then schedule an appointment to go over the plan in more detail. The power is that they only have to fill in the minimal amount of items and TIFIN Plan uses intelligence, advanced assumptions, and other sources to quickly come up with an answer to fill in gaps for you rather than fact finding and computing. And you can start adding value immediately during your very first interaction with the prospect. 

  • “To pay for your child’s college education, you’ll need to save $X per month.”
  • “Buying a home makes financial sense if you purchase a property that costs less than $X.”
  • “You’re not saving enough for retirement right now. Try to bump up your retirement plan contributions by $X per paycheck.”

Alex is floored that you were able to give them all of that insight after spending just a few minutes together. They’re so impressed that they ask how to work with you moving forward. Just like that, you now have a new, potentially long-term client in your book of business. All without having to spend hours inputting their information into a complex planning platform. 

Ready to start converting clients faster through simplified planning technology? Remember, we’re here to help. So, book a no-pressure TIFIN Plan demo today to see how our software can help you efficiently scale your practice.

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This blog is sponsored by TIFIN Grow LLC. The information and data are as of the publish date unless otherwise noted and subject to change. This material is provided for informational purposes only and should not be construed as individualized investment advice or an offer or solicitation to buy or sell securities tailored to your needs. This information covers investment and market activity, industry or sector trends, or other broad-based economic or market conditions and should not be construed as investment research or advice. Investors are urged to consult with their financial advisor before buying or selling any securities. Although certain information has been obtained from sources believed to be reliable, we do not guarantee its accuracy, completeness or fairness. Past performance is no guarantee of future results. This content may not be reproduced or distributed to any person in whole or in part without the prior written consent of TIFIN Grow LLC. As a technology company, TIFIN Grow LLC provides access to tools and will be compensated for providing such access. TIFIN Grow LLC does not provide broker-dealer, custodial or other related investment services. TIFIN Grow LLC receives compensation for all search results marked “sponsored.”