Is There a Role for AI in Financial Services?
It’s hard to ignore. Wherever we turn, AI (Artificial Intelligence) is in our faces whether it is taking headlines in the news, using algorithms to make recommendations based off shopping or search history, correcting grammar in digital communications, tracking our sleep and/or fitness patterns, and one that I find particularly entertaining, notifying us through home security cameras as to what may be in walking through our backyards. (I apparently had a black sheep in my backyard one day … nope, just our dog).
This increase in AI’s presence has created polarizing opinions on the technologies. Some are excited about the possibilities it presents and see opportunities for it to increase efficiency and productivity. Others are skeptical about its accuracy, security, and alignment with users’ interests. As AI continues to mature and become more prevalent in many industries, we as financial advisors want to make sure we are not being left behind with advances in technology; however, more importantly, it is integral for us to put our clients’ privacy and best interests first and ensure we are maintaining compliance.
Recent industry discussions have highlighted an interesting trend. Many consumers are not necessarily opposed to AI being used by their financial advisor. What concerns them is discovering that AI was involved without their knowledge. Disclosure is key. According to the Janus Henderson 2026 Perspectives on AI survey conducted on 1,000 U.S. investors, 79% of the surveyed clients said they would be upset if their advisor used AI and didn’t mention it to them.
We are very attuned to the fact that our clients value honesty and transparency, and we know that by leading with those values, trust is built and thrives. As the study indicated, clients want to understand how their advisor works, what tools are being used, and how decisions are being made on their behalf. We feel it is part of our ongoing duty as fiduciaries to act with care and to maintain trust to disclose how we are using currently using AI.
How We Use AI
At Meridian, AI is not used to replace investment decisions, professional judgment, client service, or our advisors, period.
Instead, our use of AI is currently limited to administrative and efficiency-focused tasks, mainly assisting with notetaking during meetings and summarizing meeting details where we feel it is appropriate. This AI notetaker is never utilized without notifying and receiving consent from the client. This tool allows us to integrate with our CRM system and can assist us in a few areas such as:
- Preparing for client meetings by helping organize information and identify discussion topics.
- Assisting with meeting notes and summaries so that important details are accurately documented and follow-up items can be addressed promptly.
These tools help us spend less time on administrative work and more time focused on what matters most: hearing what our clients are really saying, connecting on a deeper level, understanding their goals, answering questions, and providing personalized advice.
What AI Does Not Do
While AI can be a useful tool, it is not a substitute for experience, judgment, and it doesn’t replace our fiduciary responsibility. Every recommendation we provide, every planning strategy we discuss, and every investment decision we help evaluate remains subject to human review and professional oversight.
Technology can improve efficiency. It cannot replace the responsibility we have to act in our clients’ best interests.
Protecting Your Information
Whenever financial professionals use technology, privacy, security, and accuracy must remain top priorities. Before using any technology solution, we evaluate whether it is appropriate for our business and whether it supports our obligations to protect client information. We also recognize that AI systems, like any technology, have limitations and risks that require ongoing oversight.
We believe that any use of AI should be accompanied by thoughtful safeguards, strong privacy practices, and human review. Useful guidelines, such as the CFP® Board’s Generative AI Ethics Guide, provide fiduciaries and financial planners with continuing resources and checklists to provide a minimum bar of standards and best practices for our industry.
Source: CFP Board of Standards. (2025). CFP Board Ethics and Generative AI Checklist: A Checklist for Upholding the Code and Standards. CFP Board Center for Financial Planning. All rights reserved.
The Future of AI in Financial Advice
The conversation around AI is changing rapidly. A year ago, many professionals felt the need to apologize for using AI at all. Today, the discussion is shifting toward how AI can be used responsibly and transparently to improve client experience and to create efficiencies.
We expect AI tools to continue evolving, and the financial services industry will likely continue exploring ways to use them more effectively. At the same time, we believe clients should know when technology is being used and understand the role it plays.
Our philosophy is simple: technology should enhance the advisor-client relationship, not replace it.
Our Commitment
As an independent, fee-only advisory firm, our responsibility is to provide thoughtful guidance that reflects your unique circumstances and goals.
If we use technology that helps us serve you more efficiently, we believe you deserve to know about it. And if we ever expand our use of AI beyond administrative functions, we will continue to evaluate those tools carefully and communicate openly about how they are used.
At the end of the day, financial planning remains a human profession. Technology can help us work smarter, but trust, judgment, and personal relationships remain at the center of everything we do.
I can attest this is not AI generated. A bit of
Trust being generated at our last team event!
No Meridian team members were harmed in
the taking of this photo. 😊
Thanks for the info! I had AI read it to me!
Thank you for sharing and your continued support!