The FCA has called for clearer, proportionate and consistent disclaimers where general-purpose AI tools generate financial information or apparent advice. Its wider message is that firms using AI need human oversight, clear accountability, resilient controls and contingency plans when technology fails.
For mortgage and financial advisers, AI can support research, meeting preparation, CRM administration and customer communications, but it should not be allowed to present unverified output as personalised regulated advice. Firms should review client-facing AI journeys, record where human review occurs and make the limits of AI-generated content unmistakable.
- Use approved wording for AI-assisted content.
- Maintain adviser sign-off for personalised recommendations.
- Test outputs for inaccurate rates, criteria and affordability assumptions.