Advisor360° Acquires Generative Artificial Intelligence Provider Parrot AI

Advisor360°, a provider of integrated technology for enterprise wealth management firms, has acquired Parrot AI, a Boston-based generative AI technology firm. The terms of the deal were not disclosed.

The acquisition builds on Advisor360°’s existing AI capabilities with the addition of Parrot AI’s premium software – enabling advisers to record, transcribe, and summarize meetings to produce shareable notes and files that securely and seamlessly integrate with all major meeting and conferencing platforms.

Along with integrating premium generative AI capabilities into its ecosystem of wealth solutions, Advisor360° also plans to introduce Parrot’s software as a stand-alone version specifically for advisers.

Advisor360° has acquired Parrot AI’s core technology and intellectual property as part of the transaction and welcomed 12 full-time employees, including Paul Morville, chief executive officer and co-founder of Parrot AI. The team has experience across software and product development, large-scale SaaS, and information security and privacy for enterprise companies.

“We’re thrilled to welcome Paul and the Parrot AI team to Advisor360°,” said Mike Fanning, CEO of Advisor360°. “Advisers devote countless hours and resources to client meetings and want customized solutions that streamline manual tasks. This team is at the forefront of what’s possible with Gen AI, and they’ve created software that will meaningfully improve advisers’ ability to serve clients.”

Advisor360° will add Parrot AI’s robust notetaking capability to its product portfolio, eliminating post-meeting task creation and coordination. The application’s secure meeting transcription will generate actions in Advisor360°’s CRM that, once approved by advisers, will trigger automated workflows across its core applications, including account opening, trading, and planning tools.

“We’re excited to be part of the Advisor360° team as they introduce generative AI functionality tailored for advisers,” said Morville, who will serve as product architect. “Advisor360° is already at the forefront of innovation in the industry, and we look forward to utilizing our expertise to expand their suite of AI-driven offerings.”

The company is headquartered in Weston, Mass., with offices in Bengaluru, India; and remote workforces in Canada and Northern Ireland.

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