A survey of 800 people by Unbiased showed that the total proportion of people included 40% who would only consider a human adviser and 34% who were open to a human adviser using AI tools, indicating they would still want the process to be adviser-led.
The main reasons people wanted to use a human adviser were trust and personal connection, the survey found.
Respondents said they were reassured by speaking to a person or being able to meet face to face when making complex financial decisions.
There also seemed to be scepticism towards AI, as a quarter of people said there was a lack of human oversight with the technology and 23% cited the risk of poor or inaccurate advice. A further 19% said there might be concerns with data privacy and security.
Open responses found that people viewed AI as “untested”, “untrustworthy”, and vulnerable to fraud.
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AI in a supporting role
However, the survey revealed people were open to AI in a support capacity, with 24% saying it could lower costs, 21% suggesting it would result in faster support and 18% saying it would help to deliver 24-hour availability.
Unbiased’s research found that 23% of people were open to using AI to match with advisers, and 21% would consider it for answers to general questions. A further 18% suggested it would be useful in producing personalised reports or summaries.
Tim Grimsditch, managing director at Unbiased, said: “This research shows what many in the industry already sense: people want the human touch in financial advice.
“Trust and personal connection remain paramount, especially for life-changing financial decisions.”
He added: “At the same time, there’s clearly an acknowledgement of AI’s ability to play a supporting role – helping with efficiency, cost, and accessibility. The future isn’t AI instead of advisers, but advisers enabled by AI.
“That’s where Unbiased is focused: harnessing AI responsibly and transparently, while keeping qualified professionals firmly at the heart of advice.”
