Survey: Many Americans Turn to AI for Finances, Trust Lags
WHO:
ABC News - Gallup, Edward Jones, Taha Choukhmane (associate professor at MIT’s Sloan School of Management), Bobbi Rebell (certified financial planner and founder of Financial Wellness Strategies)
WHAT:
ABC News - About 2 in 10 adults said they turned to a friend or an author, speaker, or influencer for financial advice.
ABC News - 16% of Gen Xers sought financial advice from AI, compared to 7% of baby boomers.
ABC News - 34% of Gen X adults sought guidance from a professional financial adviser, while about half, 55%, of baby boomers did the same.
ABC News - About 1 in 5 Americans who sought financial advice in the past year turned to AI.
ABC News - Only about 3 in 10 U.S. adults have “a great deal” or “some” confidence in AI for managing money.
ABC News - Only 3% of U.S. adults trust AI “a great deal.”
ABC News - About 8 in 10 U.S. adults have at least “some” confidence in financial advisers.
ABC News - 73% of those seeking financial advice relied on their own internet research.
ABC News - 35% sought advice from a parent, sibling, or relative; 26% from news, media, or social media; 20% from a friend or an author, speaker, or influencer.
ABC News - About a quarter of Gen Z and millennial adults who looked for financial advice in the past year went to AI.
ABC News - 14% of Gen Z adults and 21% of millennials who sought guidance turned to a professional financial adviser.
ABC News - 34% of Gen X adults and about 55% of baby boomers sought advice from a professional financial adviser.
ABC News - The poll surveyed 5,075 U.S. adults ages 21 and older.
WHERE:
ABC News - The survey was conducted in the United States.
WHEN:
ABC News - The poll was conducted from March 20 to April 6, 2026.
ABC News - The margin of sampling error for U.S. adults overall is plus or minus 1.8 percentage points.
WHY:
ABC News - Younger generations are more likely to use AI for financial advice due to affordability concerns regarding hiring a financial adviser.
HOW:
ABC News - Taha Choukhmane recommends asking AI to provide references to trusted sources to verify the information provided.
ABC News - Financial experts recommend using AI as a tool for initial learning and combining it with other trusted sources for financial guidance.
(UPDATED August 7, 2026 18:40 UTC)
A recent report reveals that about two in ten adults are turning to friends or influencers for financial advice, while 34% of Gen Xers are consulting professional financial advisers. Interestingly, 16% of Gen Xers have sought guidance from AI, a figure that stands in contrast to just 7% of baby boomers who have done the same, with half of baby boomers opting for professional advice. Financial expert Taha Choukhmane suggests that when using AI for financial guidance, it's wise to ask for references to trusted sources to ensure the information is reliable.
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(UPDATED August 7, 2026 17:50 UTC)
A recent survey found that about one in five Americans who sought financial advice in the past year turned to AI, with younger generations being more inclined to do so due to affordability concerns. While 73% of those seeking advice relied on their own internet research, only 3% of U.S. adults expressed a high level of trust in AI for managing their finances, compared to 80% who have at least some confidence in human financial advisers. Financial experts suggest using AI as a tool for initial learning, but recommend combining it with other trusted sources for comprehensive financial guidance.