Conquest Planning, the Canada-based next-generation planning application developed by Mark Evans, has unveiled enhancements to its artificial intelligence-based strategic advisory manager (SAM).
The new features were unveiled at BNY Mellon's Pershing X INSITE 2024 Conference in Nashville. Included among the enhancements are SAM INSIGHTS, Ask SAM and SAM Score.
Designed to allow advisors to quickly create detailed financial plans, SAM is currently being used in BNY Mellon's Pershing X multi-custodial wealth management platform. weave. Pershing X President Ainslie Simmonds said this allows advisers to create financial plans in minutes instead of hours.
“This is transformative for advisor productivity,” she said.
SAM INSIGHTS is designed to identify issues and opportunities in an estate, education or retirement plan, such as underinsurance or new strategy considerations. Plan projections can last up to 60 years. Advisors can review plans regularly and make immediate adjustments.
The command's Ask SAM feature allows users to ask questions about the plan using voice or text.
These new features also include a so-called SAM Score, which is designed to provide a “health check” on the plan.
Future improvements will include the ability to ask the app to summarize plans for customers as well.
The software developer closed C$24 million ($17.8 million) Series A round in February 2023. Conquest was founded in 2018 by Evans, its CEO who was one of the original the developers of NaviPlan application of financial planning based on cash flow.