CFP Board Response to House Financial Services Committee Democrats' Request for Information on Artificial Intelligence

CFP Board. (2026, August 14). CFP Board response to House Financial Services Committee Democrats' request for information on artificial intelligence. https://www.cfp.net/-/media/2026/miscellaneous/cfp-board-ai-rfi-response.pdf

• CFP Board, which certifies more than 109,000 CERTIFIED FINANCIAL PLANNER professionals representing approximately one-third of retail financial professionals, submitted this response on August 14, 2026 to the House Financial Services Committee Democrats' request for information on artificial intelligence.

• The response states that AI in financial services should augment rather than replace human financial planners in consumer-facing advice.

• CFP Board recommends that firms using AI maintain appropriate human oversight and disclose AI's role in advice delivery.

• The letter identifies governance safeguards for the sensitive consumer financial data that AI planning tools collect and process, including protocols for error detection and escalation and management of model risk from inaccurate or biased outputs.

• CFP Board urges Congress and regulators to consider how AI governance frameworks interact with existing financial services regulations.

• The response asks policymakers to create a flexible, risk-based framework that supports innovation while protecting investors, grounded in transparency, fairness, accountability, and oversight of high-impact AI uses.

• Accountability is anchored in CFP Board's Code of Ethics and Standards of Conduct, supported by its Generative AI Ethics Guide and Guide to CFP Board's Technology Standard, alongside commitments to enhanced continuing education and updated practice standards.

Knote: We think AI governance will emerge as a big roadmap item during the 2027 planning cycle. If we are wrong, we think we are only wrong by a year.