# FinSearchComp: Towards a Realistic, Expert-Level Evaluation of Financial Search and Reasoning

arXiv: https://arxiv.org/abs/2509.13160 · HTML: https://mlsanity.com/paper/2509.13160/

## Key facts

- Cited by 27 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 14 of its 27 references that are in the map.
- First posted on arXiv 16 Sep 2025.

## Placed in

- LLM reasoning / [Reasoning for agents, planning and code](https://mlsanity.com/lr/reasoning-for-agents-planning-and-code/)
- LLM agents and tool use / [Financial trading and forecasting agents](https://mlsanity.com/agents/financial-trading-and-forecasting-agents/)

## Builds on (most cited first, 14 of 14)

- [DeepSeek-R1: Incentivizing Reasoning Capability in LLMs via Reinforcement Learning](https://mlsanity.com/paper/2501.12948/) (2025)
- [BrowseComp: A Simple Yet Challenging Benchmark for Browsing Agents](https://mlsanity.com/paper/2504.12516/) (2025)
- [BrowseComp-Plus: A More Fair and Transparent Evaluation Benchmark of Deep-Research Agent](https://mlsanity.com/paper/2508.06600/) (2025)
- [BrowseComp-ZH: Benchmarking Web Browsing Ability of Large Language Models in Chinese](https://mlsanity.com/paper/2504.19314/) (2025)
- [A Survey of Large Language Models for Financial Applications: Progress, Prospects and Challenges](https://mlsanity.com/paper/2406.11903/) (2024)
- [Finance Agent Benchmark: Benchmarking LLMs on Real-world Financial Research Tasks](https://mlsanity.com/paper/2508.00828/) (2025)
- [Large Language Model Agent in Financial Trading: A Survey](https://mlsanity.com/paper/2408.06361/) (2024)
- [FinRobot: An Open-Source AI Agent Platform for Financial Applications using Large Language Models](https://mlsanity.com/paper/2405.14767/) (2024)
- [OptimalThinkingBench: Evaluating Over and Underthinking in LLMs](https://mlsanity.com/paper/2508.13141/) (2025)
- [BizFinBench: A Business-Driven Real-World Financial Benchmark for Evaluating LLMs](https://mlsanity.com/paper/2505.19457/) (2025)
- [FinanceQA: A Benchmark for Evaluating Financial Analysis Capabilities of Large Language Models](https://mlsanity.com/paper/2501.18062/) (2025)
- [MultiFinBen: Benchmarking Large Language Models for Multilingual and Multimodal Financial Application](https://mlsanity.com/paper/2506.14028/) (2025)
- [A Survey on Table-and-Text HybridQA: Concepts, Methods, Challenges and Future Directions](https://mlsanity.com/paper/2212.13465/) (2022)
- [From Scores to Skills: A Cognitive Diagnosis Framework for Evaluating Financial Large Language Models](https://mlsanity.com/paper/2508.13491/) (2025)

