You have probably heard a lot about artificial intelligence lately. Some people are using it to look up recipes, plan trips, even write letters. Now a growing number of Americans are turning to AI tools for financial guidance, too.
But when it comes to making a real money decision? Most people still want to talk to a human being.
A new study from Gallup, conducted in partnership with Edward Jones, found that about three out of four Americans sought financial guidance from at least one source in the past year. The breakdown of where people turned is telling.
- 73% did their own internet research
- 35% talked to family members
- 32% consulted a professional financial advisor
- 26% turned to news or social media
- 23% asked friends
- 18% used AI tools like ChatGPT or Claude
So AI made the list. But confidence in what it says is another matter entirely.
Nearly 79% of American adults said they have at least some confidence in financial advisors. About one in four said they have a great deal of confidence.
AI tools? Less than three in ten had even some confidence. Just 3% said they have a great deal of confidence in AI for financial guidance.
David Chubak, head of wealth management at Edward Jones, told FOX Business that the research confirms what his firm already believed. When a real decision is on the table, people are not ready to let AI be the one to guide them through it.
“When it comes to the conversation of consequence, to making a real-life decision, people aren’t ready to trust AI as the decision maker for them, as the counselor,” Chubak said.
He added that people still see their financial advisor as a trusted human partner, someone to help think through not just the numbers, but the experience of making an important choice.
So where does AI fit in? Chubak said people tend to use it for more basic, informational questions: things like how a 401(k) works, what a 529 education savings account is, or details about newer options like Trump Accounts.
What they are not using AI for, he said, is working through the deeper stuff. The purpose behind their financial plans. The worries that keep them up at night.
For those conversations, they go to an advisor.
Chubak noted that AI can actually serve a useful role as a starting point. It can help people figure out what questions to ask and when they might need professional help. That way, when they do sit down with an advisor, the conversation can go straight to what matters most.
Bottom line: AI is a handy research tool. But for the decisions that really count, like your retirement, your savings, and your financial peace of mind, most Americans still want a real person in their corner. And there is nothing wrong with that.
