Under-45s are more likely to turn to AI than a financial adviser

People under 45 in the UK are slightly more likely to seek financial advice from an AI chatbot than from a human financial adviser, according to findings from Attest’s 2027 Consumer Trends report. The survey of 2,000 UK adults found that 11% of this age group use AI for financial guidance, while 9% turn to an adviser.

Although current use remains limited, 41% of respondents under 45 said they would accept AI-provided financial advice if it cost less than equivalent guidance from a professional. Attest CEO Todd Latham said some younger adults are already beginning money-related conversations with AI assistants.

The report also points to potential uses beyond advice. Consumers are open to using AI to compare insurance deals, handle disputes and cancel subscriptions they no longer need. Some are also willing to let AI take action, such as switching providers to find a better deal.

Attest says financial providers need to understand how their products appear in AI-led conversations and what would give consumers confidence to act on recommendations. The findings suggest that companies’ ability to engage with AI-mediated discovery could influence how customers find financial products.

Sources: TechRadar.