Redtail Technology Adds Artificial Intelligence to Advisor CRM

Redtail Technology, a provider of client relationship management (CRM) solutions for financial services firms, has introduced advanced artificial intelligence capabilities that will enable advisory firms to access data and trends about current and prospective clients directly within the CRM.

Redtail's machine-learning features use transfer learning, allowing companies to take smaller amounts of data to begin the learning process. The system then analyzes emails, notes, and text messages to predict and estimate client needs, create better outcomes, and discover important connections . The Redtail platform analyzes sentiment, key phrases, and entities, which include new topics, brands, products, or goals that are gaining or losing traction with clients.

"Given the volume of data typically required for a machine to start learning, this level of artificial intelligence has only been available at large institutions, until now," said Redtai CEO Brian McLaughlin in a statement. "What's most exciting about this rollout is that Redtail has democratized access to AI to create a more intentional, informative process by which advisors at any firm can interact with their clients."

Advisors who use Redtail can integrate machine-learning into their workflows by automating actions within their CRM and send emails or text messages with links to client sentiment data. The data can also be used to influence recommendations or make product suggestions.

"Every day, more than 200 billion business emails are sent worldwide," McLaughlin said. "Think about the endless possibilities that exist in our industry to extract information that gets to the heart of who clients are and what they want. This data is the lifeblood of any successful financial services practice, and advisors unable to take advantage of it are not only missing an opportunity to better understand their clients, they're falling behind the rest of the pack."

Related Articles

StratiFi and Redtail Announce Integration Partnership

The integration between StratiFi and RedTail will provide shared users access to StratiFi's PRISM Rating technology via single sign-on through their Redtail credentials.