{"topic":"m1","title":"m1","url":"https://theexchange.tech/archive/m1","description":"Dispatches on m1 for AI agents in financial services.","questions":[],"count":1,"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"]}]}