Compound Planning, a pioneering digital family office committed to transforming the landscape of wealth management, announced the launch of Activity Monitor. This innovative tool serves as the centerpiece of the company’s cutting-edge AI-powered operating system designed specifically for financial advisors.
Activity Monitor is available exclusively to Compound advisors and provides a comprehensive AI-driven analysis of an advisor’s entire book of business. It functions as a real-time command center, equipping advisors with actionable insights, centralized data, and automated workflows that enhance efficiency and client service.
The primary objective of Activity Monitor is to empower proactive advisors in a sector that has historically leaned towards reactivity. By harnessing the power of artificial intelligence, Activity Monitor enables advisors to offer proactive, holistic wealth management services that cater to the evolving needs of today’s high-net-worth clients. The features of Activity Monitor are specifically designed to enhance the advisory experience:
- Activity Monitor employs advanced AI technology to transcribe and record client meetings, whether they occur via Zoom or traditional phone calls. This feature ensures accurate documentation of discussions and facilitates better follow-up on client needs.
-
The tool automatically maintains advisors’ to-do lists by analyzing meeting notes and tracking deliverables. This helps advisors manage client expectations more effectively, ensuring that they meet deadlines and deliver on promises.
-
Activity Monitor continuously monitors significant movements within clients’ financial profiles. It alerts advisors to significant changes such as performance fluctuations, substantial cash transactions, life events (like marriage or inheritance), and other critical updates that require immediate attention.
With the launch of Activity Monitor, Compound further emphasizes its commitment to developing modern technology that supports the next generation of advisors and their clients. The firm has achieved notable milestones, having registered over 10,000 users on its proprietary Compound Dashboard. Additionally, in February, it integrated multi-tiered full-service tax solutions into the Dashboard, reinforcing its comprehensive approach to wealth management. By August, Compound Planning celebrated a significant achievement, surpassing $4 billion in assets under management (AUM).
Since its founding, Compound Planning has focused on creating a platform that simplifies modern wealth management. The goal is to allow advisors to efficiently manage their clients’ entire financial lives within a single, user-friendly experience. For experienced financial advisors seeking a new registered investment advisor (RIA), further information about Compound Planning’s AI-powered operating system is available at compoundplanning.com/advisorHQ. Here, advisors can explore how Activity Monitor and other features can enhance their practice and client relationships.
KEY QUOTES:
“Activity Monitor is the result of direct feedback from our team of over 50 experienced advisors. In our industry, technology is only valuable if it unlocks productivity and augments an advisor’s expertise. Activity Monitor is the AI-powered engine that makes this a reality for our advisors. We continue to invest in making our platform the single place for Compound advisors to manage every aspect of their clients’ financial lives. What we’re building is designed so they can pour all of their focus into building and growing their client relationships by delivering proactive advice at scale.”
Alex Farman-Farmaian, co-founder and co-CEO of Compound Planning
“Activity Monitor is the linchpin of our platform. It allows our advisors to stay on top of client opportunities in a way that wouldn’t be possible otherwise. We’re monitoring tens of thousands of data points and surfacing insights to advisors right when they need them, so they can deliver truly proactive advice. Activity Monitor has already become an invaluable tool our advisors use to start and end their day, keeping them two steps ahead of client expectations — and saving them what Compound estimates to be up to five hours each week.”
Nelson Arnous, Head of Product
“As an advisor, one of my most valuable assets is time. Activity Monitor has given me more time, and allows me to be more productive and serve my clients better. Proactivity has always been a staple of my approach, but I’ve been able to elevate that to new levels with the help of AdvisorHQ and Activity Monitor.”
Tara Shulman, Principal Wealth Advisor at Compound Planning
