Artificial intelligence-powered note-taking tools are gaining traction in wealth management.
Jump and Zocks, two rapidly growing startups, have both seen significant investment and have secured industry partnerships — along with positive feedback from advisors.
Jump, founded in 2023, closed a $20 million Series A funding round in February, bringing its total capital raised to $24.6 million. Zocks, founded in 2022, announced a $13.8 million
Independent broker-dealer Osaic announced earlier this month it would be adding
Clayton Chandler, chief data and analytics officer at Osaic, said prior to Jump and Zocks being broadly available across its network, the firm piloted both of these solutions with a group of 30 advisors, including individual practitioners, teams and some of its largest independent enterprises.
"The feedback was overwhelmingly positive across all of these populations, with advisors citing an average of four to six hours a week of time savings for either themselves or their staff," he said. "This freed up capacity for these advisors to more proactively focus on supporting their clients' needs."
This week, Phoenix-based Dynamic Wealth Advisors also announced a
Both Jump and Zocks were recently rated by financial advisors as preferred providers in the inaugural "search or generative AI tools" category in the
During a session at the T3 conference, Parker Ence, Jump CEO, said one of the tool's most popular features, aside from meeting documentation and follow-up email generation, is the integration of upcoming tasks in the CRM.
"The AI assistant is going to listen for all the action items that come up during the meeting, and it's going to turn those into editable data objects that you can then go through and review," he said. "The AI system will do things like guess at the due date based on the context of the meeting."
At another session at T3, Steven Latow, vice president of operations at Zocks, said the software helps advisors build an ever-growing family tree for clients.
"Who is in the family? What do we know about them?" he said. "We're identifying new information that we didn't know before and dynamically structuring it. ... This will track life events as well as financial goals."
What advisors are saying about Jump
Terri Krueger, owner and senior financial advisor at
"The app sends a pre-meeting report to remind the advisor of past discussions, including kids and pets and vacations the client may have taken," she said. "It records and summarizes the meeting, prepares tasks to be sent to your CRM with one or two clicks and sends a summary of the meeting to your client."
While AI note-taking tools can offer time-saving benefits, advisors also face data security and privacy considerations and the need to maintain oversight of AI-generated information.
Krueger, who uses Jump through her firm's affiliation with LPL, said she doesn't have concerns over security when using Jump, unlike some other AI tools.
"Recorded meetings in Jump are deleted in 10 days unless archived by the advisor," she said. "With other AI, it records and shares everything typed into the system with anyone who enters its app. Keep personally identifiable information (PII) out of the apps. Anonymous data and questions are perfect for ChatGPT-4 and other versions like it."
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Jeremy Finger, founder of
"Also, we have records of conversations to reference if we think we misunderstood or if AI made a mistake," he said. "We have no concerns using the tech. AI will help us be better, more effective advisors."
Yana Kossinskaya, head of client experience at
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Kossinskaya said her firm's primary focus is helping Americans move abroad "while avoiding an array of unpleasant problems, time is our most valuable resource."
"With Americans rapidly relocating to Europe, our phones are ringing nonstop, and the demand for our expertise has never been higher," she said. "Jump has been a game-changer, allowing us to instantly retrieve key client insights, streamline workflows and ensure no critical detail is missed. It acts as an intelligent extension of our team, enabling us to handle high client volume without compromising the quality of our service."
Kossinskaya said in the time her firm has been using Jump, it has only been an asset.
"We see AI as an enhancer, not a disruptor, helping us work faster and more effectively without losing the human touch," she said. "As long as AI remains a tool that supports expertise rather than replaces it, we welcome its role in shaping the future of wealth management."
What advisors are saying about Zocks
Zocks has been a "game changer" for Lawrence D. Sprung, founder of
"We no longer need to rely on writing all the notes from the conversations we have with the families we serve, and [that allows us to] truly pay attention to everything they are saying and have deeper and more meaningful conversations," he said.
Letitia "Tish" Berbaum, founder of
"With my guests on my calls, I share with them that I have effectively brought on a new assistant," she said. "The program is called Zocks, but we call it 'Zippy,' as it makes my time more efficient and my staff's time more effective. … We have a highly customized Salesforce platform, and Zocks has been able to adapt seamlessly, creating a smooth user experience."
Jordan Hutchison, vice president of technology and operations at RFG Advisory, said his firm's use of Zocks and other AI solutions serves as "a sidecar for advisors, acting as a trusted teammate in every client interaction and insight."
"The integrations we've built with our CRM are just the tip of the iceberg — there's much more already in development," he said. "Many firms still view CRM as the central core to everything, but that mindset is slowly shifting. As AI adoption grows, firms will recognize that AI and data form the true core of the client experience."
How Jump and Zocks compare
Mark Gilbert, co-founder and CEO of Zocks, said over 1,000 advisory firms have been onboarded to the platform since February 2024. Pricing is in tiers, with the lowest tier meant for solo professionals and small teams at $80 per month per user, the middle tier for larger teams at $130 per month per user and an enterprise level that is on a case-by-case basis.
"We're growing extremely quickly and have doubled our weekly active users in the last five weeks as well," he said.
Gilbert said Zocks differs from competitors like Jump in several ways. Zocks captures structured data for updated CRM, planning and client profiles across meetings and email, and fills out forms for clients.
"We have a different view on data security and privacy where we don't create audio or video recordings of clients while capturing information, so clients are more comfortable and compliance teams don't have to worry about deleting recordings or archiving them," he said. "We have an extensible platform with APIs so people can integrate Zocks directly into any of their systems, get our structured data into their data warehouse and do any number of other things because we have an integrated API-based platform versus a standalone app."
Jump's pricing starts at $75 per month for a single advisor and goes up depending on volume and number of seats. Ence said Jump has around 6,000 paying users and saw its paid user seats increase 25% from January to February.
Ence said Jump provides several security options, including for client disclosure or consent, options for recording or no recording, data retention or auto-deletion, safe data governance, and measures to prevent PII from training AI models.
"Customers see Jump as the research and development leader in the space, as Jump was the first to launch the features that now define the category," he said. "Customers see Jump as the most likely source of future innovation so they can stay on the frontier of what is possible with advisor AI in this area."
