Mili Secures $2 Million to Revolutionize Wealth Management with AI Solutions

Mili's Breakthrough in Wealth Management

Mili, a cutting-edge AI platform designed specifically for wealth management firms, has emerged from stealth mode with an exciting announcement: the company has successfully secured $2 million in seed funding. This funding round was led by esteemed investors Chiratae and BoldCap, with additional support from Sparrow Capital, SFMG Wealth Advisors, Quent Capital's Gregg Fisher, and Better Capital.

The wealth management sector is currently navigating an unprecedented transformation as more than $124 trillion in assets is poised to transition to younger generations within the next two decades. This shift presents a unique opportunity for financial advisors, yet they currently allocate an alarming 60% of their time on administrative tasks rather than nurturing client relationships. To address this challenge, Mili has developed its intelligent assistant that automates meeting documentation—potentially saving advisors over six hours weekly, which corresponds to reclaiming one to two months of productive time each year.

"AI in wealth management isn't merely about technology; it's fundamentally about trust," stated Chirag Gandhi, Mili’s CEO and Co-Founder. "Our goal in building Mili was to create the most secure, compliant, and adaptable solution available, empowering advisors to concentrate on what truly matters—their client relationships."

Seamless Integration with Everyday Tools

Mili's solution boasts compatibility with a variety of platforms, including Zoom, Google Meet, and Microsoft Teams, as well as traditional phone calls and in-person meetings. Each wealth management firm utilizing Mili is provided with customizable templates and templates that are tailored to their specific workflows. Ensuring the highest standards of data security and compliance, Mili operates on SOC 2-certified infrastructure, allowing for robust integrations with major wealth management platforms such as Salesforce, Wealthbox, Practifi, and Salentica.

A Paradigm Shift in Client Interaction

Ranjith Menon, Managing Director at Chiratae, remarked on the industry's evolution, stating, "Mili's enterprise-centric approach alongside its strong emphasis on trust is setting a new benchmark for AI deployment within wealth management firms." In the same vein, Sathya Nellore Sampat, Partner at BoldCap, highlighted that many firms grapple with limited service teams, leading to struggles in meeting customer demands. He noted, "With Mili, firms can access a compliant digital worker that manages everything from meeting notes to client onboarding processes, which in turn lets advisors invest more time in fostering client relationships."

The recently acquired funding will not only expedite Mili's product development initiative but will also facilitate the expansion of its engineering and customer success teams.

The Future of Mili

Founded in 2024, Mili aims to redefine productivity for wealth management professionals. By providing an AI-driven meeting assistant focused on reducing administrative burdens by a staggering 90%, the platform promises enhancements in compliance while delivering a personalized service at scale. With an underlying foundation of bank-grade security and industry insight, Mili is designed to revolutionize how wealth advisors operate within an increasingly digital landscape.

As the wealth management industry continues its evolution, Mili stands ready to lead the way in harnessing AI to transform adviser-client interactions and operational efficiency. Learn more about this innovative solution by visiting Mili's website.

Mili Co-Founders