Americans trust financial advisors most so why is there an engagement gap?

Financial fulfillment and the advisor relationship

The study introduces the concept of financial fulfilment, defined not simply by wealth or income, but by whether a person’s financial life supports the way they want to live, including feelings of security, control and alignment with personal values. The study categorizes adults as financially fulfilled, financially conflicted or financially stressed.

The findings reveal a striking correlation between financial fulfillment and advisor use. Among financially fulfilled adults who sought guidance in the US, 60% worked with a professional financial advisor. Among those who are financially stressed and seeking guidance, that figure drops to just 14%. It is worth noting that the study does not argue that hiring an advisor causes financial fulfillment — income and net worth alone do not fully explain why some people feel financially secure while others do not. But it does suggest that financially fulfilled adults build a different kind of guidance portfolio, one that more frequently includes professional expertise alongside personal research and peer input.

For advisors, the data reinforces a recurring industry challenge: the clients who could benefit most from professional guidance are often the least likely to seek it. Financially stressed adults instead tend to rely on family (43%) and friends (28%) for advice — informal networks that may lack the expertise to address complex financial situations.

What the data means for advisors

The study underscores a persistent paradox in the US financial advice market. Americans hold professional financial advisors in higher regard than any other guidance source, yet only about one in three guidance-seekers actually consults one. Meanwhile, nearly one in five turns to AI tools they largely do not trust.

Part of this gap may reflect access and awareness. Working with a financial advisor involves cost, time and a willingness to engage; barriers that are lower for wealthier, older, and already financially stable adults. The advisor profession has made headway in recent years on transparency and fee disclosure, but the data suggests that awareness of advisor value has not fully penetrated younger and more financially vulnerable segments of the population.