AI Tools That Help Advisors Summarize Legal Documents

When you don’t have time to review and summarize a legal document, artificial intelligence can do the heavy lifting for you. Advisors may turn to AI to summarize legal documents into a scannable, more accessible format. AI summary tools scan digital versions of documents, and condense them down so they’re easily readable. These tools rely on machine learning and natural language processing (NLP) to scan content, extract the most essential information and generate a summary in seconds.

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AI Tools for Legal Document Summary: Options for Financial Advisors

More advisors are relying on AI to complete administrative tasks, and 85% of financial professionals say generative AI is a “help” to their practice, according to Advisor360’s 2025 Connected Wealth Report. ¹ Document summary is just one of the ways that you might put AI to work for your firm.

Legal summary tools may be general purpose or industry-specific. We’ve curated a list of AI legal summary tools for financial advisors to help you understand your options.

These are not recommendations, and this is not an exhaustive list. It’s advisable to do your own research to find an AI legal summary tool that’s best suited to the needs of your firm.

1. FP Alpha

FP Alpha is an AI-driven technology that’s designed to fill gaps that may exist in your retirement or financial planning software. ² This tool is equipped to “read” your clients’ important documents and summarize the most important points. FP Alpha can assist with summarizing:

• Tax returns
• Wills
• Trusts
• Insurance policies

With FP Alpha, you can establish an overhead view of your clients’ tax picture and estate plan in a fraction of the time. This software tool is designed to give advisors the most pertinent information they need to develop actionable financial planning strategies for their clients.

FP Alpha integrates with several customer relationship management (CRM) platforms favored by advisors, including Wealthbox, Salesforce and Redtail. Advisors are paired with a dedicated success resource for seamless onboarding.

If you’d like to book a demo, you can schedule one through the FP Alpha website.

2. Workiva

Workiva relies on both generative and agentic AI to provide multi-channel solutions for advisors who want to simplify financial reporting. ³ From document summaries to legal and compliance reporting, Workiva helps advisors and wealth managers run their businesses more efficiently.

With Workiva Intelligent Companion, documents and other content can easily be summarized by entering a prompt. You can use auto-generated prompts or create your own, which enables the Intelligent Companion tool to better understand the context of the document it’s summarizing. Real-time collaboration allows for streamlined document sharing, so every member of your team is on the same page.

Workiva is compatible with a variety of document types and formats, including SEC filing forms, Word documents and PDFs. You can schedule a demo online to test out the platform’s full range of capabilities.

3. LegalZoom Doc Assist

Doc Assist uses AI to summarize legal documents, including contracts that are established in the U.S. ⁴ This tool focuses on English-language contracts that small businesses are most likely to use or encounter, such as:

• Employment agreements
• Non-disclosure agreements
• Regulatory filings
• Internal policies
• Legal filings

LegalZoom offers Doc Assist for free, which sets it apart from other AI tools that summarize legal documents for advisors in exchange for a subscription or one-time fee. In its current phase of development, the service works only with text-based documents that are less than 5MB in size. If you have larger files to summarize, you may need to consider a paid AI summary tool instead.

4. Zocks

Zocks is an AI assistant for financial advisors that helps with a variety of tasks, from note-taking to meeting prep to email marketing. ⁵ The Document Intelligence feature enables advisors to extract data from client documents and generate summaries in seconds, potentially saving you hours each day.

The types of documents Zocks can summarize include:

• Brokerage statements
• Estate plans
• Client intake forms
• Risk tolerance profiles

Any format is accepted, including PDFs and images. Zocks reads your document to determine the file type, then creates a structured summary in less than one minute. You can sync data extracted by Zocks with your CRM and financial planning software with the click of a button. There’s also a search feature to help you find information in any document, instantly.

Zocks offers both a demo and a free trial period. You can explore either option on the platform’s website.

5. ChatGPT (or ChatGPT-Based Tools)

ChatGPT has many uses for advisors, from generating ideas for social media or blog content to summarizing legal documents. ⁶ If you have a document you’d like ChatGPT to summarize, you can upload your file or paste it directly into the chat box for near-instant results.

This AI tool is free to use; however, there are some significant limitations. ChatGPT may use the data or documents you share to train its model, so it’s best to avoid submitting any documents with sensitive information. Otherwise, you risk your clients’ privacy and security, as well as your firm’s compliance status.

Keep in mind that other AI tools that summarize legal documents may also use ChatGPT. Spellbook, for example, uses ChatGPT5 to review and suggest language for legal contracts and documents.

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How to Choose an AI Legal Summary Tool for Advisors

Using AI tools to summarize legal or financial documents can save valuable time, leaving you free to focus on priority tasks. Many AI tools offer a cost-effective solution for what would otherwise be a tedious and labor-intensive process. AI may reduce inaccuracies attributed to human error, though it’s important to remember that these tools are only as reliable as the data they’re trained on and the prompts they’re fed.

With that in mind, research is vital for choosing an AI legal document summary tool for your business. As you compare options, ask these questions:

• What kind of reputation does a particular tool have for data accuracy?
• Is the tool primarily used to generate document summaries, or does it include other features that may help you run your business more efficiently?
• How is the tool priced? Is it free to use, or does it require a monthly or annual subscription?
• How easy is the tool to use? Will you be paired with an onboarding support specialist to help you learn how to use it?
• What level of customization does the tool offer?
• Which software programs, applications, or platforms does the tool integrate with?
• How are security and data privacy handled? Will the tool use the data or documents you input to train its model?

For any tool you’re considering, it’s wise to schedule a demo or trial if one is available. You can explore the features and get a feel for how the tool works beforehand to decide if it’s worth the investment, if there’s a fee attached. You may also talk to other advisors in your network who use AI summary tools to learn which ones they prefer.

Bottom Line

AI tools can simplify legal document summary for financial advisors, though some tools may serve your needs better than others. If you’re not using AI in your practice yet, consider where you might put it to work to save time, increase productivity or enhance the client experience.

Tips for Growing Your Advisory Business

• If you’re looking for a fresh marketing channel to tap, consider how SmartAsset AMP can help you increase your visibility. SmartAsset AMP (Advisor Marketing Platform) is a holistic marketing service financial advisors can use for client lead generation and automated marketing. Sign up for a free demo to explore how SmartAsset AMP can help you expand your practice’s marketing operation. Get started today.
• AI holds significant potential for advisors to scale. For example, you might use ChatGPT or other AI tools to expand your content marketing efforts through emails, social media content or blog posts. AI-generated content still requires a human touch to edit for accuracy and tone, but that may take far less time than it would to create content from scratch.

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