What to Include in Your Firm’s AI and Cybersecurity Policy Statement – Wealth Management
Preserve professional judgment and confidentiality
October 22, 2026
Firms should consider adopting a formal policy statement governing artificial intelligence. Memorializing key firm policies in writing provides clarity for professional and administrative staff and a framework to develop training sessions to ensure that personnel are familiar with firm policies and the risks that technology may pose. That training could help reduce the risks the firm faces. Having a written policy statement also helps demonstrate that the firm has been deliberate in its professional responsibilities regarding these matters. Formalizing policies may help demonstrate compliance with the firm’s ethical requirements. Finally, when completing insurance carrier cybersecurity applications, having a formal policy may not only fa…
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Martin M. Shenkman
Partner , Shenkman Tietz
Martin M. Shenkman, CPA, MBA, JD, PFS, AEP (Distinguished) is author of more than 40 books and more than 1,400 articles on estate planning and related topics. He is a frequent lecturer for numerous trade, professional and other organizations. He is active in numerous charitable endeavors. He has practiced estate planning for 35+ years.
Thomas Tietz
Partner, Shenkman Tietz
Thomas Tietz is a partner in Shenkman Tietz.
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