How do I keep client financial data safe with AI tools?
Account numbers, SINs and statements are exactly the data that must not end up in the wrong AI tool.
- Staff paste client info into ChatGPT.
- Which tools are safe?
- Do we need a policy?
Use only firm-approved AI tools with terms covering storage, training, location and access. Write a short policy: what data can go in, what never can, such as SINs and account numbers, and who approves new tools. Prefer AI inside your CRM or approved platforms. Train staff and review usage.
Rules
| Data | AI use |
|---|---|
| Public or educational | Approved tools |
| Client names and goals | Approved, contracted tools only |
| SINs, account numbers | Never |
| Statements | Approved tools with data terms only |
This is general information, not legal or compliance advice. Your dealer, firm or compliance officer decides what you can do.
How we look at it at ShoutEx
We design automations that keep client data in approved systems.
- Personal AI accounts.
- SINs in prompts.
- No policy.
- No vendor review.
- Approved vendors.
- Written policy.
- Training.
- Usage review.
What advisors and regulators say
Here is what regulators say.
Safeguards for personal information.
Read PIPEDA in brief →Limit personal information in AI.
Read the principles →Community summaries describe recurring themes in public threads, not individual posts. Vendor pages describe vendor claims, so test them on your own calls.
Read next
Go deeper in the ShoutEx guides, or check the sources behind this answer.
We'll design automations that keep data safe.
Book a call →Follow-up questions
Is Microsoft Copilot safe for advisors?
Depends on setup and firm approval.
Do clients need to know?
Be open about AI use.
What about Quebec clients?
Quebec's privacy law has stricter requirements.