How to write a Top up / Bed & ISA report in less than 8 minutes in Genovo

Nigel Ogram

We’re putting our money where our mouth is – again!

Stories continue to drop into our inbox about start-up AI tools being able to write a suitability report in less time than it takes to make a cuppa. However, we’re yet to see an AI-generated report that is capable of being handed to a client without significant editing.

We’re continuing with our challenge to see how Genovo stacks up against the AI “new kids on the block”. However, rather than make wild claims with no evidence, we’re showing you exactly how you can use Genovo to create a truly personalised, compliant and reader-friendly suitability report, to a standard that you’d be happy to send to your client.

Our methodology is fiendishly simple and completely transparent – one of the Genovo team writes a report from scratch – covering a realistic financial planning scenario – and record themselves in real-time as they do it.

For our first challenge we selected a Continued Suitability Report. We were pleasantly surprised when it only took 4 minutes and 28 seconds to create just such a report in Genovo. You can read more about how we did this and watch the video here.

Next, we upped the ante! Drawdown Review reports are a hugely important element of the ongoing service you must provide to clients in decumulation. The reports can be quite technical and often time-consuming to build. You can imagine how pleased we were when we generated a Drawdown Review report in just 8 minutes and 14 seconds! You can read the blog and watch the video here.

The two videos we’ve recorded so far have been very well received, so we thought we’d keep going. We’re rapidly closing in on ISA season, so we decided to cover another of Genovo’s report types – this time a Top-up and Bed & ISA report.

Just like the Drawdown Review report, we haven’t created an artificially narrow advice scenario, just to reduce the time it takes. In this case we are:

• Setting objectives for a husband and wife
• Re-assessing their ATR (with a change recorded)
• Moving £20,000 from an existing GIA to an ISA for one client
• Topping up an existing ISA with ‘new money’ for the other client

The video demonstrates the process a user would go through in Genovo to create a Top-up / Bed & ISA report. Once again, there’s absolutely no video editing / clipping going on – no caveats of ‘some sequences may have been shortened’ – this is exactly how it was done. We could have made the process even faster by using one of Genovo’s pre-configured advice scenarios, or a report template or even re-using a previous report as the basis for creating the new report.

If you can spare 7 minutes and 38 seconds of your time, you can view the video by clicking on the thumbnail below.

So, how does Genovo allow us to do this so quickly (and how can you do it too)?

Integrations – Genovo integrates with leading industry software – allowing client, plan and underlying investment data (hard facts) to be pulled into Genovo with a couple of clicks.

Streamlined process – Genovo’s intelligent workflows then prompt the user to fill in the gaps, by providing the highly personalised ‘how and why’ (soft facts) required of compliant suitability reports covering a variety of advice scenarios.

Compliant and accurate content– Genovo provides peace of mind that the report’s content is always consistent, contextual and compliant – a commonly cited concern with pure AI-generated reports. There’s no risk of having out-of-date content, forgetting an important paragraph, or even worse, leaving something in that shouldn’t be there!

Minimal editing – Genovo reports are designed to require almost zero editing after they’ve been generated. They may require minor presentational tweaks, but that’s it.

Check out the report that’s generated at the end of the video – it looks very professional and is ready to hand over to the client. If you’d like to take a closer look at the report, sign up for a 30 day free trial. Your account comes preloaded with a variety of example reports – including one very similar to the report created in this video.

Content libraries– Genovo provides a number of centrally managed libraries containing regularly used core content that can be added to a report with a couple of clicks. This not only saves significant time but also helps to promote consistent advice outcomes.

Customisation– Genovo works perfectly well ‘out of the box’ but also offers a high degree of customisation, enabling users to easily tailor their account to reflect their company’s brand and advice service. Genovo is unique in that pretty much all of the ‘look and feel’ (the app itself, plus the fonts, colours and format of the report) and the boilerplate content (the actual wording of the report) can be customised.

In summary, Genovo provides the perfect balance of user input and time-saving automation – allowing highly personalised, reader-friendly and compliant reports to be created in a fraction of the time it takes when using more traditional methods (like manual templates) and without the limitations of more contemporary methods (such as pure play AI-generated reports).

If you’re ready to transform your suitability report writing process and would like to learn more about how Genovo could enhance productivity at your company, then book an online demo, and let us walk you through the Genovo app. It may just be the best “human intelligence” decision you make all year!

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