Blog
    For Financial Advisors
    AI in Finance
    January 17, 2025

    AI for Financial Advisors & RIAs

    Learn more about how to use Knapsack and AI to streamline your advisory work.

    Download Our AppStart today for free

    As a financial advisor, your time is your most valuable resource.

    The more you can focus on your clients—building trust, understanding their needs, and offering tailored advice—the more successful your practice will be.

    But let’s face it: the demands of managing the mid and back office—client onboarding, meeting prep, compliance tracking, and follow-ups—can leave little room for what truly matters.

    That’s where Knapsack comes in. By harnessing the power of AI, Knapsack automates tedious workflows, giving you back hours each week to focus on client relationships. Everything runs through our desktop app, and your data stays entirely private—stored on your computer and never on our servers.

    Getting started is simple. You’ll authenticate with your work email to connect your email, calendar, and files. But here’s the key: we never store your data. Knapsack keeps everything local, ensuring your clients’ sensitive information remains safe.

    Let’s explore how Knapsack can transform the way you work.

    How Knapsack Works: The Meeting Lifecycle

    1. Smarter Meeting Prep

    Knapsack ensures you’re fully prepared for every client interaction:

    • Meeting Preparation Briefings: Automatically generate a detailed briefing with all the context you need—client profiles, past communications, and key notes.
    • Enhanced Insights: Go beyond what traditional CRMs like Redtail or Wealthbox offer, with richer, AI-curated insights.
    2. AI Assistance During Meetings

    Knapsack becomes your trusted partner in every client meeting:

    • Private Recording and Transcription: Record meetings directly on your computer. Transcription happens securely, and no data is ever saved externally.
    • Real-Time Document Access: Relevant files and client data are surfaced automatically during the meeting—no more frantic searches.
    • On-the-Fly Follow-Up Questions: Let AI help you refine or generate clarifying questions mid-conversation.
    3. Effortless Follow-Ups

    After the meeting, Knapsack helps you tie everything together:

    • AI-Augmented Notes: Receive a full meeting summary, action items, and key decisions—all automatically generated.
    • CRM Integration: Save notes directly to your CRM or email follow-ups to clients with just a few clicks.
    • Privacy Protected: All notes and transcripts are saved in a hidden folder on your computer for security and easy access.

    Automations Built for Financial Advisors

    Knapsack isn’t just for meetings. It’s a complete AI assistant for streamlining your workflows.

    Client Onboarding
    • Send onboarding questionnaires and collect client data with ease.
    • Use AI to generate financial summaries and plans based on your templates.
    • Focus more on building relationships, not paperwork.
    Compliance Made Simple
    • Track outgoing emails and regulatory notices to ensure compliance with FINRA and SEC requirements.
    • Maintain an organized record of communications for audits or reporting.
    Prospect Management
    • Stay on top of your sales funnel with AI-driven insights.
    • Never miss a follow-up opportunity with automated reminders and tracking.

    Privacy You Can Count On

    We understand that privacy is paramount in financial services. Knapsack is designed to protect your data at every step:

    • Local Data Storage: All your data is stored and processed on your computer—not in the cloud.
    • Ephemeral Processing: When meetings are transcribed, data is processed temporarily and deleted immediately afterward.
    • Hidden Folders: Meeting notes and transcripts are saved in hidden folders, ensuring secure access.
    • Automatic Deletion: MP3 recordings are automatically deleted once the next meeting is recorded, keeping your files organized and secure.

    Below is a diagram showing how the data flow works.

    knapsack data flow for meetings
    Knapsack Data Flow

    Get Started with Knapsack

    Transform your workflow today with Knapsack’s free desktop app. Here’s how:

    1. Download the Free App: It all starts with the Knapsack desktop app—download it now to get started.
    2. Authenticate Securely: Connect your Microsoft or Google accounts to sync your email, calendar, and files—securely and privately.
    3. Let Knapsack Do the Work: From meeting prep to onboarding and compliance, Knapsack takes care of the busywork so you can focus on your clients.

    With Knapsack, you’re not just adopting a tool—you’re embracing a smarter, more efficient way to work. By automating the tasks that take up too much of your time, you can focus on delivering exceptional advice and growing your practice.

    Ready to take the next step? Download the free app today and let Knapsack start working for you. If you want to set up Knapsack for your team, contact us here.

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