JammJar response to the FCA Mills Review on AI

06 July 2026

Karl Griffin, CEO and Co-Founder of JammJar:

"The Mills Review is the clearest signal yet that AI in financial services has moved from experiment to expectation and the most important question in the entire review is who will control the client relationship by 2030. The FCA lists four candidates: incumbents, Big Tech, AI intermediaries, or the consumer's own AI agent. Advisers aren't guaranteed a seat at that table. so the way to keep it is to become AI-native yourself. That the intelligence sits inside your firm rather than between you and your client.

"This review should reassure advisers, not frighten them. The FCA has concluded that the existing framework, including Consumer Duty, is fit for purpose, and it frames AI as the answer to the advice gap rather than a replacement for advice. Human judgement stays at the centre. What changes is everything around it: the admin, the data, the follow-up. Firms that let AI carry that load will serve more clients, better, without hiring an army to do it."