Expert systems and their impact on the firm: the effects of PlanPower use on the information-processing capacity of the Financial Collaborative

Abstract

A discussion is presented of the Financial Collaborative (TFC), which is a small, expertise-intensive and relationship-orientated financial planning firm whose aim is to serve individuals with incomes of six figures or more who also have a net worth of over $1,000,000. In late 1985, TFC's immediate needs centered on increasing its ability to write financial plans and to service clients better. TFC implemented PlanPower, an expert system which is designed to help financial planners create more accurate and comprehensive financial plans in less time. A discussion is presented of PlanPower implementation, focusing on pre- and postimplementation capacity and plan design.<>