A new Good Money Guide survey of investors suggests that artificial intelligence is now widely used by private investors, but trust remains limited when it comes to financial advice.
Nearly one in six UK investors surveyed has already acted on AI-generated financial advice, despite four in ten saying AI should never be allowed to provide it.
Almost seven in ten respondents said they had used at least one AI platform, with ChatGPT the most commonly used tool. However, only 18.8% said they would trust AI tools such as ChatGPT, Claude or Gemini to give financial advice.
By comparison, 60.2% said they would trust established financial sites, 32% trusted national press, and 28.1% trusted search engines. Whereas social media influencers continue to be ranked lowest, trusted by just 5.5%.
Should AI be allowed to give financial advice?
The clearest finding is that investors are not completely against AI giving financial advice, but they want regulation.
When asked whether AI should be allowed to give financial advice:
44.5% said yes, but only if properly regulated or certified.
41.4% said AI should not provide financial advice.
5.5% said yes, regardless of regulation.
8.6% said they did not know.
So, in total, exactly 50% of respondents were open to AI financial advice in some form, but the overwhelming majority of those wanted safeguards.
UK investors are already taking on financial advice from AI
Our data suggests that AI is already having a real-world impact on investor behaviour, even before there is widespread confidence in its reliability.
Despite low trust levels, 16.4% of respondents said they had already acted on financial advice from AI.
That is lower than financial sites (46.9%) and national press (34.4%), but higher than social media influencers (10.9%).
Does this agree with the FCA’s research?
Broadly, yes.
The FCA’s AI consumer research found that 67% of consumers use AI for any purpose, very close to the 68.8% in Good Money Guide’s survey. It also found that 16% of consumers already use AI to support at least one personal finance activity, and that usage is higher in complex areas such as investing, pensions, debt and tax planning.
The FCA also found that trust is selective. Consumers are more willing to use AI to explain or summarise information than to rely on it for accuracy, data handling or accountability. That matches Good Money Guide’s findings: investors are using AI, but they are far less likely to trust it than established financial sites, the press or regulated sources.
Where Good Money Guide’s data is slightly more cautious is on permission. More than four in ten respondents said AI should not provide financial advice at all, while another large group only supported it if regulated or certified. That supports the FCA’s conclusion that safeguards, recourse and human oversight will be critical to adoption.
Confidence in AI financial advice without investor protection
One concern is that investors may feel confident enough to use AI, but not necessarily protected if something goes wrong.
In Good Money Guide’s survey, 82.8% of respondents said they were either somewhat or very confident that they could spot bad financial advice. But the FCA warned that many consumers do not understand there may be no formal route for redress if they act on advice from a general-purpose AI tool.
That creates a dangerous gap where investors are confident enough to ask AI for help, but not fully aware of the consequences if the answer is wrong.
As AI is becoming part of the investment research process, it has not yet earned investors’ trust as a source of financial advice.
Good Money Guide’s survey suggests investors are open to AI playing a role, particularly as a research, comparison or explanation tool. But when it comes to personalised financial advice investors want regulation, accountability and protection before they are willing to fully trust it.
Good Money Guide AI & Investing Survey: Key findings
Which AI platforms have investors used?
ChatGPT remains the clear market leader, with almost twice as many investors using it as Gemini or Copilot.
- 43.8% have used ChatGPT
- 35.9% have used Google AI Overviews
- 22.7% have used Microsoft Copilot
- 21.9% have used Google Gemini
- 12.5% have used Claude
- 12.5% said they have used another AI platform
How experienced are investors?
Respondents were generally experienced investors:
- 44.5% invest regularly and consider themselves confident investors.
- 37.5% invest occasionally and are still learning.
- 9.4% don’t currently invest but are interested in starting.
- 8.6% said they have no interest in investing.
This suggests the survey reflects the views of active investors rather than the general public.
Should AI be allowed to give financial advice?
Opinion was almost evenly split.
- 44.5% said AI should be allowed to provide financial advice only if it is properly regulated or certified.
- 41.4% said AI should not provide financial advice at all.
- 5.5% said AI should be allowed regardless of regulation.
- 8.6% were unsure.
The results suggest investors are open to AI playing a greater role, but only with clear regulation and accountability.
How confident are investors at spotting bad financial advice?
Most respondents believe they can identify poor financial advice.
- 20.3% said they were very confident.
- 62.5% were somewhat confident.
- 14.1% were not very confident.
- 3.1% said they were not confident at all.
Overall, more than eight in ten investors (82.8%) believe they could spot misleading or poor-quality financial advice.
Where have investors acted on financial advice?
Financial websites were by far the most influential source of financial decisions.
- 46.9% have acted on advice from financial websites.
- 34.4% have acted on advice from the national press.
- 21.9% have acted on advice from search engines.
- 16.4% have acted on advice generated by AI tools.
- 10.9% have acted on advice from social media influencers.
- 32.8% said they had not acted on advice from any of these sources.
While AI is already influencing investment decisions, financial sites remain almost three times more influential than AI when it comes to prompting investors to take action.
Richard is the founder of the Good Money Guide (formerly Good Broker Guide), one of the original investment comparison sites established in 2015. With a career spanning two decades as a broker, he brings extensive expertise and knowledge to the financial landscape.
Having worked as a broker at Investors Intelligence and a multi-asset derivatives broker at MF Global (Man Financial), Richard has acquired substantial experience in the industry. His career began as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson), following internships on the NYMEX oil trading floor in New York and London IPE in 2001 and 2000.
Richard’s contributions and expertise have been recognized by respected publications such as The Sunday Times, BusinessInsider, Yahoo Finance, BusinessNews.org.uk, Master Investor, Wealth Briefing, iNews, and The FT, among many others.
Under Richard’s leadership, the Good Money Guide has evolved into a valuable destination for comprehensive information and expert guidance, specialising in trading, investment, and currency exchange. His commitment to delivering high-quality insights has solidified the Good Money Guide’s standing as a well-respected resource for both customers and industry colleagues.
