AT A GLANCE

• Among those who sought financial guidance from AI tools, 82% rated the quality of the advice as at least “good,” but just 23% accepted the advice and acted on it without first seeking additional validation.
• Four in 10 Gen Z adults (40%) say the availability of AI tools has increased their need for a human financial professional, compared with 27% of Americans overall.
• Among Americans who work with a financial professional, 47% say knowing their professional uses AI increases their overall trust. This sentiment rises to 65% among Millennials and 61% among Gen Z.
• Americans who work with a financial professional, have a financial strategy, and own both protection and investment products are nearly twice as likely to be actively working toward their financial goals and report significantly stronger overall confidence than those without this combination.

NEW YORK: Most Americans who use AI for financial guidance do not act on it, according to the latest installment of New York Life Wealth Watch research. Among those who sought financial guidance from AI tools, 82% rated the quality of the advice as at least “good,” but only 23% accepted the advice and moved forward without first seeking additional validation.

"Our research shows Americans are using AI to build their financial knowledge, ask better questions and make more informed financial decisions," said Sean Madgett, vice president and head of Planning & Practice Solutions at New York Life. “We also found that more than half of adults (62%) believe AI tools don’t understand their personal financial situation very well. Taken together, we’re seeing AI as a starting point, but not a replacement for tailored human guidance.”

Americans Start with AI for the Financial Basics

• 44% of Americans use AI tools at least weekly and nearly a quarter (24%) of adults would feel comfortable utilizing AI for financial advice.
• 27% of Americans have used AI tools for a financial question in the past year, with Gen Z being most likely (45%).
• Among the financial topics AI users search for are budgeting (42%), followed by investing basics (39%) and general financial education (31%). Retirement planning was asked about by just 12% of AI users, and developing a holistic financial strategy by only 10%.
• Among those who sought financial guidance from AI tools, 82% rated the quality of the advice as at least “good,” though a majority (62%) say AI tools do not understand their personal financial situation very well. Another 43% describe the guidance they receive as only sometimes tailored to their situation, while 22% say it feels mostly generic.
• Though Americans may start their financial learning with AI, only 23% accepted the advice and acted. Others sought additional validation (respondents could select multiple options): 54% ran their own internet search, 31% consulted a friend or family member and 29% checked another AI tool before proceeding.

AI Is Driving Demand for Human Financial Professionals

• Overall, 27% of Americans say that having access to AI tools has made them feel a greater need for a financial professional. Among Gen Z adults, that figure rises to 40%.
• When it comes to the most consequential decisions, the preference for human involvement is broad and consistent across generations.
  • Three in four Americans (75%) say it is important for a human to be involved in their most important financial decisions, with more than half (51%) calling it very important.
  • Among those who prefer human involvement, the top reasons are trusting humans to understand their full situation (57%), wanting someone who truly knows them (37%), emotional reassurance (27%) and someone to hold them accountable (18%).

"Interestingly, the generation that has grown up with technology is also the one most likely to recognize what technology can’t do," Madgett said. "Gen Z uses AI for financial questions more than any other generation, and they’re also the most likely to say that AI makes them want human guidance more. Access to information is not the same as having someone in your corner."

AI Strengthens Relationships with Financial Professionals

• Among Americans who currently work with a financial professional, nearly half (47%) say that knowing their financial professional uses AI increases their overall trust.
  • This sentiment is most prevalent among younger generations: Trust rises to 65% among Millennials and 61% among Gen Z. Only 12% of Baby Boomers report the same effect.
• Three in four Americans (76%) with a financial professional say they would be comfortable if their professional were using AI to help manage or inform their financial strategy.
  • Comfort is highest when AI handles support tasks: scheduling and reminders (71%), meeting preparation (68%), and document organization (66%).
  • Half of Americans (50%) say they are comfortable with AI making automatic investment decisions without human review.

"Americans don’t want to choose between technology and a human relationship. They want both, and when their financial professional uses AI well, it can deepen the trust they already have," Madgett said.

Relationships with Financial Professionals Improve Financial Outcomes

A majority (84%) of Americans say it is important for a financial strategy to address both growth and protection. Americans who have built that kind of comprehensive approach, including working with a financial professional, having a financial strategy, and owning both protection and investment products, report materially stronger financial confidence and outcomes than those who have not.

