One in Five Americans Now Use AI for Financial Advice

One in five Americans who sought financial guidance in the past year turned to artificial intelligence tools, but confidence in AI-generated money advice remains low across the broader population, according to new survey data.

The Gallup poll, conducted in partnership with financial services firm Edward Jones, found that while 20% of advice-seekers used AI, only three in ten U.S. adults express at least "some" confidence in AI for managing money. Just 3% reported having "a great deal" of trust in these tools.

Why it matters

The gap between usage and trust signals a transitional moment in financial services. As AI tools become more accessible and younger generations adopt them for cost reasons, the industry faces questions about accountability, accuracy, and the role of human expertise in high-stakes financial decisions. The findings also highlight a broader pattern: Americans are more likely to conduct their own internet research than consult professional advisers, even though they trust professionals far more.

The trust-behavior disconnect

The survey revealed a striking mismatch between what Americans trust and what they actually use. About 80% of U.S. adults have at least some confidence in professional financial advisers, yet only one-third of those seeking advice in the past year consulted one. Instead, 73% relied on their own internet research.

Beyond AI and professionals, 35% turned to family members, 26% used news or social media, and about 20% consulted friends or influencers. Smaller shares relied on employers, robo-advisors, or educators.

Generational divides

Age emerged as a key factor in both AI adoption and professional adviser usage. About a quarter of Gen Z and millennial adults who sought financial advice used AI, compared to 16% of Gen Xers and just 7% of baby boomers.

The pattern reversed for professional advisers. Only 14% of Gen Z and 21% of millennials consulted a professional, versus 34% of Gen X and 55% of baby boomers. Cost appears to drive this divide—hiring a financial adviser requires significant financial commitment, while AI tools and online research carry minimal expense.

Expert caution on AI limitations

Financial experts recommend treating AI as a starting point rather than a complete solution. Taha Choukhmane, an associate professor at MIT's Sloan School of Management, suggested using AI to understand basic concepts like the difference between mutual funds and index funds, then combining that knowledge with trusted sources.

Crucially, AI tools lack fiduciary responsibility—the legal obligation certified financial planners have to provide advice in clients' best interests. "There's no AI that is a fiduciary," said Bobbi Rebell, a certified financial planner and founder of Financial Wellness Strategies. "It doesn't really know your life; it's not asking you all the questions."

Choukhmane also recommended asking AI to provide references to verify information, acknowledging that responses vary based on how questions are framed.

The poll of 5,075 U.S. adults ages 21 and older was conducted between March 20 and April 6, 2026, with a margin of error of plus or minus 1.8 percentage points. The findings were first reported by Fortune and The Associated Press.