Generating Advice Documents
The firms getting the most value use Paradino to streamline the drafting of their advice documents with Strategy Assist.
With Strategy Assist, you can generate:
- Strategy Papers
- Advice Requests
- Records of Advice
- Statements of Advice
Using your summaries as well as both your client and practice knowledge bases, Athena, our AI agent, guides you step by step through setting up your advice document.
Let's create your first advice doc
New to Strategy Assist? Read on for a full walkthrough, or follow along with the video below.
To get started, head to Strategy Assist in the client's file and click New Strategy. Give it a name, select the type of advice document you're creating, and choose your template.
Use one of our default best-practice templates, or customise and add your own by following the Customising Templates guide. Whichever you use, Athena follows its structure strictly: it generates advice in the sections you provide, in the same order, without re-ordering or restructuring the document.
Then provide a quick brief telling Athena what you need. For example, "Draft an SoA using the latest file note and cashflow projections."
At this point you'll also be asked to select which documents and reference materials to use for the strategy. We highly recommend choosing specific documents, so Athena knows to work from exactly those. Not sure what to include? Leave it blank and Athena will find the most relevant documents itself. Click Start Strategy and it will take it from there.
As covered earlier, it's crucial that your standardised wording is uploaded to the Practice Knowledge Base. This is what makes the difference between an SoA that reads like a generic template and one that reads like your firm wrote it. Where wording isn't found, Athena drafts a fallback from the Australian financial planning guide and tells you exactly where, so nothing slips through unnoticed.
Athena gathers and extracts information about your client and their circumstances from your reference material to generate an accurate and compliant advice document. Key details such as your client's age, employment status, financial situation, and goals and objectives are all taken into account to shape the recommendations Athena suggests.
Athena then populates your selected template, filling out client and adviser details, inserting text into placeholders, selecting appropriate text, and retaining disclaimers.
Rather than generating the document in one pass, Strategy Assist takes a collaborative approach, working through each section of your advice document with you to confirm strategy, information, reference material and advice as it goes. Throughout, you can edit, add, remove, or flag gaps directly in the chat before moving on. Athena won't move to the next step until you've confirmed the current one.
Being a conversational AI agent, you can chat with and instruct Athena throughout the process. Tell it what information to include or exclude, which reference points to use, or ask it to flag any missing fields for you to review.
Once the advice document has been drafted, you can update it by asking Athena to make adjustments, or by editing directly in the document editor.
And just like that, your first advice document in Paradino is done.