AI for financial advisers, wealth managers and mortgage brokers
We help advice firms use AI for the admin around the advice: chasing fact-finds and provider information, writing up client meetings, first drafts of suitability reports, annual review packs and mortgage case chasing. The AI drafts and organises. Advice, suitability and sign-off stay with your qualified people.
Advisers should be advising, not chasing
In most advice firms the advice is the smallest part of the file. Around it sit fact-finds, letters of authority, provider responses, research, suitability reports, review packs and case notes.
Paraplanners and administrators carry most of that load, and the Consumer Duty expects firms to monitor the outcomes clients get. The work is repetitive, follows your own templates and is quick to check: exactly what automation handles well.
We already work with a wealth management firm on AI. Our founder, Ross Owen, has been in IT since 2000, specialising in legal and professional services firms, and Alphabyte IT, our sister company, is a Microsoft Partner certified to Cyber Essentials.
How we handle client information
- No consumer AI. Client details never go into public chatbots.
- Business-grade AI under contract. We build with Anthropic’s Claude through its business service. It doesn’t train on your data, and it’s covered by a data processing agreement.
- In-house AI, coming soon. AI on our own hardware in Cardiff, for work where data shouldn’t leave the building.
- Advisers stay in charge. A qualified person reviews anything that goes to a client, provider or lender (human in the loop).
- Built around your systems. We work in your Microsoft 365 and alongside your back-office system, platforms and lender portals.
The admin around the advice
Fact-find and document chasing
Fact-find questions, ID, payslips and statements requested in your wording, chased on a schedule, then filed as they arrive.
Letters of authority
LOAs sent to each provider and chased until they answer. Plan details from the responses pulled into a summary for your paraplanner to check.
Meeting and review notes
Teams meetings and recorded calls turned into file notes in your template: attendees, objectives, what’s changed, what was agreed.
Suitability report first drafts
The adviser’s recommendation notes, the fact-find and your research drafted onto your approved template, with the file checked against your compliance checklist.
Annual review preparation
Clients invited on time and sent a “what’s changed?” questionnaire, packs prepared with valuations and last year’s actions, and every review logged.
Mortgage case progression
Lenders, solicitors and clients chased for what’s outstanding, plain-English updates drafted at each milestone, and clients reminded before their deal ends.
What the FCA expects when you use AI
The FCA has said it doesn’t plan to introduce extra regulations for AI. It relies on the rules firms already follow, including the Consumer Duty and the Senior Managers and Certification Regime, which stresses senior managers’ accountability.
Under COBS 9A, a firm advising through an automated or semi-automated system remains responsible for the suitability assessment. For MiFID investment advice, the suitability report must still cover the investment term, the client’s knowledge and experience, and their attitude to risk and capacity for loss.
For mortgage advice, MCOB 4.7A requires a record of the customer’s information and why the advice is suitable, kept for at least three years. In its December 2025 mortgage rules feedback, the FCA reported that respondents agreed qualified advisers should review and sign off AI-based recommendations. That’s how we build.
Recordings, records and personal data
- Call recording. SYSC 10A requires some firms, including MiFID optional exemption firms, to record calls and keep electronic communications about arranging or dealing in financial instruments, and to keep them for five years. Whether it applies depends on your permissions and business.
- Consumer Duty. Clients should understand what they’re given and get support that meets their needs; plain-English drafts and prompt updates help.
- Personal data. Financial details aren’t special category data under UK GDPR, though the ICO says they can still be sensitive. Health details for protection cases are special category data and need extra care.
- Breaches. A report emailed to the wrong client is likely to be a personal data breach, so a person checks drafts first.
This is a summary, not compliance advice: your compliance support or network has the final say.
How the standard pack fits an advice firm
Both Monthly AI Support plans include our standard pack. In an advice firm it maps onto work you already do.
- Meeting minutes: review and case meetings written up in your file-note template.
- Inbox assistant: the info@ or new-business mailbox sorted, provider and lender emails routed, and replies drafted for checking.
- Call summaries: client calls summarised into the client record and callbacks turned into tasks.
- Knowledge assistant: staff ask how your firm opens a new client file and get the answer from your own procedures.
- Staff onboarding: new starters get a welcome pack, videos customised to your firm and policy sign-offs.
- AI safe-use policy: agreed at set-up, so everyone knows which tools are approved.
Plan hours, four a month on Essentials (£459 + VAT) or eight on Growth (£859 + VAT), go on jobs specific to your firm, such as letters of authority. Unused hours roll over; the minimum term is 12 months. Suitability drafting is usually a single project: a fixed quote based on £145 + VAT an hour.
- 1Free auditUp to two hours with Ross
- 2Standard packMinutes, inbox, calls, knowledge assistant
- 3Plan hoursLetters of authority, review packs, case updates
- 4Single projectSuitability drafts on your templates
Questions advice firms ask us
Can AI write our suitability reports?
It can write a good first draft from the adviser’s notes, the fact-find and your approved template, flagging gaps rather than filling them. It can’t make the recommendation. Your firm stays responsible for suitability, so the adviser edits every draft and signs it off.
Does the FCA allow advice firms to use AI?
Yes, within the rules you already follow. The FCA relies on existing frameworks, such as the Consumer Duty and SM&CR, rather than AI-specific rules. So know who is accountable for each automation, check its output, and show your compliance support the plan first.
Is it safe to put client financial information into AI?
Only with the right set-up. We build with Anthropic’s Claude through its business service, which doesn’t train on your data and is covered by a data processing agreement. We never use consumer chatbots with client data. In-house AI on our own hardware in Cardiff is coming soon for work where data shouldn’t leave the building.
Will it work with our back-office system and platforms?
We build alongside them rather than replacing anything. Some share information with other software easily; where they don’t, we work through email, documents and Microsoft 365 instead. The free audit checks what yours can do.
We’re a mortgage broker, not an IFA. Is this for us?
Yes. Case chasing, client updates, document collection and reminders before a deal ends are often the best first jobs for a brokerage. The advice, and any conversation about a decline, stays with your advisers.
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