Deploy a Financial Plan Preparation Agent and Keep Every Plan Current
The AgentWorks Financial Plan Preparation Agent does the gathering and drafting that keeps a financial plan current. It collects current balances and client data, drafts the plan update in your planning software's format, and flags every assumption that has changed for the advisor to review, so the paraplanner and the advisor spend their hours with clients rather than rebuilding plans at night.
What it takes off your plate
Every advisor knows which plans are current. The top households get a fresh plan every year because their reviews demand it. The B- and C-tier households, the ones who trust you just as much, often sit on a plan built when they first came in. Nobody decided that. The update simply never fits in the week.
Updating a plan is a project. Someone has to request the latest statements for held-away accounts, confirm the salary and savings figures, ask whether the retirement date has moved, and enter all of it into the planning software before the advisor can even look at the result. That is several evenings of work per household. The cost is a book where some clients are planning on stale numbers, and an advisor who cannot say with confidence that every household's plan still holds.
What the Financial Plan Preparation Agent does, step by step
The Financial Plan Preparation Agent begins by collecting what the household knows and the firm does not.
- It schedules the update. It picks households whose plans are due under the firm's schedule and emails or texts each one to say an update is coming and what will be needed.
- It asks the client. It sends a short questionnaire covering the facts that change: income, savings, planned retirement date, a new grandchild, a home sale, a change in health coverage. It follows up with anyone who has not replied, and confirms receipt when they do.
- It gathers the documents. It requests statements for held-away accounts the client has agreed to share, chases the ones still outstanding, and logs each document as it arrives.
- It pulls the balances. It takes current positions and balances from custodian and portfolio data, such as Orion, and matches them to the accounts in the plan.
- It drafts the update. It enters the new figures into the planning software, such as eMoney, in the format the plan already uses, and produces the updated draft.
- It flags what changed. It lists every assumption that differs from the last plan: a later retirement date, a lower savings rate, a new goal, a changed allocation. It does not alter the recommendations or decide what the changes mean; the advisor reviews each flag and makes every planning judgment.
Where the work is recorded
Every message, questionnaire reply and document request is logged on the household record in the CRM your team already works in, such as Redtail or Wealthbox. When a client calls to ask whether their statements arrived, your associate can see exactly what is in and what is still owed.
The plan update itself lives where plans always live, in the planning software, as a draft with the changes marked. The next morning the advisor opens a list of households whose drafts are ready, reads the flagged assumptions for each, and turns what used to be several evenings of preparation into a review session. The Financial Plan Preparation Agent leaves a trail a person can pick up at any step.
For the meeting that follows, see how client review automation works with your CRM.
What your people do instead
The advisor spends the time on the part only an advisor can do: reading the updated plan, deciding what the changes mean for the household, and sitting down with the client to talk it through. A couple who have pushed their retirement date back hear from their advisor while the change still matters.
Your paraplanner or associate stops keying statement figures into the planning software and goes back to the clients: answering questions, handling paperwork and preparing the conversations that follow each update. Service to every household, not just the largest, is the human job; the agent keeps the gathering and the drafting moving around it. The same thinking runs through our post on automating client review prep with AI workflows.
One next step
If part of your book is planning on numbers from years ago, take the free Financial Services Industry Assessment. It shows which workflow an agent should take first. To see the other agents built for advisory firms, visit the AgentWorks financial advisor page.
See where the Financial Plan Preparation Agent would start in your financial services business.
I'm Harris, the Financial Services ambassador here. The free Industry Assessment reads your website and asks how calls, follow-ups and records happen today, then shows the first workflow worth handing to an agent like this one — and what your team gets back. Leave your email and I'll send the link.
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