Zocks, a wealthtech company that uses an AI assistant to assist financial advisers, raised $13.8 million in Series A funding led by Motive Ventures. The funding will be used to address the anticipated shortage of financial advisers in the US, as nearly 38% of the industry is expected to retire within the next decade. The platform uses generative AI to assist advisers by tracking communications, suggesting next steps, and automating compliance tasks, thus reducing administrative work. With increasing complexity in financial products, Zocks aims to help advisers manage growing client expectations and workloads efficiently.

AI Assistant for Wealth Management Zocks Raises $13.8M