The problem
Before each annual review someone keys values, contributions and charges from every pension and investment statement into the review pack. If you hold 33 reviews a month, each with about 4 provider statements, and keying them takes 20 minutes a review, that's 660 minutes, 11 hours a month.
What the AI does
Parseur gives you a mailbox address. Forward each provider statement PDF to it, choose the fields you want (provider, plan number, valuation date, value, contributions, charges) and its AI parsing engine pulls them out into Google Sheets or an Excel export. The administrator checks every figure against the statement before it goes into the review pack. The adviser then prepares the review and any recommendation as usual.
A worked example
A three-adviser firm in Harrogate holds about 33 annual reviews a month, each with about 4 provider statements of 3 pages. That's about 400 pages a month, so it uses Parseur's Starter plan (1,000 pages).
Before
20 minutes keying statements for each of 33 reviews: 11 hours a month
After
About 7 minutes to forward and check each review's figures: 3.9 hours a month
What it's worth
About $238£179€213A$344C$337 a month in administrator time, against $113£85€101A$163C$160 to $148£111€132A$213C$209 for Parseur. That is 13 minutes saved on each of 33 reviews, 429 minutes or about 7.15 hours, at an assumed $33£25€30A$48C$47 an hour. Starter is €129 (about $148£111€132A$213C$209) a month, or €1,188 a year (about $113£85€101A$163C$160 a month), for 1,000 pages; the smaller Mini plan's 300 pages wouldn't cover about 400 pages a month.
How to set it up
- Check with your compliance lead and data protection lead before any client statement goes to a new processor.
- Try the free plan (20 pages a month) on statements from your three most common providers.
- Set up the fields your review pack needs and send results to a sheet.
- The administrator checks every value, date and charge against the PDF before it goes into the pack.
- Count pages monthly and forward only the valuation pages, not full annual packs.
What goes wrong
- A misread value or date in a review pack can lead to a wrong conversation with the client. Every figure is checked against the statement before the adviser sees it.
- Statements hold identifiable client financial data. Parseur's page says it is GDPR compliant but not where data is stored; get a data processing agreement and check it for UK GDPR first.
- The extraction is admin only. Suitability, recommendations and the review record stay with the adviser under FCA rules.
- Prices are in euros and by page, so long statements and exchange rates both push the cost up.