FinPerMA: A Theory-Informed, Event-Grounded Personalized-Memory Benchmark for LLM Agents
Authors: Ben Wang, Kang Zhou, Lifan Guo, Feng Chen, Chi Zhang
Abstract
Large language model (LLM) agents are increasingly used as personalized assistants in high-stakes domains such as financial advising, yet it remains unclear whether they can maintain and update an individualized user model over long horizons. Existing personalized-memory benchmarks primarily test factual retention or rely on weakly constrained model-generated trajectories, leaving event-driven preference adaptation underexplored. We introduce FinPerMA, an event-grounded benchmark that evaluates personalized memory against frozen longitudinal investor trajectories. Its generation pipeline combines deterministic, theory-informed impact rules, controlled LLM narration, and automated quality screening; a Post-Shock checkpoint isolates whether an agent has integrated a material event into its persistent user model. On 2,994 questions from 276 personas, seven frontier LLMs and up to seven memory configurations remain far from saturated: no full-context configuration exceeds approximately 0.47 overall accuracy or approximately 39% on multiple-choice questions. Attribution analysis shows that summary-based memory often preserves factual details while losing the preference signals needed for personalization; simple retrieval can therefore outperform purpose-built memory systems, with the gap widening after shocks.
Existing large language model (LLM) based memory systems apply universal, static policies that overlook a fundamental reality: the contexts that are worth storing in memory are different across users. This misalignment wastes limited memory budget on transient interactions while failing to preserve critical context for long horizon tasks. To address this gap, we investigate an underexplored question: can LLM based memory systems learn personalized memory policies? We introduce PerMemBench, the first benchmark for evaluating personalized memory systems, featuring multi year, multi domain interaction histories across diverse user personas. We further present the first empirical study of memory personalization, proposing session level storage gating, a lightweight framework that selectively bypasses memory operations for transient sessions. Our study confirms that personalization yields substantial retention gains under perfect gating, yet reveals that accurate gating remains an open and critical challenge.
As large language model (LLM) agents evolve into personalized companions, memory has emerged as a core capability. However, LLMs face a knowledge utilization problem: they may fail to act on relevant user preferences even when they are fully present in context. When an agent fails to tailor its response in a context where previously shared user preferences should matter, it is unclear whether the model failed to remember that information or remembered it but failed to use it. To isolate this breakdown, we introduce a decoupled evaluation paradigm that administers paired Know and Act tests to the same user preference. We conduct large-scale experiments across 16 systems and five memory architectures, evaluating 1,000 preferences embedded at three levels of expression strength. Our results show a large gap between Know and Act outcomes: agents often pass the recall test for a user preference but fail to reflect that same preference in the paired behavioral scenario. While memory architectures reduce this gap, utilization remains especially weak for health and therapy-related preferences, where failures to act carry the greatest real-world stakes.
Long-term memory systems allow LLM agents to preserve information beyond a single context window, but most systems focus on storing and retrieving facts after extraction, leaving the write decision under-specified. What deserves memory can depend on the user's current task, topic, activity, or interaction partner, while uniform extraction applies one notion of importance across these different situations. We formulate this challenge as preference-conditioned write control and introduce AdaMem, which uses adaptive natural-language Memory Policies to personalize what an agent writes to memory. Each policy represents the user's memory preference for a particular interaction context, is updated from periodic feedback, and controls subsequent memory writing. We evaluate this loop in AdaMem-Bench, which assigns different memory preferences to six concurrent interaction personas across five ten-week stories. Across two extraction models and two feedback modes, AdaMem improves average QA accuracy over Mem0 from 80.0% to 84.35% while reducing persistent memory by 9.27%. Our analyses show that explicit feedback helps models learn better memory policies, but current models still struggle to translate those policies into reliably selective writing behavior. AdaMem thus demonstrates the promise of adaptive write control while exposing policy execution as a central limitation of current memory agents. Our code is publicly available: https://github.com/galaxyChen/AdaMem