Artificial Intelligence (AI) is reshaping nearly every industry, and wealth management is no exception. At Greystone, we believe AI can help our professionals serve clients with greater precision, speed, and consistency when used responsibly.
Our firm’s AI policy is built on a simple principle: technology should enhance human judgment, not replace it. Here’s how we’re using AI to strengthen client relationships, protect sensitive data, and maintain the highest ethical and regulatory standards.
Enhancing Productivity and Service Through Generative AI
Greystone permits the use of Generative AI (GenAI) tools in specific, carefully controlled contexts. These tools can help our advisors prepare more efficiently for meetings, draft follow-up correspondence, and manage client relationships with improved organization and accuracy.
Approved applications include:
- Preparing for client and prospect meetings
- Taking and summarizing meeting notes
- Drafting client follow-up emails
- Creating and tracking action items within our CRM (Redtail)
- Researching topics for newsletters, educational pieces, and social content
By leveraging AI in these areas, our professionals can devote more time to what truly matters, thoughtful analysis, meaningful conversation, and long-term relationship building.
Protecting Clients by Limiting Predictive Use
Greystone prohibits the use of Predictive AI (PredAI), systems designed to forecast or automate investment or behavioral outcomes. This means AI is never used to make investment recommendations, trading decisions, or financial forecasts.
Every portfolio recommendation, financial plan, and investment discussion continues to rely solely on the expertise, fiduciary duty, and human judgment of our advisors.
Our commitment is unwavering: AI supports decision-making; it does not make decisions.
Safeguarding Privacy and Data Integrity
Protecting client confidentiality remains a cornerstone of our fiduciary responsibility. Our AI policy expressly forbids entering any personally identifiable, confidential, or proprietary information into AI platforms. This includes names, addresses, Social Security numbers, transaction details, or account data.
Additionally, our approved platforms must meet strict security, compliance, and record-retention standards. Data is reviewed for accuracy and deleted from temporary AI platforms, ensuring compliance with SEC recordkeeping and privacy regulations.
Human Oversight: Every Output Reviewed
Even the most advanced AI systems can make mistakes. That’s why every AI-generated note, summary, or draft undergoes human verification before being saved, shared, or used in client interactions.
Each Director is responsible for reviewing meeting summaries to ensure accuracy and completeness before uploading them to the CRM. Similarly, all written materials produced with AI assistance, including blog posts like this one, are reviewed internally for factual correctness, tone, and compliance.
Transparency and Ethical Use
Greystone believes in transparency around AI use. Whenever AI tools assist in preparing client-facing materials such as newsletters or educational posts, we disclose this clearly.
For example: “This article was created in part with AI assistance and reviewed by Greystone to ensure accuracy.”
This approach reflects our commitment to honesty and accountability in every communication.
Balancing Innovation with Responsibility
AI can make our firm more efficient, but it cannot replace empathy, judgment, or trust. Greystone’s approach strikes a careful balance between innovation and integrity: using technology to reduce administrative friction while maintaining personal connection and professional standards.
By adhering to our AI policy, we empower advisors to use modern tools safely and effectively, reinforcing our mission to provide informed, transparent, and human-centered wealth management.
Final Thoughts
The future of finance will undoubtedly include AI, but the heart of advisory work will always be human. At Greystone, we embrace that balance, using AI to enhance our service, never replacing the people behind it.
For more information on Greystone’s approach to responsible innovation, please contact your Greystone Advisor.
M. Brian Wachsler
Director
Disclosures:
This is provided for informational purposes only and should not be interpreted in any way as investment, tax, accounting, legal or regulatory advice. An investor must take into consideration his/her individual circumstances.
There is no guarantee investment strategies will be successful. Investing involves risks including possible loss of principal. There is always the risk that an investor may lose money. A long-term investment approach cannot guarantee a profit. All expressions of opinion are subject to change. This article is distributed for educational purposes, and it is not to be construed as an offer, solicitation, recommendation, or endorsement of any particular security, products, or services. Investors should talk to their wealth advisor prior to making any investment decision.
