mlsanityData to 14 Oct 2026

Fin-R1: A Large Language Model for Financial Reasoning through Reinforcement Learning

arXiv 2503.16252 ↗First posted 20 Mar 2025cs.CLcited by 83

On the map: LLM reasoning → Reasoning for agents, planning and code

Abstract (arXiv)

In recent years, general-purpose large language models (LLMs) such as GPT, Gemini, Claude, and DeepSeek have advanced at an unprecedented pace. Despite these achievements, their application to finance remains challenging, due to fragmented data sources, intransparent reasoning processes, and weak transferability to business applications. In response, we introduce Fin-R1, a reasoning LLM designed for financial scenarios. With a compact size of 7 billion parameters, Fin-R1 reduces deployment costs while addressing the aforementioned challenges. Its development follows a two-stage pipeline. First, we construct Fin-R1-Data, a high-quality financial dataset consisting of 60,091 chain-of-thought (CoT) samples, distilled and filtered from multiple authoritative benchmarks to ensure consistency and reliability. Second, we train Fin-R1 using Fin-R1-Data through supervised fine-tuning (SFT), followed by reinforcement learning (RL). This stage substantially improves the model's ability to solve complex financial reasoning tasks, yielding outputs that are both accurate and interpretable. Despite its relatively small parameter scale, Fin-R1 achieves competitive empirical performance across established financial benchmarks and demonstrates practical utility in compliance checking and robo-advisory. Our code is publicly available at https://github.com/SUFE-AIFLM-Lab/Fin-R1, and has already attracted over 700 stars.

Key facts. Cited by 83 papers in the map (data through 14 Oct 2026). Placed in Reasoning for agents, planning and code, one of 17 directions in LLM reasoning. Builds on 55 of its 81 references that are in the map. First posted on arXiv 20 Mar 2025.

Builds on

55 of 81 references.

Closest ancestors · 3

Same direction, newest first

  1. 2025Fino1: On the Transferability of Reasoning-Enhanced LLMs and Reinforcement Learning to Finance12 Feb
  2. 2024FAMMA: A Benchmark for Financial Domain Multilingual Multimodal Question Answering6 Oct
  3. 2022ConvFinQA: Exploring the Chain of Numerical Reasoning in Conversational Finance Question Answering7 Oct

Other references · 52

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  1. 2017Deep reinforcement learning from human preferencescited by 3,912
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  17. 2024MinerU: An Open-Source Solution for Precise Document Content Extractioncited by 267
  18. 2024Is DPO Superior to PPO for LLM Alignment? A Comprehensive Studycited by 262
  19. 2024ReFT: Reasoning with Reinforced Fine-Tuningcited by 239
  20. 2023Secrets of RLHF in Large Language Models Part I: PPOcited by 229
  21. 2020Implementation Matters in Deep Policy Gradients: A Case Study on PPO and TRPOcited by 186
  22. 2023FinMem: A Performance-Enhanced LLM Trading Agent with Layered Memory and Character Designcited by 164
  23. 2024Marco-o1: Towards Open Reasoning Models for Open-Ended Solutionscited by 144
  24. 2024A Multimodal Foundation Agent for Financial Trading: Tool-Augmented, Diversified, and Generalistcited by 137
  25. 2025LLM Post-Training: A Deep Dive into Reasoning Large Language Modelscited by 135
  26. 2024FinCon: A Synthesized LLM Multi-Agent System with Conceptual Verbal Reinforcement for Enhanced Financial Decision Makingcited by 113
  27. 2021Exploring the Limits of Large Scale Pre-trainingcited by 104
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  29. 2023XuanYuan 2.0: A Large Chinese Financial Chat Model with Hundreds of Billions Parameterscited by 92
  30. 2023UniversalNER: Targeted Distillation from Large Language Models for Open Named Entity Recognitioncited by 72
  31. 2024Towards Analyzing and Understanding the Limitations of DPO: A Theoretical Perspectivecited by 69
  32. 2023DISC-FinLLM: A Chinese Financial Large Language Model based on Multiple Experts Fine-tuningcited by 64
  33. 2023BBT-Fin: Comprehensive Construction of Chinese Financial Domain Pre-trained Language Model, Corpus and Benchmarkcited by 60
  34. 2023Alpha-GPT: Human-AI Interactive Alpha Mining for Quantitative Investmentcited by 56
  35. 2023FinEval: A Chinese Financial Domain Knowledge Evaluation Benchmark for Large Language Modelscited by 52
  36. 2024AlphaFin: Benchmarking Financial Analysis with Retrieval-Augmented Stock-Chain Frameworkcited by 47
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  38. 2024QuantAgent: Seeking Holy Grail in Trading by Self-Improving Large Language Modelcited by 30

50 most cited of 52 All 52 (JSON)

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Cited by year (2026 to 14 Oct)

Citing papers per year: 2025: 46; 2026: 37.

83 papers.

