Are AI Notetakers like otter compliant for Financial Services?

A Look into the Future of Transcription in Our Industry

Over several years, I’ve been using Otter.ai in conjunction with Zoom as a reliable AI Notetaker and transcription tool. Otter has served as an effective precursor to leveraging my three go-to AI applications—ChatGPT for writing, Claude for planning, and Perplexity for research. This layered approach has allowed me to streamline everything from coaching sessions to hiring interviews and leadership debriefings.

Given the efficiency gains, I’ve consistently recommended Otter to my financial advisor clients. However, a common and important question always follows:

“Is Otter a compliant AI notetaker for financial services?”

When my clients check with their Broker-Dealer or Compliance Department, the answer typically is: “We’re working with an AI notetaker that will soon be compliant.” The implication? Otter, while powerful, may not yet meet the strict compliance standards many financial services firms are required to follow.

So What Are the Compliant AI Notetaker Alternatives?

In the past few months, clients have been starting to use Compliant AI Notetaker solutions like Jump AI and Zocks, which are part of a new generation of AI notetakers built specifically with financial services compliance in mind.

To make sure I’m up to date, I recently used Perplexity to research a broader range of options. 

Here’s a summary of compliant AI notetakers tailored for financial advisors:

These options emphasize encryption standards (like AES-256), CRM integration (especially with Redtail and Wealthbox), and transparency around data usage—critical for firms following CFP confidentiality and regulatory obligations.

“Don’t Deal with a Lot of Details—Put the Details in Writing”

This phrase stood out in a recent debrief I conducted with a client and their team as part of reviewing their Values and Behaviors Assessments. It encapsulates one of the strongest use cases for compliant AI notetakers: they help reduce cognitive overload and support clearer communication.

As I head into another leadership debriefing meeting today, I’ll be using Otter during our Zoom call to help me compile follow-up notes. At the same time, I’ll be checking in with my client to ask:

“Are you consistently using an AI notetaker during meetings—with both your clients and your team?”

The reason is simple: notetakers foster presence and spaciousness. When the pressure to capture every detail is lifted, team members can engage more meaningfully in conversations—leading to better decisions, relationships, and outcomes.

Final Thoughts

While Otter remains a strong tool, the emergence of financial-services-specific solutions like FinMate, Jump AI, and Zocks reflects a growing demand for secure, compliant, and integrated transcription platforms. If you’re not already using a compliant notetaker in your practice, now’s the time to explore one that aligns with your firm’s regulatory standards and technological ecosystem.