Advisor360°, the wealth management technology provider, has acquired Parrot AI, a Boston-based generative artificial intelligence developer.
Parrot AI lets advisors record, transcribe and summarize meetings to produce shareable notes and files that securely integrate with all major meeting and conferencing platforms.
Along with integrating generative AI capabilities into its configurable platform, Advisor360° also plans to introduce Parrot AI’s software as a standalone version specifically for advisors, according to the announcement.
The transaction involves 12 new full-time employees for Advisor360° — including Parrot AI CEO Paul Morville. The team has significant experience across software and product development, information security, and privacy protection for enterprise companies.
Mike Fanning, CEO of Advisor360°, said in a statement that advisors commonly devote many hours and substantial resources to holding and documenting client meetings.
Tools that help them transcribe notes and summarize meetings will deliver significant time savings, in addition to higher-quality documentation to be used in the planning process.
“This team is at the forefront of what’s possible with gen AI, and they’ve created software that will meaningfully improve advisors’ ability to serve clients,” Fanning said.
Post-transaction, Advisor360° will integrate Parrot AI’s software onto its configurable platform, eliminating post-meeting task creation and coordination.
The application’s secure meeting transcription will generate actions in Advisor360°’s CRM that, once approved by advisors, will trigger automated workflows across its core applications.
Pictured: Mike Fanning
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.