A system, over a communications network, for using machine learning and artificial intelligence to generate a financial plan and streamline onboarding of a client, comprising:
- a connected database comprising a customer relationship management system for storing a plurality of client records;
- a memory;
- a network interface device communicatively coupled with the communications network;
- and,
- a processor configured for:
- initiating, with a first computing device, an audio-visual communication channel over the communications network between a second computing device associated with a financial advisor and a third computing device associated with the client;
- recording a first conversation comprising at least audio data between the financial advisor and the client conducted via the audio-visual communication channel;
- transcribing a recording of the first conversation to generate text data and storing the text data in a client record of a customer relationship management system;
- querying the connected database;
- identifying first financial information from at least one of the recording of the first conversation and the transcribed text data using at least one machine learning algorithm comprising at least one sniffer algorithm;
- wherein the at least one sniffer algorithm comprises at least one of (i) natural language processing algorithms, (ii) pattern recognition algorithms, and (iii) data classification algorithms to analyze data, extract, and capture predetermined relevant financial information;
- extracting the first financial information based on the at least one sniffer algorithm;
- querying in the connected database, a preprogrammed financial plan algorithm for generating a provisional financial plan based on the first financial information identified from the recording of the first conversation;
- determining missing financial information not in the financial information based on preprogrammed financial plan algorithm;
- generating a first message comprising a request for the missing financial information and causing a transceiver of the first computing device to send the first message over the communications network to the third computing device, wherein the third computing device, responsive to the first message, displays on a graphical user interface selectable prompts in the form of icons corresponding to the missing financial information;
- causing the transceiver to receive a second message over the communications network from the third computing device, the second message comprising second financial information corresponding the missing financial information;
- generating a financial plan based on the second financial information as the provisional financial plan;
- providing a conversational artificial intelligence assistant for engaging in at least one of (i) text based communications, and (ii) audio based communications with at least one of the financial advisor and the client;
- engaging in a second conversation between the conversational artificial intelligence assistant and at least one of the financial advisor and the client;
- extracting third financial information from the second conversation using the at least one sniffer algorithm;
- causing the transceiver to receive a plurality of documents from at least one of the second computing device and the third computing device;
- analyzing the plurality of documents to extract fourth financial information using the at least one machine learning algorithm;
- and
- editing the financial plan based on the third financial information and the fourth financial information to generate an updated financial plan.