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The Analyst in the Prompt: Role, Retrieval, and Memory Biases in LLM Financial Analysis

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Listed:
  • Ahmed Asaad
  • Amr Mohamed
  • Yang Zhang
  • Omneya Abdelsalam

Abstract

Large Language Models (LLMs) increasingly use user context such as memory, profiles, and role prompts to personalize their responses. This personalization can affect evidence-based judgment: the same evidence may lead to different conclusions under different user contexts. Finance provides a high-stakes setting to study this problem because decisions often depend on interpreting long and complex documents. We test this using 3,575 SEC filings across twelve LLMs. We compare persona-conditioned retrieval, neutral retrieval, and memory-framed context to separate the effect of evidence selection from the effect of interpretation. We find that most user-context spillover comes from how models interpret the same evidence under different roles, rather than from retrieving different evidence. We then test two simple mitigation strategies: expressing the same investor mindset as a user profile instead of an assistant role, and separating evidence-based and personalized outputs. Both reduce spillover, but neither removes it completely, and their effectiveness varies substantially across models.

Suggested Citation

  • Ahmed Asaad & Amr Mohamed & Yang Zhang & Omneya Abdelsalam, 2026. "The Analyst in the Prompt: Role, Retrieval, and Memory Biases in LLM Financial Analysis," Papers 2609.03218, arXiv.org.
  • Handle: RePEc:arx:papers:2609.03218
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    References listed on IDEAS

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