The FCA has highlighted the growing use of general-purpose AI tools for financial information and advice, warning that consumers may not understand the limits of protection when they act on an AI-generated response. The regulator is calling for clear, proportionate and consistent disclaimers at the point AI-generated financial information is delivered.
This matters to mortgage and financial advisers using generative AI for website content, client communications, meeting notes or triage. AI may improve access and efficiency, but it should not obscure whether a customer is receiving regulated advice, generic information or an automated service. Consumer Duty, financial-promotion rules, data protection and record-keeping responsibilities still apply.
- Label AI-assisted content appropriately and ensure disclosures are prominent.
- Maintain adviser review and approval before personalised recommendations are sent.
- Test tools for inaccurate outputs, bias, privacy risks and poor vulnerability handling.