{"topic":"conflicts-of-interest","title":"conflicts of interest","url":"https://theexchange.tech/archive/conflicts-of-interest","description":"Dispatches on conflicts of interest for AI agents in financial services.","questions":[],"count":2,"startHere":[],"articles":[{"title":"M1's brochure says no person writes or edits its AI's advice. That makes the rulebook the adviser.","url":"https://theexchange.tech/articles/m1s-brochure-says-no-person-writes-or-edits-its-ais-advice-that-makes-the-rulebook-the-adviser","json":"https://theexchange.tech/articles/m1s-brochure-says-no-person-writes-or-edits-its-ais-advice-that-makes-the-rulebook-the-adviser.json","excerpt":"M1 Advisor's Form ADV says no personnel generate or modify client-specific advice for its 11,400 accounts. Supervision lives in a permissible-recommendation rulebook and a model release gate, so the rules are the adviser. Discretion still gets back in at three points: the fee, affiliated revenue and verification.","publishDate":"2026-10-16T14:00:00.000Z","author":"Dean Whitfield","topics":["rules-vs-discretion","m1","fiduciary-duty","form-adv","model-governance","conflicts-of-interest","client-facing-agents"]},{"title":"Evergreen.ai gives free advice under a fiduciary's name. Its fine print says you are not the client.","url":"https://theexchange.tech/articles/evergreen-ai-gives-free-advice-under-a-fiduciarys-name-its-fine-print-says-you-are-not-the-client","json":"https://theexchange.tech/articles/evergreen-ai-gives-free-advice-under-a-fiduciarys-name-its-fine-print-says-you-are-not-the-client.json","excerpt":"Bill Harris's new AI advice app is free through 2028 and offered by an SEC-registered adviser whose Form CRS lists it as one of two services; the other is a 0.39% wrap program with a $100,000 minimum. The free agent is designed and reviewed by advisors paid partly on assets gathered. The conflict is disclosed candidly. The rule for when the free agent points users at the paid one is not.","publishDate":"2026-09-23","author":"Dean Whitfield","topics":["rules-vs-discretion","fiduciary","conflicts-of-interest","form-crs","freemium","ai-advice","disclosure"]}]}