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Sample report · invented firm

Where AI fitsFernhollow Private Wealth

// AI assessment Wealth management

At a glance

Where to start

Meetings and follow-ups: the follow-up, drafted the same afternoon.

What it costs today

About $8,100 a month.

Book 30 minutes with Chase

Book 30 minutes with Chase: cal.com/chase-sidekick/intro

Top opportunities, in your order

Opportunity 1

The follow-up, drafted the same afternoon

You ranked meetings and follow-ups first. A same-day email that says who does what, by when, keeps things from falling through the cracks after a review.

Draws from
Your meeting note, the pre-meeting brief and the CRM.
Reviewed by
The advisor. It drafts; she sends.

Opportunity 2

KYC changes flagged from your notes

You ranked reports and admin second. When you learn of a significant change, the client's KYC needs updating within a reasonable time, then a suitability check. A flag catches the passing mention in a note or email.

ChecklistExample

KYC change flag

KYC CHANGE FLAG · For Anika · Copy to Priya (CCO)
Ron and Diane Halvorsen · Oct 8 note, Aug 14 email

Possible Significant Changes

  1. Financial circumstances, liquidity, time horizon: cabin sale next spring, proceeds held about two years. On file: "No significant liquidity needs."
  2. Cash flow: about $1,500 a month to Diane's mother's care. On file: $6,000 a month drawn. [CONFIRM: new total]
  3. Withdrawals: Ron's RRSP must mature by Dec 31, 2027; RRIF minimums start the year after a RRIF is set up. On file: none planned.

NOT CHECKED (nothing in the notes)
Risk tolerance, investment knowledge, employment, insider status.

Drafted And Waiting

  • KYC questions ready for your conversation; clients confirm any update.
  • CRM task: "KYC update signed," due Oct 16 (deadline Oct 21).
  • Reminder: suitability review after the update.
Draws from
Your meeting note, client emails, and the KYC and IPS on file.
Reviewed by
The advisor decides what's significant; the CCO sees each flag.

Opportunity 3

Client emails sorted before you open them

You ranked your inbox third. A morning list shows what needs you, what's handed off and what's waiting.

BriefExample

Morning inbox list

MORNING LIST · Oct 13 · 14 new since 5 pm

Needs You (3)

  • Marguerite Olsen: "Should we top up the TFSA before year end?" Advice question. Suggest a call.
  • Theo Barros: asks to move $40,000 to his chequing account. Money movement: confirm with him by phone.
  • Kiran and Dev Sethi: second email about the fee on their September statement. Reply today.

Handed To Client Service (8)

  • Address changes (2), statement copies (3), tax slip timing (2), portal password reset (1). Draft replies are in Jess's folder for her to check and send.

Waiting On Someone Else (3)

  • Olsen estate: lawyer's letter expected this week.
  • Barros RRIF form: sent Oct 2; still out.
  • New account for L. Chu: ID copy missing.
Draws from
Your inbox and the client list in your wealth CRM.
Reviewed by
The advisor, each morning. Client service checks and sends the routine replies; advice and money movement stay with the advisor.

Where else AI fits

  1. Finding information

    Today
    Prep means digging through notes and old emails.
    Set up once
    Your brief format and the CRM fields it reads.
    Then runs
    A brief lands the day before each review.
    You still decide
    What to raise, and every recommendation.

  2. Invoicing and payments

    Today
    Fees and expenses checked by hand.
    Set up once
    Your fee schedule and accounting exports.
    Then runs
    A monthly list of fee mismatches and missing receipts.
    You still decide
    Any fee change or write-off.

What this time costs today

You told us 5 to 10 hours a week on meetings and follow-ups; we used 7.5. That's time spent today, not a promised saving.

  1. 7.5 hours × $250your numbers
  2. $1,875a week
  3. $8,100a month
  4. $98,000a year

7.5 hours × $250 = $1,875 a week ≈ $8,100 a month ≈ $98,000 a year

We measure hours on meeting prep and follow-up, and days until the follow-up goes out, before and after.

Your data and AI

You hold clients' financial and account information and personal information about your clients. You're not early. Others who hold this kind of information handle it in layers: limit what AI can reach, limit what it can do, write the rules down, and have a person read everything that leaves.

In this order

  1. Step 1Status: Done

    Accounts first

    Everyone uses two-step sign-in, you told us. Worth a quick check with IT. Keep it on for every account AI connects to.

    Everyone uses two-step sign-in, you told us. Worth a quick check with IT. Keep it on for every account AI connects to, keep passwords in a password manager, and keep reminding people what phishing looks like.

  2. Step 2

    Know what's sensitive and where it lives

    List what's restricted, then keep it out of reach.

    List what's restricted, in plain words, and where each item lives. You told us you hold clients' financial and account information and personal information about your clients. Many AI connections can reach everything your login can open, so decide one system at a time rather than file by file. Keep restricted files out of what AI can reach, or behind a separate account, and confirm it with a quick test. IT can check who can open what before anything is connected.

