Younger adults will consult AI before a financial advisor on money problems

Date:
Tue, 03 Nov 2026 22:05:00 +0000

Description:
Brits under 45 are more receptive to AI giving financial advice, with 11% preferring discussing money problems with an AI assistant, compared with 9% relying on a financial advisor.

FULL STORY ======================================================================Copy link Facebook X Whatsapp Reddit Pinterest Flipboard Threads Email Share this article 0 Join the conversation Follow us Add us as a preferred source on Google Newsletter Subscribe to our newsletter People under 45 are using AI to get financial advice In that cohort, more people (11%) are using AI for financial advice rather than consulting financial advisors (9%) The survey of 2000 UK adults highlights where the financial industry is failing to embrace AI AI has already been a huge disruptor across all industries, but how it is used by consumers has been difficult to predict. Following the use of search to find AI-recommended products, consumers are now consulting AI for
financial advice and using the technology more than they would human financial advisors.

A new survey of AI use in financial and monetary tasks has found that 11% under-45s are seeking financial advice from LLM-backed chatbots, more than
the 9% who seek guidance from living, breathing advisors with experience in banking and finance products. The research from Attests 2027 Consumer trends report highlights some interesting ways in which people expect to be able to use AI, too including using it to switch to better insurance deals,
negotiate disputes, and even cancel unused subscriptions. Latest Videos From TechRadar Watch full video here: Money decisions The Attest report reveals numerous interesting insights from its survey of 2000 UK adults. But it is
the AI-related revelations that hold particular fascination. While the number of under 45s using AI for financial advice may seem small at 11%, a more significant 41% has admitted they would accept AI-provided financial advice
if it was cheaper than equivalent advice from a professional.

For some younger adults, the first conversation about a money decision is already happening with an AI assistant," noted Todd Latham, CEO of Attest.
You may like The AI advice gap: what happens when the machine says "yes"? AI agents need limits on financial access AI is making people less confident in professionals such as doctors and teachers

"Financial brands increasingly need to understand the questions people are asking before a customer reaches them, and which providers and products AI puts in front of consumers.

In the world of financial marketing, however, these findings offer a completely different story. Appearing in AI-generated search results is one part of this, but it is the equivalent of an introduction, and doesnt commit the customer to pursuing any opportunities. Are you a pro? Subscribe to our newsletter Sign up to the TechRadar Pro newsletter to get all the top news, opinion, features and guidance your business needs to succeed! Contact me
with news and offers from other Future brands Receive email from us on behalf of our trusted partners or sponsors By submitting your information you agree to the Terms & Conditions and Privacy Policy and are aged 16 or over. AI investment Could people begin to rely on AI to manage investments and find
new products within their budgets? At the moment, the answer would seem to be no, as the marketplace isnt really responding to what AI can do for investments, insurance, and other financial products.

Latham confirms this, saying that financial product providers arent really communicating with an AI-friendly marketplace.

Our findings across financial products, insurance, travel, tickets and experiences also show how influential that stage can be. Consumers are not only using AI to explore their options, he explains, but are increasingly
open to letting it take action on their behalf, from cancelling unused subscriptions to switching providers for a better deal. Providers need to understand how their products are represented in these conversations and what gives consumers the confidence to act.

Its safe to say that if existing providers dont act quickly, financial products will come from new lenders and brokers who are more suited to AI-based referrals. Follow TechRadar on Google News and add us as a preferred source to get our expert news, reviews, and opinion in your feeds.



======================================================================
Link to news story: https://www.techradar.com/pro/younger-adults-will-consult-ai-before-a-financia l-advisor-on-money-problems


--- Mystic BBS v1.12 A49 (Linux/64)
* Origin: tqwNet Technology News (1337:1/100)