Under-45s turn to AI before financial advisers, study finds

UK adults under 45 are more likely to turn first to an AI assistant than to a financial adviser when making a money decision, according to research from Attest. The gap is narrow: 11% would choose AI first, compared with 9% who would choose an adviser.

The consumer insights group said the figures suggest AI is becoming an early source of information for some people weighing financial choices. The research also found that 41% of under-45s would accept financial advice from AI if it were cheaper than advice from a person.

That suggests price may influence whether some consumers choose automated guidance over human support. At the same time, the findings reflect stated willingness rather than confirmed purchases or actions taken after receiving advice.

Beyond advice, respondents were more willing to let AI handle routine financial administration than more significant decisions. Among the 2,000 UK adults surveyed, 41% said they would allow an assistant to cancel unused subscriptions without asking each time.

Another 36% said they would let AI negotiate a refund or dispute a charge on their behalf. Three in 10 said they would allow AI to switch them to a better insurance or utilities deal.

AI use appears to affect that willingness. Among the heaviest users, the share willing to let an assistant switch them to a better deal rose to 54%.

Consumers were less willing to hand over decisions involving larger sums or longer-term risk. Attest found that 17% would let an assistant move their savings to another provider for a better rate, while 10% would allow it to buy and sell investments.

Influence on choices

The research also examined how AI affects shopping behaviour more broadly. Among shoppers who had used AI, 62% said they had ruled out an option based on the assistant's advice without checking elsewhere.

That indicates AI can shape not only what consumers discover, but also which providers or products remain in contention. For financial services groups, insurers and utilities suppliers, this may increase the importance of how their offers are described in AI-generated responses before a customer visits them directly.

It also highlights the distinction between appearing in an AI response and securing a final purchase. Consumers may use AI to identify unfamiliar products or services while still relying on brand recognition and confidence before committing to a decision.

The pattern was visible across sectors beyond finance, including insurance, travel, tickets and experiences. The figures suggest AI is becoming part of an earlier stage of the customer journey, when options are screened and shortlists formed.

Todd Latham, Chief Executive Officer of Attest, described the shift in how some consumers begin the decision process. "For some younger adults, the first conversation about a money decision is already happening with an AI assistant. Financial brands increasingly need to understand the questions people are asking before a customer reaches them, and which providers and products AI puts in front of consumers.

"Our findings across financial products, insurance, travel, tickets and experiences also show how influential that stage can be. Consumers are not only using AI to explore their options, but are increasingly open to letting it take action on their behalf, from cancelling unused subscriptions to switching providers for a better deal. Providers need to understand how their products are represented in these conversations and what gives consumers the confidence to act," Latham said.