Roughly a year after bursting onto the wealth tech scene, AI-powered platform provider Jump has gotten a substantial boost to support its efforts to support financial advisors and wealth firms.
Jump announced it has received $20 million in backing from a consortium of investors led by Battery Ventures, with participation from Citi Ventures, Sorenson Capital, and Pelion Ventures Partners.
The firm said it will use that capital infusion, raised in a Series A funding round, to enhance AI-driven workflows, expand sales and support teams, and build stronger partnerships with solo practicioners, RIAs, and independent broker-dealers across the industry.
Founded by veteran fintech entrepreneurs, Jump has quickly established itself as a reliable and effective tool for financial advisory enterprises and their advisor workforces.
The latest investment brings the total funding for the firm, which launched publicly in January 2024, to $24.6 million.
Dharmesh Thakker, general partner at Battery Ventures, highlighted "Jump’s leading product and market position, the quality of their team, their rapid growth and the positive reviews they’ve received from their customers.
"As the wealth industry transitions into the AI era, Jump has quickly become the default choice for individual financial advisors and enterprise leaders looking to adopt this transformative technology in a safe, practical way” Thakker said in a statement Monday morning.
Jump’s AI assistant integrates with meeting apps such as Zoom and Teams, as well as CRM solutions Salesforce, Wealthbox, and Redtail.
With the ability to automate tasks like meeting preparation, note-taking, compliance documentation, CRM updates, and client follow-ups, the company says its technology can also be customized based on firms' policies and compliance needs.
Over the past year, it has reportedly achieved an average monthly growth rate of over 35 percent. That includes key partnerships with major names in the wealth space including LPL Financial – which added Jump to its AI Advisor Solutions Program in November – as well as Sanctuary Wealth, Integrated Partners, and Mission Wealth.
According to Jump, a recent user survey found that advisors using the platform save an average of one hour per workday, with some reporting multiple hours saved. An 84 percent majority of advisors ranked Jump above other AI-based tools for meeting prep and follow-up, the firm said.
Parker Ence, Jump’s chief executive officer and co-founder, credited early adopters for the company’s expansion.
"We are incredibly grateful to our customers, partners and team members who embraced this vision early and helped spread the word, driving our growth almost entirely through word of mouth,” Ence said Monday.
Eliseo Prisno, a former Merrill advisor, allegedly collected unapproved fees from Filipino clients by secretly accessing their accounts at two separate brokerages.
The Harford, Connecticut-based RIA is expanding into a new market in the mid-Atlantic region while crossing another billion-dollar milestone.
The Wall Street giant's global wealth head says affluent clients are shifting away from America amid growing fallout from President Donald Trump's hardline politics.
Chief economists, advisors, and chief investment officers share their reactions to the June US employment report.
"This shouldn’t be hard to ban, but neither party will do it. So offensive to the people they serve," RIA titan Peter Mallouk said in a post that referenced Nancy Pelosi's reported stock gains.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
