6 months of Advisor Core: An update from co-founder, Gabe Rissman

6 months of Advisor Core: An update from co-founder, Gabe Rissman

Gabe Rissman shares an update on the growth of our achievements of AI OCR technology for statement extraction and portfolio analysis for financial advisors.

Gabe Rissman

Practice Management
February 29, 2024

About 6 months ago, we embarked on a groundbreaking journey with the launch of Advisor Core, aiming to transform the financial advisory landscape through advanced statement extraction, portfolio analysis, and proposal generation. Today, I'm excited to share the incredible progress we've made, highlighting our commitment to innovation and customer satisfaction.

Unwavering Commitment to Excellence in Financial Statement Extraction

Our team at YourStake has always prioritized customer service and rapid response, ensuring a seamless experience for financial advisors. Our dedication is evident in our 100% success rate in statement extraction, thanks to our swift issue resolution and proactive client support, enabling advisors to leverage our system for faster, more informed decision-making.

First-Shot Success: A Game-Changer in Statement Extraction

The journey over the past 6 months has been nothing short of exhilarating, our “first-shot” success rate for various statement types of statements has skyrocketed in the past few months! That means you click “upload” and our AI gets it right on the first try. 

Here are some highlights of key upload areas we’ve been fine-tuning our OCR/AI technology on:

- Brokerage statement PDF with tickers or CUSIPs: up to ✨ 95% ✨ first-shot success! It only fails when there’s a new statement type or format that our system has never seen before (and even then, it still sometimes succeeds). And our success rate continues to go up with each passing day.

- Retirement statement PDF with no tickers/CUSIPs: 85% success rate in extracting the fund names and values, and improving quickly, and we’re in beta with our “Magic Ticker Fill”, which will automatically fill in the closest match ticker when none is listed.

- Scan/picture of brokerage statement with tickers + symbols: Around 80% success rate. I think this number will be pretty stable, because there’s not much we can do about bad scan quality. If it’s hard for a human to read the statement, it’s hard for our AI to read it as well!

- Non-brokerage statement that contains holdings (e.g. a screenshot of a dashboard, or model portfolio performance review): 50% success rate and growing. Our AI system hasn’t been trained on these document types, but we’re adding this in over the next few months.

Continuous Innovation: Enhancing Our AI Capabilities

Our journey doesn't stop here. We're constantly advancing our AI technology to meet the evolving needs of the financial advisory sector. With ongoing updates and improvements, we're committed to providing the most advanced planning tools for financial advisors, ensuring they stay ahead and win more clients, faster.

Looking Forward: The Future of Financial Advisory Services with Advisor Core

The progress we've made is just the beginning. As AI technology advances, so do we. Stay tuned for more updates as we continue to enhance our platform, redefine financial advisory services, and empower advisors with cutting-edge tools.

Learn more about how Advisor Core does more than just statement extraction, including full portfolio analysis, chat-with-a-portfolio, and even proposal generation. 

Conclusion:

As we celebrate this 6-month milestone, we're not just keeping pace with the future of financial advisory services; we're actively shaping it. 

Join us on this exciting journey as we continue to break new ground across AI with Advisor Core.

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