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AI for Financial Advisors Startup Jump Raises $4.6M

Insider Brief

  • Jump raised $4.6 million in funding led by Sorenson Capital and Pelion Venture Partners to enhance its AI software for financial advisors.
  • Jump’s AI automates repetitive administrative tasks, enabling advisors to focus on client relationships and advising, with deep CRM integration.
  • Launched in January 2024, Jump has gained rapid adoption and industry recognition, winning “Best in Show” at Wealthstack Tech Demo and being a finalist for three Wealth Management Industry Awards.

PRESS RELEASE — SALT LAKE CITY, UT/ACCESSWIRE/June 10, 2024 — Jump, AI software for financial advisors, announced today that it has raised $4.6 million in funding led by Sorenson Capital with significant participation from Pelion Venture Partners and strategic angel investors.

Jump enables advisors to concentrate on their core competencies-advising and building relationships with clients-by using AI to automate repetitive administrative tasks like notetaking, sifting through data from previous client calls and notes to prepare for meetings, writing follow-up emails, generating task lists, and syncing relevant data to CRM (including deep integration with Wealthbox, Redtail, and Salesforce).

“We’re thrilled to partner with Sorenson Capital and Pelion so that we can do even more to help financial advisors minimize time spent on client meeting admin while elevating the client and advisor experience,” said Parker Ence, CEO and Co-founder of Jump. “The Jump team is proud to play a part in helping advisors future-proof the critical work they do in the age of AI as they help their clients navigate some of the most important decisions in their lives.”

After its founding by Ence, Tim Chaves, and Adam Kirk in 2022, Jump launched in January 2024, following over a year of intensive R&D, including a closed beta. After just a few months, hundreds of RIA and Broker-Dealer advisors are using Jump, which has grown almost entirely from organic word of mouth.

Here’s what advisors are saying about Jump:

“What used to be 40 minutes of typing meeting notes, organizing tasks, and posting to CRM, we now get 95% done in 3–4 minutes.” — Jack Csenge, CFP, Csenge Advisory Group

“You guys.. Jump is dreamy. It takes great notes, handles dual partners in one Zoom very well, has a great UI, great support, and it syncs notes and tasks to Wealthbox. It’s SO GOOD.” — Michael Reynolds, Principal, Elevation Financial

“This is already saving our team dozens of hours per month just in notetaking and CRM updating time.” — Veronica Fox, Chief of Staff, Solidarity Wealth

Jump’s technology has already received recognition from industry leaders, including winning “Best in Show” at the May 2024 Wealthstack Tech Demo competition at Wealth Management EDGE, and on June 4, it was named a finalist for three categories of 2024 Wealth Management Industry Awards (the “Wealthies”): “Disruptor,” “Artificial Intelligence,” and “Innovative New Application.”

“Jump’s platform is designed to alleviate many of the manual, frustrating tasks that financial advisors regularly deal with,” said Eric Hilton, Principal at Sorenson Capital. “The feedback from advisors has been overwhelmingly positive, praising both the Jump team and their category-leading product. We are excited to support Jump in defining the future of AI-native automation for financial advisors.”

Tyler Hogge, Venture Partner at Pelion, added, “Jump is clearly resonating with financial advisors. Every advisor we’ve talked to has been impressed by the product and its ability to save significant time and elevate the client and advisor experience. Jump fundamentally changes the advisor’s job.”

For more information about Jump and its work to create helpful AI tools for financial advisors, visit Jump’s website or follow Jump on LinkedIn.

Evan Sneider
Red Rooster PR
[email protected]