Nate Porter, Chief Operating Officer
This month we have started using a new note-taking application called Jump to help document our client meetings. Jump acts as a virtual stenographer. It will “sit in” on our client meetings, transcribe the conversation, and then draw up a first draft of meeting notes, summaries, and suggestions for follow-up.
Considering the Benefits
Our hope is that Jump will enhance human connection during our meetings and ensure more accurate follow-up afterward. We have done quite a bit of research on this topic, and we are confident this is a meaningful step forward for our team and, most importantly, our clients. Here’s why:
More Focus, Less Distraction
Jump frees our Advisors from constant notetaking during meetings, allowing them to engage in conversations fully. Instead of looking down at a notepad or keyboard, they can focus on listening, discussing, and advising.
More Efficiency, Less Administrative Drag
Incorporating Jump into our process means faster meeting summaries, more organized records, and improved collaboration. Ultimately, our goal is to keep our team informed on the outcome of our meetings and focused on serving clients.
More Accurate, Actionable Follow-up
Jump will capture every key decision, follow-up, and action item. This ensures precise communication, streamlined and faster execution, and consistent documentation for our SEC compliance requirements.
Considering the Risks
Sometimes, I feel like my superpower must be “Healthy Skepticism.” When the topic of AI is mentioned, for example, my spidey sense REALLY starts to tingle. I have MANY questions. Here are some of the topics that we had to work through before deciding to partner with Jump:
Client data security & privacy are of top concern. Will Jump use our meeting data for training or sell our information?
Thankfully, no. Unlike some AI tools that collect and use data to refine their models, Jump does not train its models using client data or sell or share any information. Firm and client information is not added to the “data pool.” Using Jump, our conversations remain as confidential as they always have been.
Additionally, Jump complies with strict data privacy and security protocols, including SOC2 Type II compliance, end-to-end encryption, and multi-factor authentication through Microsoft. This ensures that all client data remains protected and inaccessible to unauthorized parties. We also maintain control over data retention policies, allowing us to determine how long meeting records are stored before they are deleted.
We must remain transparent. Will clients know when AI notetaking is being used? Can they opt out?
Every participant in a meeting will be informed when an AI note-taker is being used. If the meeting is conducted virtually, you will see the “SVA Notes” participant. If the meeting is in person, the meeting will be captured via a secure App. If clients would prefer we not use this tool, they can say so anytime, and we will turn it off.
Could AI misinterpret what is said in a meeting?
It ABSOLUTELY can. It can misunderstand words, miss subtle meanings, or even misidentify key takeaways. An advisor will review every AI-generated note before it is saved or shared. Essentially, Jump is writing a first draft, not doing our work for us.
We prioritize human connection above all else. Can AI understand tone, sarcasm, or non-verbal cues?
AI is a great tool, but a tool is all it is. It will never replace human judgment, interaction, and reasoning. Unlike a person, AI cannot read body language, detect sarcasm or anxiety, or read subtle shifts in tone. Our Advisors, on the other hand, will remain fully engaged in meetings, ensuring that context, intent, and emotion are properly understood and communicated.
Your Experience, Your Choice
So that you know, your advisor will remind you about Jump at the beginning of your next meeting. If you would prefer that we not use the tool, please let us know. Our priority is to serve you in the way that best aligns with your preferences and comfort.
One last thing: this article provides a high-level overview of our thinking. If you would like to learn more about Jump—what it does, what it doesn’t do, our broader stance on the use of AI…. or the price of eggs—I would be happy to chat. Send me an email, and we will talk about it.
Here’s to a better-connected future.