Jump - Advisor AI

🚀 New in Jump: September Product Updates Advisors generate incredible insights every time they meet with clients – but too often that knowledge stays buried in notes. That’s why we built the new Insights Dashboard: 👉 Spot asset class trends across your book 👉 See how advisors are spending time 👉 Uncover opportunities for new asset capture All powered by AI, using the data you already have. And that’s just one highlight from this month’s release, which also featured our biggest-ever mobile app update, new workflow configurations, and more tools to keep your firm consistent and compliant. 🔗 https://lnkd.in/gNzhRUEB

This Barron's interview of Jelena Zec with Citi Ventures is full of insights on what the future of wealth management may look like. “I’m going to paraphrase Jump's founder, and say that gen AI is helping us humans to build Iron Man’s superpowers and shield. But at the core of that is still a human. And human advice and human interaction are what I would say financial advisory is all about.” Link to the full article in the comments.

This article from AdvisorEngine gives a great breakdown of how innovative advisors are using AI today, including: - portfolio and risk analysis - scenario modeling - automated documentation - client communication (and more) There's also a great POV on Jump: “‘We’ve been using Jump AI for the last six months, and it’s been amazing to see how it streamlines note-taking, task assignment and preparedness for client meetings, whether it’s a full financial planning session or a quick virtual call,’ says Marc Shaffer, a certified financial planner at Searcy Financial headquartered in Overland, Kansas.” Link in the comments.

Did you know that Jump now integrates with SmartOffice from Zinnia? Learn everything you need to know about how this new integration will help you work smarter and faster in our upcoming webinar with SmartOffice. 📅 Join us this Thursday, September 25th at 2 pm ET to see how advisors can cut meeting admin by 90% while keeping SmartOffice in sync. 👉 Register here: https://lnkd.in/gnhUf49A

What makes an entrepreneur? There's no single answer, but in this piece from Pulse 2.0 we get some insight into Parker Ence's journey. Learn the origin story of Jump and how the product has evolved (considerably!) from its initial concept. Link in the comments.

I was shocked what our Insights team found in Jump’s data this week. Weekly performance has a huge impact on how many clients report fear of market uncertainty. That’s not the shocking part. The shocking part is this: you’d expect fear to be perfectly inversely correlated with market performance. Bigger losses → more fear. Bigger gains → less fear. But that’s not what happens. 🟢 What the data tells us🟢 ▪️ In weeks with large losses (down >3%), 26.6% of clients report market uncertainty. ▪️ In weeks with large gains (>+3%), nearly as many clients (≈ 24.0%) feel that same uncertainty. ▪️ In contrast, during flat or moderately moving weeks, the proportion of clients expressing fear about market uncertainty is much much lower. ❓ Why might this be happening? ❓ According to many market observers (e.g. research cited by Morningstar, Ritholtz Wealth Management), the best days in the market often follow the worst days, and vice versa. Big drops and big gains tend to cluster. That means even after strong up-weeks, investors may still be haunted by recent losses, or worried that gains are fleeting. ✨ So what? ✨ Advisors shouldn’t assume market fear only comes up on the bad days. Clients are just as likely to be uneasy in the best weeks. The key: help clients understand that volatility, whether positive or negative, fuels emotional responses. Sometimes the fear isn’t about “bad news” at all, but the worry that things are too good to last. Reinforcing a long-term perspective is critical, because gains and losses tend to cluster, and staying engaged almost always beats trying to time the market.

The traditional referral model may be losing steam for financial advisors, according to this piece in Financial Advisor Transitions. But new AI tools like Jump that have been specifically built for advisors can help.  "According to PwC's Asset and Wealth Management Survey, 80 percent of firms expect AI to drive revenue growth, while 61 percent report that AI is already transforming marketing and client communication by enabling more personalized outreach. Critically, AI-driven systems scale without requiring proportional increases in time or resources, solving one of the core limitations of traditional prospecting." Read the full article: https://lnkd.in/g89HkQYb

Is AI replacing advisors? Nope. It's supporting them (and their clients). This article from Barron's explores this issue further. From the piece: For now, most brokerage firms employ AI primarily for support tasks like taking notes at client meetings. But we aren’t too far off from a “hybrid” future where AI agents work alongside advisors, says Parker Ence, CEO and cofounder of Jump, an AI assistant for advisors. The goal, he adds, is delivering an AI experience that’s safe and compliant. Link to the full article in the comments.

I was recently interviewed by Tobias Salinger at Financial Planning on the rising importance of tax planning in wealth management. At Jump, our analysis shows that tax planning is a nuanced subject. Clients want to talk about it, but they rarely start the conversation themselves. A few patterns from our data: ▪️ The proportion of clients with tax related fears spiked to an annual high of 34% in June, following the announcment of the OBBB ▪️ Clients initiate tax planning discussions only 18% of the time ▪️ 73.8% of prospecting calls include a tax planning discussion ▪️ 71.6% of clients who engage on tax planning ask at least one question (the highest rate across topics) ▪️ The top tax fear is the “unpredictability of tax burden,” followed by the "passing assets on tax efficiently" Big thanks to Tobias for the conversation, it was a fun one.