Majority of clients view ChatGPT as the 'future' of financial advice

Clients embrace ChatGPT’s potential to revolutionise financial advice

Sahar Nazir
clock • 1 min read

The majority (73%) of clients believe that artificial intelligence (AI) service ChatGPT could provide reliable financial advice in the future.

This is according to an annual study by Investor Index conducted among 1,100 UK adults with a minimum of £10,000 invested. Although 42% of younger investors (18-34) said that they had already used ChatGPT for advice, the study also revealed that over half (54%) of clients aged over 65 said that ChatGPT could be the future of financial advice. Over onethird of clients said that they would prefer to use a robo-adviser rather than a traditional financial adviser. AML Group senior strategist Sarah Nunneley said: "While ChatGPT is currently not regulated, its perceived promise as a sour...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Octopus Money: Why a Seccl-backed platform integration is for us

Octopus Money: Why a Seccl-backed platform integration is for us

'Technology and compliance acts as an anchor in the industry'

Sahar Nazir
clock 18 April 2024 • 1 min read
AJ Bell platform hits £80.3bn AUA as advised customers increase

AJ Bell platform hits £80.3bn AUA as advised customers increase

The firm recorded total advised customers of 165,000

Cristian Angeloni
clock 18 April 2024 • 2 min read
Women in Financial Advice Awards 2024: Two weeks to nominate!

Women in Financial Advice Awards 2024: Two weeks to nominate!

Awards ceremony on 6 November at London’s Marriott Grosvenor Square

Professional Adviser
clock 18 April 2024 • 1 min read