First State Financial Management (FSFM), the wealth management subsidiary of First State Community Bank, has chosen Mili as its artificial intelligence platform. FSFM advisors serve individuals, families, and businesses across Missouri, often maintaining multi-generational client relationships.
Deployment Across Advisors
The wealth management arm of First State Community Bank, a $4.5 billion Missouri bank, is deploying Mili across its advisor team, which serves more than 50 locations statewide.
Bridging the Technology Gap
While large wealth management firms have moved AI advisor tools from pilots to full rollouts using billion-dollar technology budgets, community banks have historically operated with limited technology. Community banks are the only physical banking presence in roughly one in five American counties, and their advisory programs have long lacked the advanced tools available to national firms.
How Mili Works for Advisors
FSFM advisors use Mili throughout client meetings: preparation from the firm's records, real-time note-taking across in-person, phone, and virtual conversations without recordings or bots, updates to the firm's CRM, and follow-ups drafted in each advisor's voice. Every document produced by Mili includes the firm's own disclosures.
Neil Bales, President of First State Financial Management, stated: "Our advisors have spent their careers earning trust in the communities we serve, and everything that used to pull them away from clients now runs quietly in the background. I find myself talking about Mili with everyone we meet. FSFM can be a model for how community bank-based advisors grow and scale, and this partnership is part of how we get there."
Chirag Gandhi, Co-Founder and CEO of Mili, added: "Every few months, another of the country's largest banks announces the AI it built for its advisors, with billions in technology budget behind it. The advisor at a community bank carries the same workload with none of the same backing. This is the first generation of technology that reaches both at the same time. The firms that hold the deepest client relationships in American finance now work with the same intelligence as the firms with the deepest pockets, and wealth management will be reshaped by what they do with it."
Future Integrations
FSFM and Mili are extending the platform into automated form processing, including annuity paperwork, required minimum distribution workflows, and deeper integrations with the firm's planning and portfolio systems.
About First State Financial Management
First State Financial Management has provided financial planning, investment management, and estate and legacy planning for more than 40 years. It is the wealth management subsidiary of First State Community Bank, founded in 1954 and headquartered in Farmington, Missouri. Securities and Investment Advisory services are offered through NBC Securities, Inc., Member FINRA and SIPC. Investment products are not FDIC insured, are not guaranteed by any bank, and may lose value. Learn more at fscb.com/finance.