• Among Americans with a financial professional, a financial strategy, and both protection and investment products, 93% are confident in their ability to make sound financial decisions, compared with 78% of Americans overall.
• This group is also far more likely to feel financially prepared for unexpected life events: 93% report confidence in their preparedness, compared with 58% of Americans overall.
• Nearly twice as many Americans in this group say they have clear financial goals and are actively working toward them (66%), compared with 35% of adults overall.
• Americans in this group are three times as likely to receive both investment and insurance guidance from the same financial professional (33%), compared with just 11% of Americans overall - reflecting the value of a single, integrated approach.

"At New York Life, we believe that bringing protection and growth together with human guidance at the center drives better financial decisions and outcomes," Madgett said. "Our data suggests Americans who have a trusted professional, a financial strategy, and the right combination of solutions report meaningfully stronger confidence and preparedness."

FREQUENTLY ASKED QUESTIONS

Do Americans trust AI for financial advice?

Most Americans do not fully trust AI for financial advice. According to the July 2026 New York Life Wealth Watch survey, only 23% of those who received AI financial guidance acted on it without first seeking additional validation. Overall, 45% of Americans trust AI tools at least “somewhat” for financial purposes, but only 24% say they would feel comfortable using AI specifically for financial advice. Trust is highest among Gen Z (59%) and Millennials (57%), and lower among Gen X (38%) and Baby Boomers (29%).

Does using AI for finances reduce the need for a financial professional?

New York Life’s research finds the opposite. Among Gen Z adults, 40% say the availability of AI tools has made them feel a greater need for a human financial professional, compared with 27% of Americans overall. Three in four Americans (75%) say it is important for a human to be involved in their most important financial decisions.

What financial topics do Americans ask AI about?

Americans who use AI for financial questions most commonly ask about budgeting and saving (42%), investing basics (39%) and general financial education (31%). Only 12% ask about retirement planning and 10% ask about developing a holistic financial strategy.

Does knowing a financial professional uses AI affect trust in that adviser?

Among people who work with a financial professional, 47% say knowing their financial professional uses AI increases their overall trust, according to the New York Life Wealth Watch survey. This effect is strongest among Millennials (65%) and Gen Z (61%). Three in four Americans working with financial professionals (76%) say they would be comfortable if their professional used AI to help manage or inform their financial strategy.

Do Americans who work with a financial professional report better financial outcomes?

Yes. New York Life Wealth Watch data shows that Americans who work with a financial professional, have a financial strategy in place, and own both protection and investment products report significantly stronger confidence and outcomes. This group is 93% confident in their ability to make sound financial decisions (vs. 78% overall), 93% confident they are financially prepared for unexpected life events (vs. 58% overall), and nearly twice as likely to be actively working toward clear financial goals (66% vs. 35% overall).

About Wealth Watch

Wealth Watch is a recurring survey from New York Life Insurance Company that tracks Americans’ financial goals, progress toward those goals, and confidence in their financial futures. The series identifies emerging trends in retirement planning, the role of protection-oriented solutions, and the value of financial guidance.

Survey Methodology

This poll was conducted July 21 - 23, 2026 among a sample of 2,278 adults. The interviews were conducted online, and the data were weighted to approximate a target sample of adults based on gender, age, race, educational attainment, and region. Results from the full survey have a margin of error of plus or minus 2-3 percentage points.

ABOUT NEW YORK LIFE

New York Life Insurance Company (www.newyorklife.com), a Fortune 100 company founded in 1845, is the largest1 mutual life insurance company in the United States and one of the largest life insurers in the world. Headquartered in New York City, New York Life’s family of companies offers life insurance, disability income insurance, retirement income, investments, and long-term care insurance. New York Life has the highest financial strength ratings currently awarded to any U.S. life insurer from all four of the major credit rating agencies.2

1 Based on revenue as reported by “Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual),” Fortune magazine, 6/3/2026. For methodology, please see https://fortune.com/ranking/fortune500/#methodology.

2 Individual independent rating agency commentary as of 10/28/2025: A.M. Best (A++), Fitch (AAA), Moody’s Investors Service (Aa1), Standard & Poor’s (AA+).

Fonte: Business Wire