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BLUECHIPPRACTICE MANAGEMENT | TechnologyCreating procedures with ChatGPTMany advisors know the frustration of repeatedly explaining the same procedures to team members.Financial advisory practices rely on consistent processesfor smooth operations and regulatory compliance. Yetdocumenting these processes as Standard OperatingProcedures (SOPs) often gets pushed aside. Videorecordings provide a quick way to capture processes, buttransforming these recordings into formal SOPs has traditionallyrequired significant effort. ChatGPT now offers a solution thatsimplifies this conversion process. Here’s a guide to creating SOPsusing this approach:Recording your process effectivelyCreate a video recording that thoroughly captures your process.Choose a screen recording tool like Loom, Microsoft Teams orZoom. When recording:• Narrate each action deliberately.• Highlight decision points for various circumstances.• Point out common mistakes and how to avoid them.• Describe shortcuts to work more efficiently.• Explain how the process connects to broader workflows.Converting speech to textYou’ll need a transcript of your narration:• Most recording platforms now generate transcripts.• Review the transcript for accuracy, especially with financialterminology and product names.• Don’t worry about small errors, as modern AI usually interpretsimperfect transcripts.SOPs deliver value whenthey’re regularly used.Writing an effective ChatGPT promptThe instructions you give ChatGPT influence the quality of yourSOP. A well-crafted prompt might look like this:”I have recorded a video showing [specific process, eg ‘how weconduct client annual reviews’]. Transform the transcript belowinto a comprehensive SOP document with these sections: Purposeand Scope, Required Systems and Access, Detailed ProcedureSteps, Compliance Considerations, Troubleshooting and QualityAssurance Checkpoints. Format it for readability with numberedsteps and clear headings.”Generating the initial draftCreating your SOP is straight-forward:• Enter your prompt followed by the transcript into ChatGPT.• Review the generated document carefully.• Ask for specific improvements where needed.ChatGPT will organise information logically, eliminateunnecessary details and create a structured document thatflows well.Enhancing the generated SOPWhile ChatGPT provides an excellent starting point, humanexpertise improves the final product:• Incorporate your firm’s specific terminology and branding.• Add references to relevant compliance requirements.• Include links to the original video recording for visual learners.• Add screenshots at crucial steps for clarity.• Ensure all steps align with best practices.Using SOPs regularly deliver value. Consider these strategies:• Store all SOPs in a searchable knowledge base or your practicemanagement system.• Use consistent tagging to make finding procedures simple.• Schedule regular reviews.• Create awareness by introducing new SOPs in team meetings.Financial advisory-specific applications• Client lifecycle processes from onboarding to review cycles.• Investment operations such as portfolio construction.• Back-office procedures.• Compliance processes.• Workflows across your various platforms.Benefits beyond efficiency• Ensuring consistency in client service.• Reducing operational risks.• Simplifying training.• Helping to identify process inefficiencies.• Avoiding key person dependencies.By combining video recording withChatGPT’s processing capabilities,financial advisory practices canbuild comprehensive procedurelibraries that enhance servicequality, boost operationalefficiency and strengthencompliance frameworks. Francois du Toit,Founder, PROpulsion62www.bluechipdigital.co.za

If you don’t pay, you don’t stayWhy authentic communication could be a hidden key to client retention.CLIENT ENGAGEMENT | CommunicationBLUECHIPThere’s a quiet truth in financial planning that fewprofessionals like to admit out loud: if you don’t pay, youdon’t stay. It sounds transactional – almost crude – but theunderlying behavioural dynamic is anything but. In fact, itcuts straight to the heart of one of the biggest challenges in clientretention: perceived value.In a profession where many planners work on commission orassets under management (AUM) models, it’s easy for clients toforget that they are, in fact, paying for an ongoing service. There’sno monthly debit order that they see. No invoice that remindsthem of your worth. And when the cost feels invisible, so too canthe value. This is where regular, human-centric communicationbecomes essential.The perception of valueIn behavioural psychology, this is known as effort justification, aprinciple within Festinger’s cognitive dissonance theory (Festinger,1957). It shows that the more effort or investment a person makes,the more likely they are to value the outcome. In a financial planningcontext, when clients feel invested, emotionally or financially,they’re more likely to stay engaged. But what happens when clientsdon’t feel like they’ve invested anything?Without clear and consistent communication, even yourmost valuable clients can begin to disengage.Not because the work you do isn’t important,but because it hasn’t been visible, relatable orrelevant in their lives. It’s not a reflection of yourvalue; it’s a reflection of how they perceive therelationship when they’re not reminded of thepositive difference it is making in their life.The human touchI’ve seen this play out often. Financial plannerspour hours into technical excellence, regulatorycompliance and strategic portfolio construction,but struggle to consistently show up in theirclients’ lives in ways that feel personal andmeaningful.A quarterly performance report or a dryproduct update just doesn’t cut it any more.What people crave, especially in times ofuncertainty, is conversation, not just information.They want stories that reflect their own financialjourneys. They want insight into how others arenavigating similar life transitions. They want tofeel understood, not just advised. They want tobe seen, not just sold to.This is why I believe that content is not theendgame; it’s the starting point. A well-craftedblog, newsletter or social media post should feel like the beginningof a conversation, not the closing of a sale.Building trustTrust isn’t built in a single meeting. It’s forged in the small,consistent moments between meetings. In the thoughtful emailthat lands when a client’s parent falls ill. In the blog that names thefear they’ve been carrying about retirement. In the LinkedIn postthat reminds them that wealth is measured not just in money, butin meaning.Content strategies that work are those that mirror real life.That speak to the messy, emotional, human side of money andnot just the spreadsheets, benchmarks and awards evenings. Andwhen your communication regularly addresses what your clientsare going through, you create an experience of care that’s hard towalk away from.Conversation over conversionToo many communication strategies are built around conversions.Click rates. Call bookings. Product pushes.But the planners who thrive are the ones who understand thatconversation precedes conversion. These are the planners who usecommunication not to transact, but to connect. Not to inform, butto engage. When a client feels emotionallyWhat happenswhen clients don’tfeel like they’veinvested anything?Tim Slatter, Creator, Contatti,Director, Slatter Communicationsinvested, they’re far more likely to stayfinancially invested too. So, how do you start?Be strategic. Don’t just create content – createconversations. Ask questions. Invite replies.Follow up personally.Be client focused. Make your communicationabout them, not you. Talk about their life, notyour service.Be authentic. Share stories, not stats. Useeveryday language. Let your personalitythrough.Be consistent. Whether it’s daily, weekly,monthly or bi-monthly (depending on themedium and platform), create a rhythm yourclients can rely on.Because at the end of the day, the fee isn’tjust financial. The real fee is trust; yours,and theirs. And the planners who continueto earn it, month after month, are the oneswhose clients don’t just stay... they grow.Let’s stop hoping that loyalty will holdwithout consistent connection. Show up. Stayin touch. Build something worth staying for. www.bluechipdigital.co.za63