Zocks raises $45M in continued push for AI as advisor growth driver

Zocks has raised $45 million in fresh capital as it looks to push its AI platform deeper into advisors’ day-to-day work and firm-level strategy.

The San Francisco-based firm said Monday it closed a Series B round co-led by Lightspeed Venture Partners and QED Investors, with participation from Illuminate Financial and existing backers such as Motive Partners, Expanse Venture Partners, Entrée Capital and 14Peaks Capital.

The funding brings Zocks’ total capital raised to $65 million, following a Series A in March last year.

Zocks positions itself as a privacy-focused AI system that turns advisor-client conversations and other unstructured information into structured data. The company says advisors already save more than 10 hours a week on administrative work as the platform pulls details from meetings and emails into CRM, planning, tax and portfolio tools, then automates workflows like onboarding, account openings and post-meeting follow-up.

With the new funding, Zocks plans to push further into the emerging field of agentic AI, shifting from basic task automation toward surfacing planning opportunities across an advisor’s entire book of business. As the wealth tech firm tells it, advisors will be able to ask the platform to identify, for example, households without college savings plans, clients with old 401(k) assets held away, or those approaching required minimum distribution age, then receive suggested next steps and carry them out with a single click.

“This past year has shown just how fast AI is advancing and, with it, how quickly client expectations are changing,” Mark Gilbert, CEO and co-founder of Zocks, said in a statement Monday. “Clients want highly personalized service where advisors are anticipating their needs. Zocks is both a system of work for advisors, and now also a system of insight for advisors and firms.”

More than 5,000 financial firms use Zocks, according to the company, including enterprise clients such as Ameritas, Carson Group, Commonwealth, and Osaic.

Its recent integrations with planning providers eMoney and RightCapital, as well as tools like PreciseFP and Holistiplan, are aimed at letting advisors move from client conversations to completed plans with less manual data entry.

“Most other solutions are built by or for one system — like a CRM or meeting app,” Gilbert told InvestmentNews in October. “Our idea is that we can do a lot more for the advisor by interconnecting with a lot of different systems.”

The capital raise comes as advisory firms weigh how far to lean into AI. In Advisor360’s latest Connected Wealth Report, 74% of advisors said generative AI already helps their practice, but only 3% said they trust AI-generated financial recommendations.