Middle-income Canadians turn to trusted advisors as inflation and AI fears reshape financial habits
Most middle-income Canadians are turning away from artificial intelligence in favour of human financial guidance, with 68 percent expressing no interest in using AI tools for budgeting, saving, investing, or retirement planning.
This finding from Primerica Canada’s Financial Security Monitor (FSM) survey underscores a critical message: trusted, personal advice remains at the heart of financial decision-making for the majority of households.
The survey reveals that this reluctance toward AI is not simply a matter of preference.
Many respondents cite trust concerns and apprehension that AI-driven financial guidance could negatively affect them.
Even among younger adults, interest in AI remains low, with only a little more than a quarter (28 percent) of middle-income Canadians open to using such tools.
The majority, regardless of age, continue to value the reassurance and expertise that comes from working with a professional.
Economic anxiety is widespread. Inflation remains the top financial concern for Canadians at all income levels, with 87 percent of middle-income households worried about paying more for everyday essentials.
Nearly three-quarters (71 percent) fear they will not have enough money to retire when they want to, and almost half (48 percent) report that their financial situation has declined over the past year.
The data also highlights the importance of comprehensive financial preparedness.
Only 16 percent of middle-income Canadians are actively engaged in all five core financial preparedness behaviours, which include saving for the future and safeguarding their families through life insurance.
Many are saving less as financial pressures mount.
Concerns about AI extend beyond personal finance.
More than half (54 percent) of respondents believe that widespread AI adoption will negatively impact their salaries and job opportunities—a worry that is especially pronounced among those with lower financial preparedness scores.
The value of professional advice is clear.
Those who work with a licensed financial professional are significantly more likely to score a “B” or higher on Primerica’s Financial Security Scorecard, demonstrating the impact of trusted, personalized guidance on long-term financial confidence and habits.
