As investing and personal finance become increasingly “tech-ified,” there’s rising concern that customers will eschew working with actual people.
On that note, that there’s also palpable fear that financially linked industries that have long relied on person-to-person interaction, including car buying, personal banking, residential real estate and, yes, wealth management, would be disrupted by artificial intelligence (AI).
Despite the strides made by AI and consumers’ embrace of the technology, of the industries mentioned, only car dealers (to date) have been somewhat disrupted by AI. Even with that, the National Automobile Dealers Association notes there were still nearly 17,000 dealerships across the U.S. last year.
The point is, and this is both a call to action and good news for advisors, is that consumers, including clients, want to have their cake and eat it, too. The cake is more access to technology when it comes to financial services and the consumption is knowing that when it comes to big-time decisions and purchases, that there’s a real person there to support them.
Banks, Cars Instructive for Advisors
To be clear, no one is conflating basic banking services and car buying with wealth management and the services offered by advisors, but the Santander US Paths to Financial Prosperity Q2 2026 survey of middle-income Americans contains some details about the auto purchases and banking that advisors may want to pay attention to.
“Nearly 9 in 10 (89%) say they want to manage most banking tasks digitally but have access to a branch with people who can help when needed,” notes the bank. “The survey found that consumers prefer an in-person banking experience for resolving complex issues, receiving personalized guidance and discussing important financial decisions.”
Likewise, when it comes to shopping for a new vehicle, consumers prefer the in-person experience. That may be surprising given that there are myriad ways to purchase or lease a vehicle online, but hey, consumers want what they want.
“Two-thirds of prospective car buyers say they are more comfortable shopping for and purchasing vehicles through a dealership where they can see, test drive and evaluate vehicles in person,” adds Santander. “Most say their next vehicle will come from a brand-affiliated or an independent used car dealership.”
No, advisors aren’t selling cars nor are they opening checking accounts for people, but they can provide clients and prospects with something they still covet: Human interaction and support.
Consider Who Wants the Human Touch
As noted, the Santander survey focuses on middle-income Americans. Some advisors may assume that that demographic is apt to want additional “hand holding.” However, advisors should not be hasty in dismissing that possibility because the desire for human support isn’t confined by income.
Earlier this year, HSBC released the results of a survey that queried roughly 10,000 affluent and high-net-worth people across 10 major global markets, including the U.S., noting that 37% of those polled said a human financial expert had the most impact on their biggest financial decisions.
“Clients are increasingly using AI to explore their options, but when it comes to making investment decisions, they value judgement, context, and accountability from a trusted wealth adviser,” notes Barry O’Byrne, CEO of International Wealth and Premier Banking at HBSC.
The intersection of AI and wealth management is described in compelling fashion by HSBC and it’s encouraging for advisors: AI is a confidence-builder, but advisors provide the conviction needed to move forward with major decisions.
