{"id":79553,"date":"2025-10-03T10:36:04","date_gmt":"2025-10-03T00:36:04","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=79553"},"modified":"2025-10-07T11:46:22","modified_gmt":"2025-10-07T00:46:22","slug":"younger-australians-more-open-to-ai-advice-than-boomers","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2025\/10\/03\/younger-australians-more-open-to-ai-advice-than-boomers\/","title":{"rendered":"Younger Australians More Open to AI Advice than Boomers"},"content":{"rendered":"<p>A consumer survey carried out by the FAAA for its <a href=\"https:\/\/faaa.au\/wp-content\/uploads\/2025\/09\/Value-of-Advice-2025.pdf\" target=\"_blank\" rel=\"noopener\"><i>Value of Advice<\/i><\/a> report shows Baby Boomers are less open to AI advice, while Generations Z and Y are far more comfortable with it.<\/p>\n<p>When given the choice between fully digital advice, human-led advice, or a hybrid advice model, most consumers said they prefer a traditional adviser relationship with limited use of digital tools.<\/p>\n<p>The majority of respondents say the qualities they most value in (human) advisers include:<\/p>\n<ul>\n<li>Personal guidance (64%)<\/li>\n<li>Experience and judgment (63%)<\/li>\n<li>Emotional support and trust (59%)<\/li>\n<\/ul>\n<p>Many also feel the same way about tailored risk assessment (34%) and motivation to follow through on financial plans (32%). These views are particularly strong among advised clients compared with the unadvised.<\/p>\n<blockquote><p>&#8230;very few Australians are interested in purely digital advice models&#8230;<\/p><\/blockquote>\n<p>While close to half of surveyed consumers are comfortable with AI for administrative tasks, one in five are not, and around a third remain unsure.<\/p>\n<p>\u201cIt\u2019s clear that very few Australians are interested in purely digital advice models and still require involvement of human advisers,\u201d states the report.<\/p>\n<p>The survey also reinforces that advised Australians are consistently better off than their unadvised peers, regardless of age or wealth.<\/p>\n<p><strong>Advice index<\/strong><\/p>\n<p>The FAAA\u2019s <i>Value of Advice Index<\/i> measures the financial and non-financial benefits of advice and states that clients who work with an adviser enjoy:<\/p>\n<ul>\n<li>A higher quality of life\n<p><figure id=\"attachment_79555\" aria-describedby=\"caption-attachment-79555\" style=\"width: 200px\" class=\"wp-caption alignright\"><a href=\"https:\/\/faaa.au\/wp-content\/uploads\/2025\/09\/Value-of-Advice-2025.pdf\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-79555\" src=\"https:\/\/riskinfo.com.au\/news\/files\/2025\/10\/Value-of-Advice.png\" alt=\"Click image to download the full Value of Advice report.\" width=\"200\" height=\"284\" srcset=\"https:\/\/riskinfo.com.au\/news\/files\/2025\/10\/Value-of-Advice.png 250w, https:\/\/riskinfo.com.au\/news\/files\/2025\/10\/Value-of-Advice-211x300.png 211w\" sizes=\"auto, (max-width: 200px) 100vw, 200px\" \/><\/a><figcaption id=\"caption-attachment-79555\" class=\"wp-caption-text\">Click image to download the full Value of Advice report.<\/figcaption><\/figure><\/li>\n<li>Stronger emotional wellbeing<\/li>\n<li>Greater sense of purpose<\/li>\n<li>Stronger social connections<\/li>\n<li>Better health<\/li>\n<li>Reduced financial stress<\/li>\n<\/ul>\n<p>\u201cThey have greater financial confidence, financial satisfaction, and feel that financial advice has made them tangibly better off, with the value clearly outweighing the cost,\u201d states the report.<\/p>\n<p>The report&#8217;s authors also state that while the cost-of-living crisis and ongoing economic volatility continue to weigh on many households, the perceived value of advice has strengthened.<\/p>\n<p>&#8220;The value of advice indicators observed last year have been sustained with a growing gap between the experience of the advised and unadvised,&#8221; states the report.<\/p>\n<p>&#8220;In fact, the perceived value of financial advice has notably increased among clients \u2013 not just despite market uncertainty but because of it.\u201d<\/p>\n<p>However, barriers to working with a financial adviser remain the same, states the report, and include the perception that it\u2019s too expensive, is only for rich people and others who feel their circumstances do not justify the need.<\/p>\n<p>&#8220;This year, we have once again been able to systematically bust these myths.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A consumer survey carried out by the FAAA for its Value of Advice report shows Baby Boomers are less open to AI advice, while Generations Z and Y are far more comfortable with it. When given the choice between fully digital advice, human-led advice, or a hybrid advice model, most consumers said they prefer a [&hellip;]<\/p>\n","protected":false},"author":23,"featured_media":79556,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8286,48,3],"tags":[],"class_list":{"0":"post-79553","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-ai","8":"category-company-news","9":"category-general"},"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/79553","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/users\/23"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=79553"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/79553\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/79556"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=79553"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=79553"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=79553"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}