Brian McLaughlin: Your client can now ask a chatbot what you did for the fee

On 19 October the Financial Conduct Authority asked the companies behind general-purpose artificial intelligence to put "clear, proportionate and consistent disclaimers" on the financial answers their models give. Jessica Rusu, the regulator's chief data, information and intelligence officer, told a Bloomberg audience that four in five less-experienced investors aged 18 to 40 have already used AI for help with investing.  It is a sensible request. It is also aimed at the wrong end of the problem. The question that should worry advice firms is not what a chatbot tells a client about...