A growing number of Americans are turning to artificial intelligence for financial guidance, yet the technology remains far from the most trusted source of money advice, according to a new Gallup survey conducted in partnership with financial services firm Edward Jones.

Roughly one in five Americans who sought financial advice over the past year used AI as a resource, the survey found. However, among U.S. adults overall, only about three in ten express "a great deal" or "some" confidence in AI's ability to manage money, including a mere 3% who say they trust it "a great deal." The findings come as consumer-facing AI tools have become widely accessible since the launch of ChatGPT in late 2022, giving the public free or low-cost access to systems capable of answering complex financial questions in seconds.

The poll, conducted this spring among adults aged 21 and older, revealed a notable gap between the sources Americans trust for financial guidance and the ones they actually use. Approximately 8 in 10 U.S. adults report at least "some" confidence in professional financial advisers. Yet only about one-third of those who sought financial advice consulted one. By contrast, 73% said they relied on their own internet research.

As AI adoption grows, financial experts urge consumers to exercise caution before placing full trust in these tools. Taha Choukhmane, associate professor at MIT's Sloan School of Management, suggests that AI works best as an entry point on a learning journey, with users then cross-referencing the information with other trusted sources.

"I would encourage people to use AI to explain and define," Choukhmane said. "If you're interested in knowing what the stock market is, what the difference between a mutual fund and an index fund is. Using AI to explain these concepts can be very useful because it can empower people to get the most out of these methods."

The survey found that the majority of Americans have sought financial guidance from at least one source in the past year. Beyond internet research, financial advisers, and AI, 35% consulted a parent, sibling, or relative, while 26% turned to news, media, or social media. Roughly 2 in 10 said they relied on a friend or an author, speaker, or influencer. Smaller proportions sought guidance from an employer or retirement plan provider, a robo-advisor, or a teacher or professor.

Generational differences are pronounced. Younger Americans are more likely to report using AI for financial advice, while older adults tend to favor professional financial advisers. Cost is a significant factor: online research, consulting family and friends, and using AI carry minimal expense, whereas hiring a professional often demands a greater financial commitment. The pattern reflects a broader divide in how different generations access financial information, with younger adults who came of age in an era of free digital tools showing greater comfort with algorithm-driven guidance.

About a quarter of Gen Z and millennial adults who sought financial advice in the past year turned to AI, compared with 16% of Gen Xers and just 7% of baby boomers. Conversely, only 14% of Gen Z adults and 21% of millennials who sought guidance consulted a professional financial adviser, a figure that rose to 34% among Gen X adults and 55% among baby boomers.

Because AI responds to specific user prompts, the quality of its advice can vary depending on how questions are phrased. Still, posing general questions about personal finance can help users grasp complex financial terminology. Choukhmane also recommends asking AI tools to cite references to trusted sources so users can independently verify the information. AI systems can also produce confident-sounding but incorrect answers—a phenomenon researchers have widely documented—making independent verification especially important for financial decisions.

While AI can serve as a useful research aid, some financial experts raise concerns about the absence of legal accountability. Certified financial planners are bound by a legal obligation to provide advice suited to a client's best interests—a standard that AI tools are not held to. The SEC has also been scrutinizing how financial firms use AI, proposing rules in 2023 that would require advisers to address conflicts of interest arising from predictive data analytics. Ultimately, individuals bear full responsibility for decisions made on the basis of AI-generated recommendations.

"Fiduciary responsibility is very real," said Bobbi Rebell, a certified financial planner and founder of Financial Wellness Strategies. "There's no AI that is a fiduciary. It doesn't really know your life; it's not asking you all the questions."

---

Amelia Thomson-Deveaux, AP's editor for polling and surveys, contributed to this report from Washington.

---

The Associated Press receives support from the Charles Schwab Foundation for educational and explanatory reporting to improve financial literacy. The independent foundation is separate from Charles Schwab and Co. Inc. The AP is solely responsible for its journalism.

---

The poll surveyed 5,075 U.S. adults ages 21 and older between March 20 and April 6, 2026, using a sample drawn from Gallup's probability-based panel, designed to be representative of the U.S. population. The margin of sampling error for U.S. adults overall is plus or minus 1.8 percentage points.

Source: Fortune