  3. Step 3

    Then choose the tool

    If you work under a dealer, its compliance team decides which tools you can use, so ask them first. If it's your call: you run Microsoft 365, so Copilot is the natural place to start. Check it against your agreements first; if one bans outside processing, a private model is the option. A ChatGPT or Claude business plan is the alternative.

    Choose the tool last, after accounts and your restricted list. What decides it: your agreements with clients, any rule on where data is stored, the systems you already run, and what your people will actually use. Once nothing rules a tool out, a decent tool that gets used every day beats a perfect tool that never gets picked up. Mandate one people dislike and they drift back to personal accounts with no oversight.

Your tool options

If you work under a dealer, its compliance team decides which tools you can use, so ask them first. If it's your call: you run Microsoft 365, so Copilot is the natural place to start. Check it against your agreements first; if one bans outside processing, a private model is the option. A ChatGPT or Claude business plan is the alternative.

  • Copilot in Microsoft 365. Works inside the sign-in and permissions IT already manages; Microsoft says it only shows people what they can already open.
  • A ChatGPT or Claude business plan. OpenAI and Anthropic each say they don't train on business data by default. Both connect to Outlook and SharePoint with admin approval.
  • A private model on your own hardware. Open models can run on an office computer, so data can stay in the building. But they're usually less capable, someone must patch and secure the machine, and connecting email, calendar and other systems is slow work. Rarely the right first step; the right one when an agreement or rule bans outside processing outright.
  • Three questions for your dealer or CCO. Is this tool on the approved list, and on which plan? How are AI-drafted client emails kept and supervised? Where is the data stored and processed?

Settings to ask for

  • Training off, in a business workspace the practice owns. Use a business workspace so the practice owns the accounts and data, training is off by default, and you control which apps people connect and can remove access the day someone leaves.
  • Connections need approval. In Microsoft 365, IT can require admin approval before anyone connects an AI app to email or files. That way every connection is a decision someone made.
  • Web search off for sensitive work. Turn off Copilot web search for the people who handle work for clients. It's one admin policy, set per user or group, and people can't turn it back on.

Canada's securities regulators, including the BC Securities Commission, said in CSA Staff Notice 11-348 (December 2024) that firms are responsible for the outputs of the AI systems they use, and should have AI policies that can include a person checking inputs or outputs. CIRO said in its 2026 compliance report that it will ask dealers how they use AI. The IT checklist is a useful thing to bring them.

What stays with you

  • Suitability and portfolio decisions. AI flags; you decide, and you stay responsible for how you use it.
  • The KYC conversation. AI prepares it; you have the conversation with the client.

What could go wrong, and how to prevent it

  1. Information your clients trust you with

    How it's prevented
    Put written rules in the AI's settings from day one, and widen what it can reach one system at a time as it earns trust.
    Do this week
    Ask IT two questions: who can open what in your shared files, and whether anyone uses a personal AI account for work.

  2. Wrong answers going to clients

    How it's prevented
    The responsible person stays accountable, so check citations, figures and sources: a public tracker lists over 2,000 court decisions worldwide involving AI-invented content.
    Do this week
    At your next team or partners' meeting, agree: nothing AI-drafted leaves until the responsible person has read all of it.

  3. Work for clients in personal AI accounts

    How it's prevented
    Move work for clients out of personal accounts first, before you connect anything new.
    Do this week
    Send a note: no information about clients in personal AI accounts until the business plan is set up.

Rules here were checked against their sources in October 2026. Your CCO confirms how they apply to your practice.

Your first project

Use a business AI plan, never a personal account, and take names out before you paste anything in.

Starting instruction

From my client review notes below, draft: 1. A follow-up email: what we discussed, next steps, what we need from them. Nothing that isn't in my notes; write [CONFIRM] instead. 2. Anything that could change their KYC, quoting my line. [paste your notes here]

How to check it before you trust it

Run it with web search off. Compare it with what you'd have written for three reviews before relying on it.

How Chase would help

  • Solo for Execs

    AI leadership in 30 days: AI set up around your own work, plus what you need to lead it in your practice and answer the questions your team and clients ask.

    CAD 2,900 once

  • Solo

    Your AI set up around your week, plus coaching until it's part of your day. Ready within 48 hours of getting your setup details (templates and examples, not client records).

    CAD 1,800 once

Who sets it up
Chase works with your IT provider directly, or gives them a checklist, your choice. Your IT provider turns it on.
Paying for it
It can be paid from a training or expense budget.

Chase signs your confidentiality agreement and never logs in to your systems or asks for client files. He doesn't give investment or compliance advice.

30 minutes with Chase to walk through your report and decide where to start.

You ranked meetings and follow-ups first and worry about client data. We'd start there.

Book 30 minutes with Chase

Book 30 minutes with Chase: cal.com/chase-sidekick/intro