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Like other areas of our lives, the presence of artificial intelligence for people’s money matters is growing rapidly. From robo-advisors and budgeting apps to algorithms that automate investing, AI is reshaping how people engage with their money. Yet despite the rise of these tools, when it comes to financial advice, Americans report still preferring advice from a human financial advisor.
The latest Logica® Future of Money Study shows that more than half of Americans (52%) prefer to talk with a human for financial advice, compared to only 10% who say they would choose an AI-powered tool alone. Nearly half want a human advisor when looking at their entire financial picture (48%), planning for retirement (47%), or managing money during uncertain times (46%). The preference for human expertise, empathy and real-world experience over technology shows that financial advice goes beyond numbers on a page.
Why the human touch still matters
It just comes down to the fact that the human element people want in financial guidance cannot be replicated by AI tools, at least not yet. As a recent Financial Advisor article notes, financial planning conversations are “complex, delicate and deeply personal.” Financial advisors don’t just build portfolios: they listen, guide, and provide reassurance, and it’s why people still lean on advisors for the decisions that matter most, especially when markets are volatile, the economy uncertain, or life circumstances change. That human reassurance becomes even more critical when you consider the limits of AI. While these tools promise speed and convenience, they can just as easily introduce new risks—ones that a seasoned advisor is far better equipped to navigate.
Yahoo! Finance shares more about this in “Why Human Financial Advisors Still Matter in 2025.” While AI can be efficient, it’s also prone to “hallucinations” by generating inaccurate answers that sound convincing. An error in financial guidance can carry serious consequences, such as unexpected tax penalties or misguided investment decisions. Advisors can catch those mistakes, interpret the information in context, and help clients keep long-term goals in view. They also provide the empathy and encouragement that AI can’t provide when clients are anxious about their financial future.
Where AI fits in
Still, people are not rejecting AI. In fact, our study found that Americans often turn to AI for straightforward, transactional tasks such as creating a budget (15% prefer AI; 38% say both AI and human equally) or building credit (14% prefer AI; 36% say both equally). This reflects a growing openness to AI in areas where efficiency and speed matter most, but where the stakes are relatively low.
Independent evaluations echo this divide. In a recent Money magazine test of ChatGPT and Gemini, both tools scored well when asked simple financial questions, but struggled with nuance, personalization, and depth. Their answers were sometimes ambiguous or overly technical, underscoring AI’s usefulness for general information rather than tailored advice. Many AI responses during the test came with disclaimers reminding users to “consult a professional”—an acknowledgment by the tools themselves that financial decisions can’t be fully automated. These limitations don’t diminish AI’s value, instead, they point to where its real potential lies: broadening access to financial guidance for people who might otherwise go without it.
Accessibility and equity
It’s true that where AI’s promise may shine the most is in expanding access. Financial advice has long been seen as something only the wealthy can afford, leaving many people without the support they need. Only about a third of Americans have a financial plan today, often due to high costs, limited access to advisors, or discomfort discussing money. The article “How AI is making financial advice more accessible” in World Economic Forum highlights how AI can help bridge this gap, making financial advice more affordable, dynamic, and personalized across demographics.
This democratizing effect of AI tools could help younger investors tackle student debt or build credit, guide middle-income families through decisions like saving for college or buying a home, and support women with financial planning that accounts for career breaks or longevity risks. Even high-net-worth clients can benefit from AI-driven tax optimization and estate planning insights. For advisors, integrating AI means moving beyond static annual reviews to offer more adaptive, real-time guidance that fits evolving client needs. Taken together, these benefits suggest that the real power of AI isn’t in replacing advisors, but in complementing them and opening the door to a model where human expertise and technology work side by side.
The best of both worlds
The future of financial advice isn’t human versus AI, it’s human with AI. Advisors who thoughtfully integrate AI into their practice can deliver both the trust and empathy clients value and the efficiency and scale technology makes possible. Consumers, too, benefit from a dual approach: AI for quick answers and education, and human expertise for the moments when the stakes are high.
Our Logica® Future of Money Study found that people want their advisors to remain at the center of their financial decision-making, but they also see value in AI tools that streamline tasks and increase accessibility. For financial institutions and advisors, the opportunity lies in embracing this balance by leaning into human strengths while deploying AI to enhance, not replace, the advisor-client relationship. Financial planning is about people’s lives, goals, and peace of mind, which is why the human touch still matters even as AI reshapes the future of money.