In this episode of The Trusted Adviser, host Rob Pyne sits down with Nick Perrett, CEO of Yarra Lane Group, to explore how financial advice firms can harness AI agents and robotic process automation (RPA) to revolutionise their operations.
Over the past two years, Nick has been quietly transforming Yarra Lane’s multi-disciplinary practice – which spans financial planning, tax, legal, lending, insurance, and bookkeeping; by embedding “digital staff members” into everyday workflows. The result? Faster turnaround times, consistent processes, happier clients, and human advisers freed up to focus on high-value work.
Nick shares how his bots, affectionately named “Henri” and “Grace,” handle everything from preparing annual review packs and updating insurance data to valuing client properties and building presentation decks. He explains the technology behind them, how he ensures data security and compliance, the cultural shift within the team, and why automation is as much about improving client experience as it is about saving time.
Whether you’re a principal, practice manager, or adviser curious about where to start, this episode offers a practical roadmap for integrating automation into your firm, without losing the human touch clients value most.
LISTEN
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SHOW NOTES
Topics discussed
- How a simple conversation kick-started Yarra Lane’s automation journey.
- Why Nick chose not to become a tech company and instead partnered with specialists.
- How AI-powered bots operate across six professional service divisions.
- The process of turning a screen recording into a fully functional automated workflow.
- Practical examples of high-impact automation in financial advice:
- Annual review preparation
- Portfolio and insurance data updates
- Property valuations via RP Data
- Generating client-ready PowerPoint packs
- Ensuring privacy and security when deploying bots in a regulated industry.
- The unexpected cultural benefits of removing repetitive tasks from staff workloads.
- Measuring ROI through hours saved, productivity gains, and client experience improvements.
- How automation influences hiring decisions and team structure.
- Nick’s long-term vision for advice firms with “digital employees” working alongside human ones.
Quotes
- “We don’t want AI to recreate everything we’ve done, we just want our processes done really quickly.” – Nick Perrett
- “Bots don’t work eight hours a day, they work 24/7. But the real magic is redeploying your people to do higher-value, client-facing work.” – Nick Perrett
- “Automation forces standardisation. If you want consistency in client experience, this is the game changer.” – Nick Perrett
- “In five years, there’ll be agents offering the services you do faster and cheaper. The time to start is now.” – Nick Perrett
Key takeaways
- Start simple, scale fast – The first automated process takes the longest, but each subsequent build is faster.
- Target high-frequency or high-duration tasks – Daily tasks or long processes yield the biggest efficiency gains.
- Automation forces consistency – Bots ensure every process is done the same way, every time.
- Protect client data rigorously – Keep bots operating entirely within your secure environment.
- Measure ROI with precision – Track hours saved, costs offset, and capacity gained for high-value work.
- Automation doesn’t replace humans – it elevates them – Freeing staff from repetitive admin lets them focus on client relationships.
- Cultural buy-in is easier when you remove the tasks no one enjoys – Staff embrace tech that eliminates tedious work.
- SMEs are in the automation sweet spot – Big enough to have process complexity, small enough to be agile.
Show notes and transcript
For the full show notes and transcript from this episode, head to the episode page on The Trusted Adviser Website here.