Survey shows employees favor advisors for complex decisions even as online tools gain traction
A growing array of digital tools is reshaping how employees access financial information, but most still turn to human advisors when it matters most, according to new research from UBS.
The latest Workplace Voice report highlights a workforce grappling with increasingly complicated financial decisions driven by evolving benefits, technology, and major life changes. But even as online resources expand, the preference for one-on-one guidance remains firmly in place.
The survey, based on responses from 2,000 US employees with at least $5k in investable assets, found that nearly half prefer working directly with a financial professional, while another third favor a hybrid approach that blends human advice with digital tools.
This demand is especially pronounced at the generational extremes. Baby boomers show the strongest preference for human interaction, but Gen Z workers also lean heavily toward personal guidance. Millennials and Gen X are more likely to combine digital and human sources.
Among those who favor advisors, roughly nine in 10 say professional guidance helps them make better decisions, avoid costly mistakes, and feel more secure during uncertain times.
At the same time, digital engagement is accelerating with around three quarters of respondents saying they are comfortable using online platforms for financial information, with search engines, video platforms, and AI tools becoming common sources. However, the report suggests these tools are largely complementary rather than a replacement for human advice.
Knowledge gap
A significant gap in financial knowledge is also shaping behavior. Many workers enter the workforce without formal financial education and often find financial topics overwhelming. As a result, most expect employers to play a greater role in supporting their financial well-being.
Roughly eight in 10 respondents believe companies have a responsibility to help employees improve their financial health, yet awareness of available programs remains low. Even when employers offer financial education, participation depends heavily on how well those programs are communicated and tailored to individual needs.
Personalization is critical, the report finds. Employees are far more likely to engage when guidance is relevant to their specific circumstances and tied to real-life decisions such as retirement planning or managing equity compensation.
Those areas remain major pain points. Retirement is the top financial priority for most workers, yet many lack access to employer-sponsored plans or rely heavily on basic savings accounts. Equity compensation, while widely viewed as valuable, is often seen as complex and difficult to manage.
The research also points to a looming challenge: wealth transfer. About four in 10 employees expect to receive an inheritance, but only half feel prepared to manage it. Despite the anticipated impact on their financial lives, many lack the knowledge or confidence to handle such assets effectively.
Across these trends, UBS identifies a clear opportunity for employers and financial firms. A combined approach pairing personalized human advice with scalable digital education could help employees navigate complexity while improving engagement and outcomes.
