Mili

The product is a chain of model steps. AssemblyAI or Deepgram transcribes the meeting as it happens, and language models from OpenAI, Anthropic and Google turn the transcript into notes against the firm's own templates. A suite of agents then carries the result into scheduling, onboarding forms, CRM updates, prospect research, marketing and document extraction.

The Documents agent pulls income and deductions from tax returns and balances from statements, and the Compliance agent drafts examination ready client file reports. There is no calculation engine or proprietary data asset underneath, and the integrations move what the models produce. Without the models there is nothing left for a firm to buy. The meeting agent is still the entry point, and the agent suite launched as Mili Office in February 2026 turned it from a notetaker into a workflow product.

Mili's terms of service, updated 6 October 2026, put a review step in front of every outside action. Output is presented for review and is not synchronized to a connected system or sent to any recipient until an authorized user takes that action. The privacy policy repeats this for notes, summaries, drafted emails and extracted data. The step covers a wide reach.

The agents update CRM records, fill eMoney and onboarding forms, prepare ACAT transfer and new account paperwork, schedule meetings and, through TradePMR, can open accounts and create trades. Firms set capture mode, redaction categories, consent workflows and retention themselves. Access, configuration changes, integration activity and consent events are logged and kept for seven years. Nothing published describes per agent permissions an administrator can restrict.

Transcription, notes, extraction and form filling carry no published accuracy figure, benchmark or validation method. The terms describe the failure mode directly: output may be incomplete or inaccurate, including by attributing content that was not said or omitting content that was, and advisers must review it before relying on it. Braintrust is listed for model evaluation and tracing, so evaluation tooling is in place, with no results shared.

The published figures measure time, such as 15 to 30 minutes saved per meeting and more than 30 hours a month returned. Live agenda tracking during the call shows which planned topics have been covered. With audio capture off, the default, there is no recording to check a disputed note against.

In the T3/Inside Information 2026 Software Survey, which Bob Veres and Joel Bruckenstein produced from 2,906 advisory firm responses, Mili had the highest user rating of the fourteen AI notetakers tracked. Its rating was 8.69, it received the survey's Mighty Mite designation, and Mili says it did not sponsor the survey. That rating comes from a small user base, since Mili's market share in the same survey was 1.20 percent against 22.68 percent for Jump.

Named advisers give figures on Mili's site. Charles Dabrowski, Managing Partner, estimates 10 to 15 percent of his team's capacity freed, and Erich Schwerd, Investment Manager, describes three to four hours a night of note work removed. Andrew Evans, CEO, Andrew Hasz, Director of Advisor Technology, and John Woolley, Managing Director and Chief Investment Officer, describe agent driven paperwork and compliance approval. An adviser at SFMG Wealth Advisors reports recap emails falling from 20 to 30 minutes to 5.

Customer data is excluded from training in contract. It is not used to train or improve any AI model, Mili's or a third party's, and every subprocessor that handles it is bound in writing not to train on it. OpenAI, Anthropic, Google, AssemblyAI and Deepgram process it under zero data retention terms. Three tools keep content because the service needs it. Tiptap stores collaborative notes, and Portkey and Braintrust keep request logs and evaluation traces for up to 30 days.

Each firm's data is logically isolated. Audio capture is off by default, with real time deletion of audio after transcription available when a firm turns it on. On termination, data is exportable for 30 days and then deleted, with backups cleared on the standard cycle, and Mili can require any subprocessor to delete customer data at any time.

The privacy policy, updated 6 October 2026, separates account data, where Mili acts as controller, from customer data, which it processes only on the firm's instructions as a service provider. Mili does not sell or share personal information and does not use customer data for advertising or to train AI. Retention is set by the firm down to the object level, meeting content can be deleted on request, and supervision export to Global Relay lets a firm keep records in its own systems.

Firms choose categories of personal information to redact, such as Social Security and account numbers, so those details never reach summaries, forms or connected systems. Breach notice goes to affected firms within 72 hours. A client asking about their own data is directed to the firm, with Mili assisting. Google data follows Google's Limited Use rules, and Google Drive access is limited to files a user picks.

A SOC 2 Type II examination and ISO/IEC 27001:2022 certification are both named in Mili's privacy policy and on its security page. The SOC 2 report is available to customers and prospects under an NDA, and the ISO certificate, which covers the information security management system for the Mili platform, is available on request. Both sit in a Trust Vault at trust.getmili.ai. Annual third party penetration testing covers the application, APIs, cloud environment and external network.

Critical vulnerabilities carry a 24 hour remediation commitment, the business continuity plan is tested quarterly against a 15 minute recovery time objective, and access reviews run quarterly. Every user signs in with MFA, staff reach production systems over an encrypted VPN, and personnel pass background checks. The auditor and the certification body are not named.

