CogniCor’s Advisor Copilot Drives Efficiencies, Making Users “Better Advisors”
Plancorp Wealth Management saved time using an AI-enabled platform, according to a new case study published by the St. Louis–based RIA and its solution provider CogniCor. In a recently released case study, the two companies review the firm’s application of CogniCor’s Advisor Copilot solutions, which create efficiencies in meeting preparation, follow-up and identifying client service opportunities.
According to a release shared with Digital Wealth News, Plancorp partnered with CogniCor to implement something called “an intelligence layer.” This tool integrates into existing workflows and unifies client information into meeting-ready context, insights and actionable follow-ups, according to the companies.
The study found that CogniCor helped “the firm reduce operational friction and unlock time savings across 17 efficiency metrics, enabling advisors to focus more on holistic planning, proactive guidance, and their role as true advocates for clients’ financial lives.”
In February, CogniCor and Plancorp observed the firm’s client-facing employees to better understand the impact of Advisor Copilot. The internal results suggest that the more than 60 platform users reclaimed 45-60 minutes per meeting of preparation activities, including agenda creation and scheduling and approximately 60 minutes for follow-up tasks such as meeting notes, action item creation and client email drafts.
Plancorp believes this time savings equate to between 3 and 10 hours per day, representing more than 700 hours over the 28-day case study.
“CogniCor didn’t change our advisory process,” said Chris Kerckhoff, President and CEO, Plancorp. “The intelligence layer eliminated the friction that slowed advising effectively at scale. Incorporating CogniCor’s Advisor Copilot allows us to allocate more bandwidth to client connections and reduces the risk of something slipping through the cracks. This goes well beyond note-taking or automating calendaring – it makes us better advisors.”
