Vendor due diligence
AI vendors should be reviewed like critical technology providers, with additional focus on model training, data retention, auditability, and output controls.
Related tool categories: compliance, archiving, and approved enterprise AI environments such as Smarsh, Global Relay, Red Oak, Comply, SmartRIA, RIA in a Box, Microsoft Copilot, ChatGPT Enterprise, and Claude Enterprise.
What this means in practice
- SOC 2/ISO reports, encryption, access controls, subprocessors, retention/deletion, breach notice, model-training terms.
- Export and archive capabilities.
What good implementation looks like
Good advisor AI implementation connects this workflow to the firm’s systems of record, makes uncertainty visible, and keeps the advisor in control of client-facing decisions.
Risks and controls
- A useful tool that cannot meet retention, privacy, or supervision needs may be unsuitable.
Advisor value: AI should reduce administrative drag and surface better context, while the planner provides judgment, prioritization, and accountability.