Why IFA Tools runs on your own Claude or ChatGPT account

Most of the AI software for advice firms that we reviewed comes as a single package: you pay the vendor, and the AI model, whether the vendor's own or a third party's, is part of the service it provides. IFA Tools works differently. Every one of our apps runs on your own Claude or ChatGPT account, which the firm signs up for and pays for directly.

That choice has clear benefits and one obvious cost. This article explains both, so a firm can decide whether the design suits it.

How your own Claude or ChatGPT account works with IFA Tools

During the guided first-run setup, the firm chooses Anthropic's Claude or OpenAI's ChatGPT and signs in with a subscription or an API key. From then on:

• the apps run on the firm's own Mac or Windows computers;
• documents are read on the computer, and the content the AI needs is sent to the provider the firm chose, under the firm's account;
• API keys are stored in the computer's own keychain, macOS Keychain or Windows Credential Manager;
• IFA Tools does not resell AI, does not sit between the firm and the AI provider, and does not hold the firm's client data.

To be clear about what this does not mean: client data still goes to the AI provider for processing, and the meeting apps (Carbon, Asclto and Freeboard) connect to Fireflies, where the firm's meetings are recorded. Your own account changes whose contract governs that processing. It does not make the processing disappear. We map the full data path in where client data goes with AI tools.

Reason one: the firm controls the terms and settings

The FCA has said it will rely on existing frameworks for AI. Its June 2026 blog names "the Consumer Duty, the Senior Managers and Certification Regime (SM&CR), and our expectations on governance and controls." The ICO's (now the Information Commission's) guidance on AI and data protection says "it is your responsibility to decide which lawful basis applies", and firms must decide and document whether an AI provider is a controller or a processor.

Those are the firm's decisions, and they are easier to make when the firm has the agreement with the AI provider in front of it. With your own account you can:

• read the provider's current terms for the exact plan you use;
• check and record the training setting. For example, Anthropic's pricing page (seen 7 October 2026) says its Team plan has "No model training on your content by default", while on consumer plans model training is opt-out;
• manage access to the account yourself, under the firm's own controls;
• use the provider the firm already trusts, rather than one chosen by a software vendor.

For the DPIA, this changes the shape of the work: the AI provider is a party you contract with directly, rather than one engaged on your behalf by a software vendor. You still need to assess it yourself.

Reason two: the cost of AI is visible

When AI is bundled into a software price, it is harder for the firm to see how much of the fee is the model and how much is the software. With IFA Tools, the two are separate and both are published.

What IFA Tools costs

Prices are per adviser per month, excluding VAT, with no contract and cancellation monthly:

Annual billing gives two months free, so ten months are charged.

What the AI account costs

This is the honest part: IFA Tools users also pay separately for their own Claude or ChatGPT account. On claude.com/pricing, seen on 7 October 2026 and priced in US dollars, Claude Pro was $20 monthly ($17 a month billed annually) and Claude Team Standard was $25 per seat monthly ($20 billed annually). OpenAI publishes its own ChatGPT plan prices, which we have not confirmed here, so check its current pricing page. Provider prices may change at any time.

Many firms already pay for one of these accounts. For those that do not, it is a real addition to the monthly bill, and it should be included in any comparison with other tools. A firm should also check the plan's usage allowance against the volume of work it expects to run, using the provider's own published information.

Reason three: you are not locked into one model

The firm chooses Claude or ChatGPT in setup. If the firm already standardises on one provider for its other work, the apps fit in with that. The firm is also not dependent on IFA Tools negotiating access to a model on its behalf.

The honest downsides

We think the design is right for many firms, but it is not free of trade-offs:

• Two bills. The app licence and the AI account are separate. Hosted platforms that bundle AI may be simpler to budget for, though in our research (October 2026) several did not publish their prices.
• One more supplier to review. The firm carries out due diligence on the AI provider directly. That is extra work, even if it gives a clearer answer.
• One extra setup step. Someone has to sign in with a subscription or paste an API key during setup.
• Provider terms are the provider's. If an AI provider changes its plans or prices, the firm sees the change directly, for better or worse.

Does the extra cost pay back?

That depends on how much work the apps take off the firm. By our estimate, writing one annual review in Strata takes about 20 minutes against about 3 hours by hand, a saving of about 2.5 hours. At five reviews per adviser a month, our estimate is around 12.5 hours a month from Strata alone. The firm can set those hours against the app licence and the AI plan together, at its own charge-out rate. We work through the calculation in the cost of admin in a financial planning firm.

Frequently asked questions

Do I need a paid Claude or ChatGPT account to use IFA Tools?

Yes. The apps do the AI work through the firm's own Claude or ChatGPT account, signed in with a subscription or an API key. That account is paid for separately from the IFA Tools licence.

Can IFA Tools see my AI account or my client data?

IFA Tools does not sit between the firm and the AI provider and does not hold the firm's client data. API keys are stored in the computer's own keychain.

Does using my own account mean client data stays on my computer?

No. Documents are read on the computer, but the content the AI needs is sent to the provider the firm chose, under the firm's account. Your DPIA should cover that provider, and Fireflies if you use the meeting apps.

To see it running on a real workload, look at Strata or book a demo: twenty minutes on Microsoft Teams with Adam Booth, live on a demo firm, with nothing to prepare.