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  1. 2025Video-R1: Reinforcing Video Reasoning in MLLMscited by 484
  2. 2025JudgeLRM: Large Reasoning Models as a Judgecited by 78
  3. 2025An Empirical Study on Reinforcement Learning for Reasoning-Search Interleaved LLM Agentscited by 46
  4. 2025Patho-R1: A Multimodal Reinforcement Learning-Based Pathology Expert Reasonercited by 40
  5. 2025The Avengers: A Simple Recipe for Uniting Smaller Language Models to Challenge Proprietary Giantscited by 38
  6. 2025QiMeng-CodeV-R1: Reasoning-Enhanced Verilog Generationcited by 35
  7. 2025OJBench: A Competition Level Code Benchmark For Large Language Modelscited by 26
  8. 2025DianJin-R1: Evaluating and Enhancing Financial Reasoning in Large Language Modelscited by 22
  9. 2025NeuroStrike: Neuron-Level Attacks on Aligned LLMscited by 22
  10. 2025SportR: A Benchmark for Multimodal Large Language Model Reasoning in Sportscited by 17
  11. 2025StepFun-Formalizer: Unlocking the Autoformalization Potential of LLMs through Knowledge-Reasoning Fusioncited by 16
  12. 2025FinChain: A Symbolic Benchmark for Verifiable Chain-of-Thought Financial Reasoningcited by 15
38 more
  1. 2025ComfyUI-R1: Exploring Reasoning Models for Workflow Generationcited by 15
  2. 2025Trading-R1: Financial Trading with LLM Reasoning via Reinforcement Learningcited by 15
  3. 2025MolReasoner: Toward Effective and Interpretable Reasoning for Molecular LLMscited by 12
  4. 2025Unilaw-R1: A Large Language Model for Legal Reasoning with Reinforcement Learning and Iterative Inferencecited by 12
  5. 2025AceSearcher: Bootstrapping Reasoning and Search for LLMs via Reinforced Self-Playcited by 10
  6. 2026Detecting LLM-Generated Text with Performance Guaranteescited by 10
  7. 2025MASS: Muli-agent simulation scaling for portfolio constructioncited by 9
  8. 2025ReasoningShield: Safety Detection over Reasoning Traces of Large Reasoning Modelscited by 9
  9. 2025How Far Are We from Optimal Reasoning Efficiency?cited by 8
  10. 2026Conformal Selective Acting: Anytime-Valid Risk Control for RLVR-Trained LLMscited by 8
  11. 2025Alpha-R1: Alpha Screening with LLM Reasoning via Reinforcement Learningcited by 7
  12. 2025Reasoning or Overthinking: Evaluating Large Language Models on Financial Sentiment Analysiscited by 6
  13. 2025Agentar-Fin-R1: Enhancing Financial Intelligence through Domain Expertise, Training Efficiency, and Advanced Reasoningcited by 6
  14. 2025Video-R4: Reinforcing Text-Rich Video Reasoning with Visual Ruminationcited by 6
  15. 2026MMEmb-R1: Reasoning-Enhanced Multimodal Embedding with Pair-Aware Selection and Adaptive Controlcited by 6
  16. 2026From Chatbot to Digital Colleague: The Paradigm Shift Toward Persistent Autonomous AIcited by 6
  17. 2025FinCoT: Grounding Chain-of-Thought in Expert Financial Reasoningcited by 5
  18. 2025Reasoning on Time-Series for Financial Technical Analysiscited by 5
  19. 2025DeepSport: A Multimodal Large Language Model for Comprehensive Sports Video Reasoning via Agentic Reinforcement Learningcited by 5
  20. 2025A Short Survey on Small Reasoning Models: Training, Inference, Applications and Research Directionscited by 4
  21. 2025FinKario: Event-Enhanced Automated Construction of Financial Knowledge Graphcited by 4
  22. 2025FinWorld: An All-in-One Open-Source Platform for End-to-End Financial AI Research and Deploymentcited by 4
  23. 2026Unlocking Data Value in Finance: A Study on Distillation and Difficulty-Aware Trainingcited by 4
  24. 2026QuantCode-Bench: A Benchmark for Evaluating the Ability of Large Language Models to Generate Executable Algorithmic Trading Strategiescited by 4
  25. 2026FinSTaR: Towards Financial Reasoning with Time Series Reasoning Modelscited by 4
  26. 2026FINESSE-Bench: A Hierarchical Benchmark Suite for Financial Domain Knowledge and Technical Analysis in Large Language Modelscited by 4
  27. 2025Reasoner for Real-World Event Detection: Scaling Reinforcement Learning via Adaptive Perplexity-Aware Sampling Strategycited by 3
  28. 2025R-Log: Incentivizing Log Analysis Capability in LLMs via Reasoning-based Reinforcement Learningcited by 3
  29. 2026Long-Document QA with Chain-of-Structured-Thought and Fine-Tuned SLMscited by 3
  30. 2026Kernelized Advantage Estimation: From Nonparametric Statistics to LLM Reasoningcited by 3
  31. 2025Reasoning Like an Economist: Post-Training on Economic Problems Induces Strategic Generalization in LLMscited by 2
  32. 2025FinLMM-R1: Enhancing Financial Reasoning in LMM through Scalable Data and Reward Designcited by 2
  33. 2025FinEval-KR: A Financial Domain Evaluation Framework for Large Language Models' Knowledge and Reasoningcited by 2
  34. 2025KnowMT-Bench: Benchmarking Knowledge-Intensive Long-Form Question Answering in Multi-Turn Dialoguescited by 2
  35. 2025Exploring Large Language Models for Financial Applications: Techniques, Performance, and Challenges with FinMAcited by 2
  36. 2025FISCAL: Financial Synthetic Claim-document Augmented Learning for Efficient Fact-Checkingcited by 2
  37. 2026Reinforcement Learning Enhanced Multi-hop Reasoning for Temporal Knowledge Question Answeringcited by 2
  38. 2026Mixing Expert Knowledge: Bring Human Thoughts Back To the Game of Gocited by 2

50 most cited of 83 All 83 (JSON)

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  4. 2025FinMR: A Knowledge-Intensive Multimodal Benchmark for Advanced Financial Reasoning
  5. 2025FinMME: Benchmark Dataset for Financial Multi-Modal Reasoning Evaluation
  6. 2026QuantEval: A Benchmark for Financial Quantitative Tasks in Large Language Models
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