As a software supplier, Mili holds no license or registration of its own, and its features are built around the obligations of the firms it serves. The terms say Mili supports books and records duties through configurable retention, archiving and supervision export to Global Relay, audit logging, consent capture and redaction. They also state that nothing in the service is a determination that a firm has met its regulatory obligations.

Consent tools include audible and on screen meeting notices and contact level consent history, and the terms note that some states require every participant's consent before a meeting is captured. The meeting agent flags fiduciary and suitability discussions for compliance staff, and the Compliance agent documents suitability rationale and drafts examination ready client file reports. No regulator, examination or supervisory program involving Mili itself is named.

Mili's Client Insights Engine tracks advisers on referrals, CRM updates, meetings and revenue pipeline, along with client satisfaction and retention across a practice, and how those measures are built is not described. The meeting agent also flags cross selling opportunities in client conversations.

No AI governance framework, named owner for model behavior or fairness testing is published, and nothing evaluates how well speech is understood across accents, speaking styles or audio conditions. With no recording kept by default, a note cannot be corrected against the audio. The controls Mili does describe are operational: firm level redaction, human review before any sync or send, and evaluation tooling from Braintrust.

Under the terms, updated 6 October 2026, the customer carries the risk of what Mili produces. The service is provided as is, with no warranty that output is accurate, complete or suitable, and Mili's liability is capped at the lesser of six months of fees or $1,000. Security incidents fall under that cap. The customer indemnifies Mili for its use of the service, its data and any failure to obtain capture consent, and Mili gives no indemnity in return.

Disputes go to arbitration under the AAA commercial rules in Wilmington, Delaware, with a class action waiver. The audit log and the review step record what was approved and by whom. No warranty, credit or remedy applies when an approved note or form turns out to be wrong.

Mili's subprocessor page, updated 8 October 2026, lists every provider that touches customer data and what each one handles. Language models come from OpenAI, Anthropic and Google Cloud, and speech to text from AssemblyAI and Deepgram, all under no retention terms. Thesys generates interfaces, and Parallel, Perplexity and Exa Search run web research. ConvertAPI, RapidAPI and E2B handle document conversion, people lookups and sandboxed code.

Recall.ai is listed for meeting capture, AWS and Tiptap for storage, and Portkey as the model gateway. Mili commits to update the page before adding a subprocessor that handles customer data, and sends change notices on request to its privacy address. Model versions, and which model runs which agent, are not stated.

Each connection on the integration page carries a line saying what it does and in which direction. Mili writes notes, tasks and client data back to Redtail, Wealthbox, Salesforce and Salesforce Financial Services Cloud, Practifi, Advyzon, Salentica Elements and Engage, XLR8, Zinnia SmartOffice, HubSpot and Dynamics 365.

Planning and portfolio data comes in from eMoney, Holistiplan and Black Diamond, and Mili can update client profiles, record life events and fill any eMoney form from a meeting. TradePMR is the custodian connection, where the page says advisers can open accounts and create trades from a meeting. Notes archive to Global Relay.

Calls are captured through RingCentral, Dialpad, 8x8, Five9 and Vonage, documents are read from Box, SharePoint, OneDrive, Egnyte, ShareFile and Notion, and Monday.com receives tasks and lead updates. No API reference or field mapping is published.

Hosting is Amazon Web Services in the United States. The security page places client data in the AWS North Virginia region, encrypted with AES-256 at rest and TLS 1.2 or above in transit, and describes a multi region AWS deployment for availability. The privacy policy confines the service to US customers. Engineering and support staff in India, employed by the affiliate MILIAI Technologies, may access customer data when needed, over an encrypted connection that is logged and reviewed.

Mili runs as a desktop app for Mac and Windows and as iOS and Android apps. IT teams can deploy the desktop app through an MDM and either allow automatic updates or push each release themselves. Isolation between firms is logical, and no single tenant or private deployment is offered.

Mili sells through a free start and a demo booking, and the site has no pricing page and shows no price. The terms of service, updated 6 October 2026, set out how billing works. New organizations get a 14 day free trial, plans are chosen at sign up or set in an order, and subscriptions renew automatically. Prices may change at any time, purchases are not refunded, and cancellation takes effect at the end of the paid term. The agent suite page also takes waitlist sign ups, and whether the agent suite is priced apart from the meeting agent is not stated.

Mili is built for advice firms in the United States, RIAs and broker dealers, with features aimed at advisers, planners, chief operating officers, chief compliance officers and client service associates. Its privacy policy limits the service to US customers, with data processed and stored in the US. The site names more than twenty advice firms as users, among them Prime Capital Financial, Robertson Stephens, International Assets Advisory, MACO Wealth Management and SFMG.

The T3/Inside Information 2026 Software Survey found Mili's use concentrated among the largest RIAs. Among firms managing more than $1 billion, its usage ran at more than twice the notetaker average. Phone system connections such as RingCentral and Five9 reach practices that work mainly by phone. Banks, insurers and asset managers are not addressed as buyers in their own right, and no market outside the US is served.