07.22.25

One in 5 Americans Open to Financial Advice From AI Bots: FINRA

by: Alex Padalka

Twenty percent of Americans are open to receiving financial advice from AI, according to FINRA’s 2024 National Financial Capability Study of 25,500 adults. The interest comes amid growing financial strain: more households report overspending, fewer have three months of savings (46% vs. 53% in 2021) and only 53% pay credit card bills in full monthly. Two-thirds cut spending due to rising food costs, highlighting what FINRA’s Gerri Walsh calls “the struggle of the middle.” While financial literacy is improving, these pressures suggest AI-driven advice could become an appealing supplement as Americans seek affordable, accessible financial guidance.

Read the full article on Financial Advisor IQ