## Built on by (most cited first, 27 of 27)

- [Kimi K2.5: Visual Agentic Intelligence](https://mlsanity.com/paper/2602.02276/) (2026)
- [Seed1.8 Model Card: Towards Generalized Real-World Agency](https://mlsanity.com/paper/2603.20633/) (2026)
- [StockBench: Can LLM Agents Trade Stocks Profitably In Real-world Markets?](https://mlsanity.com/paper/2510.02209/) (2025)
- [MiroThinker-1.7 & H1: Towards Heavy-Duty Research Agents via Verification](https://mlsanity.com/paper/2603.15726/) (2026)
- [Mitigating LLM Hallucination via Behaviorally Calibrated Reinforcement Learning](https://mlsanity.com/paper/2512.19920/) (2025)
- [FinDeepResearch: Evaluating Deep Research Agents in Rigorous Financial Analysis](https://mlsanity.com/paper/2510.13936/) (2025)
- [LiveTradeBench: Seeking Real-World Alpha with Large Language Models](https://mlsanity.com/paper/2511.03628/) (2025)
- [DIVE: Scaling Diversity in Agentic Task Synthesis for Generalizable Tool Use](https://mlsanity.com/paper/2603.11076/) (2026)
- [Towards Safe Reasoning in Large Reasoning Models via Corrective Intervention](https://mlsanity.com/paper/2509.24393/) (2025)
- [QUEST: Training Frontier Deep Research Agents with Fully Synthetic Tasks](https://mlsanity.com/paper/2605.24218/) (2026)
- [Finch: Benchmarking Finance & Accounting across Spreadsheet-Centric Enterprise Workflows](https://mlsanity.com/paper/2512.13168/) (2025)
- [FutureX-Pro: Extending Future Prediction to High-Value Vertical Domains](https://mlsanity.com/paper/2601.12259/) (2026)
- [EcomBench: Towards Holistic Evaluation of Foundation Agents in E-commerce](https://mlsanity.com/paper/2512.08868/) (2025)
- [HSCodeComp: A Realistic and Expert-level Benchmark for Deep Search Agents in Hierarchical Rule Application](https://mlsanity.com/paper/2510.19631/) (2025)
- [Yunjue Agent Tech Report: A Fully Reproducible, Zero-Start In-Situ Self-Evolving Agent System for Open-Ended Tasks](https://mlsanity.com/paper/2601.18226/) (2026)
- [FIRE: A Comprehensive Benchmark for Financial Intelligence and Reasoning Evaluation](https://mlsanity.com/paper/2602.22273/) (2026)
- [FinResearchBench II: A Deep Research Benchmark with Consensus-Derived Gold Rubrics for Distinguishing Financial Report Quality](https://mlsanity.com/paper/2607.12252/) (2026)
- [FinTrace: Holistic Trajectory-Level Evaluation of LLM Tool Calling for Long-Horizon Financial Tasks](https://mlsanity.com/paper/2604.10015/) (2026)
- [Mind2Report: Expert-Level Commercial Report Synthesis via Cognitive Deep Research Agent](https://mlsanity.com/paper/2601.04879/) (2026)
- [JADE: Expert-Grounded Dynamic Evaluation for Open-Ended Professional Tasks](https://mlsanity.com/paper/2602.06486/) (2026)
- [PriceSeer: Evaluating Large Language Models in Real-Time Stock Prediction](https://mlsanity.com/paper/2601.06088/) (2025)
- [FinDeepIndicator: Benchmarking Deep Research Agents in End-to-End Financial Indicator Construction](https://mlsanity.com/paper/2608.00764/) (2026)
- [Frontier Financial Judgement: Can agents tell what might move a stock?](https://mlsanity.com/paper/2607.20645/) (2026)
- [Mint-Agent: Introducing Finance-Native Agentic Foundation Models](https://mlsanity.com/paper/2608.16386/) (2026)
- [RetailAgent: Structured Adverse Timing in Self-Conditioned Multimodal LLM Trading Agents](https://mlsanity.com/paper/2608.28399/) (2026)
- [FinAutoRubric: Expert-Guided Automatic Rubric Generation for Evaluating Financial Research Agents](https://mlsanity.com/paper/2609.35744/) (2026)
- [TrajLong: Co-Designing Agentic and Long-Context Supervision for Mid-Training](https://mlsanity.com/paper/2610.04973/) (2026)

## Abstract (arXiv)

Search has emerged as core infrastructure for LLM-based agents and is widely viewed as critical on the path toward more general intelligence. Finance is a particularly demanding proving ground: analysts routinely conduct complex, multi-step searches over time-sensitive, domain-specific data, making it ideal for assessing both search proficiency and knowledge-grounded reasoning. Yet no existing open financial datasets evaluate data searching capability of end-to-end agents, largely because constructing realistic, complicated tasks requires deep financial expertise and time-sensitive data is hard to evaluate. We present FinSearchComp, the first fully open-source agent benchmark for realistic, open-domain financial search and reasoning. FinSearchComp comprises three tasks -- Time-Sensitive Data Fetching, Simple Historical Lookup, and Complex Historical Investigation -- closely reproduce real-world financial analyst workflows. To ensure difficulty and reliability, we engage 70 professional financial experts for annotation and implement a rigorous multi-stage quality-assurance pipeline. The benchmark includes 635 questions spanning global and Greater China markets, and we evaluate 21 models (products) on it. Grok 4 (web) tops the global subset, approaching expert-level accuracy. DouBao (web) leads on the Greater China subset. Experimental analyses show that equipping agents with web search and financial plugins substantially improves results on FinSearchComp, and the country origin of models and tools impact performance significantly.By aligning with realistic analyst tasks and providing end-to-end evaluation, FinSearchComp offers a professional, high-difficulty testbed for complex financial search and reasoning.