Nearly half of UK investors put their trust in social media, finfluencers and AI tools when making financial decisions, as unregulated sources continue to pull consumers away from professional advice.
Two-fifths of UK investors have used social media to inform financial decisions over the past two years in spite of nearly 50 per cent of consumers expressing trust in financial advisers, new research from investment platform Fidelity International found.
Just one in three investors who responded to Fidelity’s survey had used a professional qualified adviser in the past two years to inform a financial decision, while more than 60 per cent had never accessed the advice system, indicating many are unable to access professional advice.
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