Fort Mill, South Carolina, April 23, 2025 –
Leading industry research provider and wealthtech provider team up to provide financial advisors with empirical analysis of AI note-taking applications.
The Oasis Group, a leading consultancy for the wealth management industry, recently launched a new research report on Artificial Intelligence (AI) Note Takers, sponsored by AdvisorEngine Inc.®, a provider of a complete wealth management platform for investment advisory firms.
The comprehensive report evaluates the role of AI Note Takers in the wealth management sector – specifically analyzing their impact on financial advisors and their teams – and provides an in-depth analysis on six AI Note Takers.
“As AI-driven tools continue to reshape financial services, this study examines the effectiveness of AI Note Takers on advisor efficiency, the ability to streamline client interactions, and improve overall productivity,” said John O’Connell, founder and CEO of The Oasis Group. “The rapid adoption of AI in wealth management has been driven by a need for greater automation, compliance, and client engagement. AI Note Takers have emerged as a critical tool, promising to reduce administrative burdens while ensuring accurate and actionable meeting documentation.”
This research, which is the second research report in The Oasis Group’s Peaks Research series, assesses how these applications perform in real-world advisory environments, their integration with existing technology stacks, and their ability to support financial professionals in delivering personalized, high-value client service.
“There’s a lot of industry interest in AI and we wanted to initiate and support research that fleshes out how well AI performs in certain ways to aid firms,” said Rich Cancro, founder and CEO of AdvisorEngine. “AI Note Takers allow advisors to focus on the client instead of taking notes. So now they can fully participate in the conversation – that in and of itself makes the dialogue more accurate, because they're fully engaged throughout the conversation with prospects and clients. The conversation will be better.”
With AI usage on the rise in the industry, firms are increasingly exploring solutions that enhance advisor-client engagement without compromising security, compliance, or data integrity. The findings of this study provide valuable insights into the effectiveness of AI Note Takers and their role in the evolving landscape of wealth management technology.
To download the free AI Note Takers research report, sponsored by AdvisorEngine, please click here.
APPROACH AND METHODOLOGY
The Oasis Group conducted a comprehensive evaluation of AI Note Takers in the wealth management space, using a structured approach to assess their effectiveness in supporting financial advisors and their teams. The study focused on determining the ability of AI-driven note-taking applications to enhance advisor efficiency, improve client interactions, and accurately document financial discussions.
A controlled, real-life scripted interaction was developed to simulate a financial planning conversation between a financial advisor and a married couple, who were discussing key aspects of their financial needs, including income and expenses, life insurance, college planning, and retirement planning.
This scripted interaction was uniformly tested across six AI note-taking applications: FinMate, GReminders, Jump, Mili, Zeplyn, and Zocks, with each AI Note Taker evaluated based on its ability to capture the full conversation, summarize key insights, identify key financial components, assess conversation temperament, and generate actionable next steps. Beyond conversation accuracy and data extraction, The Oasis Group also conducted a User Interface (UI) and User Experience (UX) evaluation of each application to assess usability and intuitiveness, automation and customization, integration capabilities, and distinguishing features.
This structured approach enabled The Oasis Group to conduct a data-driven, practical assessment of AI Note Takers in the wealth management industry. The findings offer valuable insights into the effectiveness of these applications, their potential to improve advisory workflows, and their role in enhancing financial professionals’ ability to deliver personalized, high-quality service to their clients.
“AdvisorEngine is excited about integrating and working with AI firms and we want to understand which ones are developing meaningful offerings,” added Cancro. “We continue to partner with RIAs and strive to be a resource when they are making decisions.”
The AI Note Takers research report is available for free download on The Oasis Group’s website, as part of the firm’s Peaks Research series.
The first study of the Peaks series, also available on The Oasis Group’s website, is The Oasis Group's Peaks for Custodian Platforms, which focuses on the RIA and BD custodian market. The report for Custodian Platforms provides wealth management executives with an empirical analysis of the leading custodians’ capabilities, featuring a comprehensive overview of the custodian market, as well as in-depth reports on each of the industry’s top custodians.
To learn more about The Oasis Group’s Peaks Research series and to download both reports, please click here.
ADVISORENGINE WEBINAR AND CONFERENCE
In addition, AdvisorEngine will host a webinar on Wednesday, May 7th with O’Connell, Raj Madan, CIO/CTO of AdvisorEngine, and Suleman Din, Advisor Intelligence Lead at AdvisorEngine, titled ‘AI Note Taking 101: The Advisor’s Guide’. The webinar will provide an overview of the research report and highlight key findings, offering advisors valuable insights into how AI note takers perform in real settings. Financial advisors and other interested parties can register for the webinar here.
O’Connell will also be attending and speaking at the AdvisorEngine drive2025 Conference, taking place April 30 – May 2, 2025, in West Palm Beach, Florida. O’Connell will deliver a presentation with Madan on ‘AI and its evolving role in wealth management’ on Wednesday, April 30th at 5:20pm ET, where he’ll highlight AI note takers and other AI solutions taking hold in the wealth management industry.
ABOUT THE OASIS GROUP
The Oasis Group is a leading consultancy in the wealth management industry, helping wealth management and financial technology firms create and focus on their unique value proposition to attract advisors and clients, and ultimately generate higher revenue. The Oasis Group offers award-winning consulting services, industry-leading research, and compelling on-demand training for wealth management firms and the service providers who serve the wealth management industry. With extensive leadership experience in both emerging businesses and mature, established organizations, founder John O’Connell and his team are passionate about helping financial services and technology firms solve their most complex technology and sales challenges, helping clients stay focused on their growth, generate more revenue through great sales processes, build fantastic products by understanding the market and competition, and provide amazing service to their customers and clients. To learn more about The Oasis Group, visit www.TheOasisGrp.com.
ABOUT ADVISORENGINE
AdvisorEngine powers financial advice that is personal, scientific, and beautiful. The company's technology is trusted by wealth management firms in the United States that manage $600 billion of assets. Its wealth management platform uses smart automation to modernize the advisor experience (AX), the business operations experience (BX), and the client experience (CX). Modules include prospect engagement tools, paperless client onboarding, account aggregation, AdvisorEngine CRM®, goals-based financial planning tools, model portfolios tools, portfolio construction analytics, performance reporting, and fee billing. AdvisorEngine is a wholly owned subsidiary of Franklin Resources, Inc., a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 150 countries. For more information, please visit www.AdvisorEngine.com.
Media Contact:
Jonny Swift
mpact Communications, Inc.
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JonnySwift@ImpactCommunications.org