82% prefer working with a human financial professional over an algorithm
Middle-income Canadians are signaling a strong preference for human financial guidance over artificial intelligence, according to the latest data from Primerica Canada’s Financial Security Monitor™ (FSM™) survey.
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Despite the rapid growth of digital tools, the survey found 68% are not interested in using AI tools for personal financial tasks such as budgeting, saving, investing or retirement planning. This reluctance runs deeper than mere preference — it reflects broader trust concerns and apprehension that AI adoption aimed at providing financial guidance could have a negative impact on them.
“Middle-income Canadians are facing increasing financial pressure, and many are saving less as a result,” said John A. Adams, CEO of Primerica Canada. “The fact that most of these households prefer human advice over AI shows just how much they value trusted, personal guidance in challenging times.”
The survey also highlights broader anxiety around the economy, with inflation remaining the top financial concern for Canadians at all income levels. The majority (87%) of middle-income households worry about paying more for everyday essentials, and nearly three-quarters (71%) fear they won’t have enough money to retire when they want to.
At the same time, only 16% of middle-income Canadians are actively engaged in all five core financial preparedness behaviors, which include saving for the future and safeguarding their families through life insurance.
“The results demonstrate that access to trusted financial advice is more important than ever and securing it should be within reach of everyone,” Adams said. “No matter their income level, families can benefit from working with a licensed financial professional. Personalized guidance can help them build long-term financial habits, improve confidence and stay on track toward their goals.”
Key Findings from Primerica Canada’s Financial Security Monitor™ Survey
- Many say their financial situation is getting worse. Nearly half (48%) of middle-income Canadians report their financial situation has declined over the past year.
- Interest in AI tools to help with personal financial tasks remains low even among younger Canadians. Only a little more than a quarter (28%) of middle-income Canadians say they are interested in using AI for financial help. Even among younger adults, a majority express little to no interest in using AI.
- Most worry AI will hurt their careers. Many middle-income Canadians fear AI’s broader economic impact. More than half (54%) believe widespread AI adoption will negatively affect their salaries and job opportunities — a concern especially pronounced among those with lower financial preparedness scores.
- Professional financial advice pays off. Those who work with a licensed financial professional are significantly more likely to score a “B” or higher on Primerica’s Financial Security Scorecard, highlighting the value of trusted, personalized guidance.
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