AI alone isn't enough: Employees still want trusted financial support

• Key Insight: See why employees are adopting AI financial tools while still demanding human oversight.
• What's at Stake: Employers whose generic financial resources leave workers second-guessing critical benefits decisions.
• Forward Look: Brace for financial wellness programs that combine AI with employer-specific context.
• Source: Bullets generated by AI with editorial review

As workers increasingly turn to AI tools for financial advice, a new report finds that most still prefer the expertise of human advisers and recommendations backed by reliable data.

SAVVI Financial's Finances on Fire report found that 64% of employees would use an employer-provided AI financial guidance tool, but 81% still want a real person to review its recommendations.

"Large language models are incredibly good at explaining concepts and summarizing information, but they don't know an individual's employer-sponsored benefits, healthcare utilization, retirement savings, tax situation, or broader financial goals," said Brian Harrison, president of SAVVI Financial, a financial wellness technology company.

"And even with all of those inputs there's still risk that the model isn't properly trained to provide quality guidance," he said. "Without that context, even well-intentioned advice can miss critical factors that materially change the right decision."

That lack of personalized context can leave workers second-guessing their choices: 46% made a financial decision in the past year they later regretted. Of those, 42% said they had no way to evaluate how that decision would affect their broader financial picture before making it. Among employees who made benefits- or retirement-related decisions in the past year, 41% sought support from an AI tool, while 39% sought assistance from HR or a benefits portal.

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"AI, and technology in general, is well suited for providing immediate, personalized guidance at scale," Harrison said. "It can answer routine questions, explain benefit options, model scenarios, and help employees understand the financial implications of different choices whenever they need support."

"Human advisors become especially valuable for more complex or emotionally significant decisions, retirement planning, major life events, or situations where employees want reassurance before acting. While AI can 'listen' or even perhaps 'empathize' it's not the same as what a person can provide," he continued. 

The Finances on Fire survey, conducted by SAVVI in May, included more than 600 full-time U.S. employees ages 25 to 60 who are eligible for employer benefits.

Trust remains key

The trust workers place in employer-sponsored financial resources creates an opportunity to pair technology with personalized support that helps employees better understand their full financial picture, according to SAVVI's research.

The majority of employees said they would share their financial information to receive more tailored support (78%), engage more with tools that considered their entire benefits package (78%), and use a single platform showing how benefits, savings, debt and financial obligations interact (81%).

Read more: How to build a trustworthy benefits program

Yet many workers still feel employers are falling short: 73% want more advice on how to make their benefits work harder for them, 58% say employer financial resources feel generic and disconnected from their needs, and 46% received no guidance during their most recent benefits enrollment.

"Employees are telling us that's exactly what they want," Harrison said. "The goal is to help employees make better decisions by combining AI with employer-specific context and trusted financial data."

The impact of financial stress

SAVVI's report also looked at how financial stress is becoming more pervasive in the workplace: Just 5% of employees currently describe themselves as financially secure. 

The burden is felt more strongly among certain groups. Women were 32% more likely than men to report high financial stress, while single people were 44% more likely than married respondents to report high financial stress. Parents, meanwhile, were 23% more likely than employees without children to say they've experienced a financial disruption in the past 12 months.

Read more: Middle managers burning out due to AI, other mounting pressures

Among the biggest drivers of financial stress were rising cost of living and inflation (82%), growing debt (48%), economic and recession concerns (41%), supporting family members financially (25%), and job insecurity (24%). 

"Financial wellness has evolved beyond siloed health and wealth-focused education," Harrison added. "Employees need personalized, connected guidance that helps them make better decisions throughout their daily lives. With the right technology, organizations that invest in helping employees navigate financial complexity can substantially reduce workforce stress, improve employee satisfaction, and strengthen business outcomes."