A recent Gallup study conducted in partnership with Edward Jones found that while Americans are increasingly turning to artificial intelligence (AI) tools for financial guidance, the majority still place greater trust in human financial advisors when making significant money decisions [1]. According to the study, about three-quarters of Americans have sought financial guidance from at least one source in the past year. Of these, 73% relied on their own internet research, 35% consulted family members, 32% sought advice from professional financial advisors, 26% used news or social media, 23% talked to friends, and 18% utilized AI tools such as ChatGPT and Claude [1].
Confidence levels in financial advisors remain high, with 79% of American adults expressing at least some confidence in them, and about one-quarter reporting a great deal of confidence. In contrast, less than three in ten Americans have at least some confidence in AI for financial guidance, and only 3% say they have a great deal of confidence in AI tools [1]. David Chubak, head of wealth management at Edward Jones, commented that the research reaffirms the importance of human advisors, especially when it comes to consequential financial decisions. He noted that while AI is useful for tactical questions—such as information about 401(k) retirement plans, 529 education savings accounts, or Trump Accounts—Americans still prefer human advisors for more complex and personal financial planning [1].
Chubak further explained that AI can help individuals refine their financial questions or concerns, but the actual decision-making and addressing of anxieties are typically handled by human advisors. He emphasized that people value the trust relationship with their advisor, especially when seeking financial fulfillment and navigating real-life decisions [1].
No specific market reactions or analyst forecasts were discussed in the article. The study highlights a cautious approach among Americans toward adopting AI for major financial decisions, despite its growing role in information discovery and tactical guidance [1].
CONCLUSION
The Gallup study indicates that while AI tools are gaining traction for financial information, Americans overwhelmingly trust human advisors for major money decisions. Confidence in financial advisors remains significantly higher than in AI tools, suggesting limited immediate market impact from AI adoption in financial advisory services. The findings underscore the enduring value of human relationships in financial planning.