Financial agents are expected to answer factual investment queries through open search, but financial multi-hop retrieval differs from general multi-hop QA in a crucial way: each intermediate answer is an exact typed constraint, such as an entity, date, event, or numerical indicator, that determines the next query. This strict answer-conditioned dependency makes small intermediate errors cascade into plausible but wrong search trajectories. We introduce FinHopper, a benchmark for complex financial agents with controlled reasoning depth from 1 to 6 hops, covering stocks, funds, and macroeconomic facts, with gold intermediate answers for process-level evaluation. To construct FinHopper at scale, we design a state-transition-based synthesis framework that composes verified atomic financial QA patterns into dependency-preserving chains, followed by targeted in-synthesis verification, model-ensemble checking, and public-search validation by financial experts. Experiments with 20 LLM-agent configurations show that public search tools are necessary but insufficient: performance drops sharply as hop depth increases, the best model remains far below human experts, and process-aware scoring reveals partial reasoning progress hidden by final-answer-only evaluation. The benchmark is available at https://anonymous.4open.science/r/FinHopper-aabb/

Large language model (LLM)-enhanced sequential recommendation typically aims to improve two core components: user semantic embedding extraction and utilization. Despite promising results, existing methods still have two limitations: 1) In the extraction stage, most methods directly input long interaction sequence fragments into LLM for preference summarization. However, excessively long sequences increase inference difficulty, making it challenging to infer accurate user embeddings reliably. 2) In the utilization stage, most methods employ the same semantic embedding utilization strategy for all users, neglecting the differences caused by user activity levels, leading to suboptimal performance. To address these issues, we propose HSUGA, which introduces a simple yet effective plugin for each of the two core components: Hierarchical Semantic Understanding (HSU) and Group-Aware Alignment (GAA). HSU performs a staged two-phase preference mining and models preference evolution through constrained editing operations, thereby improving the reliability of user semantic extraction. GAA adjusts the semantic utilization intensity based on user activity levels, providing weaker alignment for active users and stronger guidance for users with sparse historical data. Finally, extensive experiments on three benchmark datasets demonstrate the effectiveness and compatibility of HSUGA.

Contemporary progress in Large Language Models (LLMs) has revealed notable inferential capacities via reinforcement learning (RL) employing verifiable rewards. However, “zero-RL” approaches relying on fixed prompt templates introduce substantial sampling inefficiencies for weak LLMs, as most problems generate invalid outputs during accuracy-driven filtration. To solve this, we propose Cog-Rethinker, a novel hierarchical metacognitive RL framework. Cog-Rethinker enhances the rollout procedure by improving sample utilization through a two-stage framework leveraging human cognition. First, it prompts the policy to decompose zero-accuracy problems into subproblems. Second, it prompts the policy to refine answers by referencing previous wrong solutions. Moreover, to enable cold-starts and maintain train-test consistency, Cog-Rethinker applies supervised fine-tuning using correct samples from these stages. Experimental results demonstrate Cog-Rethinker’s superior performance on mathematical reasoning benchmarks and its improved sample efficiency that accelerates convergence compared to baselines.