CFP Board Releases AI Guidance

The CFP Board has released the Generative AI Ethics Guide: A Checklist for Upholding the Code and Standards to assist CFP® professionals in ethically integrating generative AI into their practices. The guide provides practical steps to address key concerns such as data privacy, accuracy, and bias, ensuring that AI enhances rather than compromises professional integrity. While AI can improve efficiency and streamline tasks like research and content refinement, the guide emphasizes that it cannot replace the expertise and judgment of financial advisors. By following the checklist, CFP® professionals can leverage AI responsibly while maintaining compliance with ethical standards and privacy laws.

Looking ahead, the CFP Board plans to establish an external AI Working Group in 2025, bringing together experts from finance and technology to explore AI’s role in financial planning. This group will assess AI’s impact, develop future scenarios, and offer recommendations to ensure that CFP® professionals and their clients navigate the evolving landscape effectively. Additionally, the CFP Board’s Consumer Sentiment Survey — Trust, But Verify underscores the importance of human oversight, showing that investors have greater confidence in AI-generated advice when verified by a financial professional. The guide and upcoming initiatives reflect the CFP Board’s commitment to ethical AI use while maximizing its benefits in financial planning.

To read more, please click the link below.

https://www.cfp.net/news/2025/02/guide-on-ethical-use-of-generative-ai