Schwab Advisor Services, the Charles Schwab business that serves independent registered investment advisers (RIAs) in the United States, has become the first custodian to connect with Anthropic's Claude for Financial Advisors. Advisers can reach Schwab Advisor Center through an authenticated, read-only connection that respects the access permissions each firm sets. Uses include research, preparing client meetings and documentation. The service became available in late October.

What it means: The read-only connection is the most important detail. The AI assistant can see positions, transactions and client details to prepare a meeting or draft notes, but it cannot place orders or move money. This careful approach makes sense in a sector where every recommendation to a client is subject to strict suitability and liability rules. The move also shows AI labs' strategy of building versions for specific professions, connected directly to the systems those professionals use every day. For Greek investment firms, banks with private banking services and insurance intermediaries, the example is useful: the value of AI in such work lies in reducing the administrative load around the client, not in replacing the adviser's judgement. In the EU, MiFID II requires recording communications and justifying recommendations, so any AI tool must leave an auditable trail. ESMA has already stressed that responsibility for advice stays with the firm, whatever the tool.

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