PERSPECTA

News from every angle

advisor-perspectives

RIAs Should Proceed With Caution When Using AI Tools on Calls With Clients

By Paul J. Foley, Kiki Scarff, John M. Faust

Registered investment advisors (RIAs) are increasingly adopting artificial intelligence (AI) tools that automatically transcribe and summarize client calls. While these technologies may offer efficiency gains, they introduce significant legal and compliance risks. This article discusses the intersection of AI transcription tools with state wiretapping laws, privacy considerations, Securities and Exchange Commission (SEC) requirements, and the evolving litigation landscape.