Financial Advisors Boost Worker Well-Being More Than AI Or Social Media

New MissionSquare Research Institute study finds one-third of public service workers want an advisor but do not have one

WASHINGTON, Oct. 13, 2026 — The MissionSquare Research Institute recently released a new report, Information Sources and Financial Well-Being: Who Uses What, and Why It Matters, authored by Eric Ludwig, Ph.D., CFP^®, RICP^®, of The American College of Financial Services; Martin Seay, Ph.D., CFP^®, of Kansas State University; and Zhikun Liu, Ph.D., CFP^®, of the MissionSquare Research Institute. The report finds that American workers who turn to a financial advisor for guidance report meaningfully higher financial well-being than those relying on AI tools, social media, or family and friends, even after accounting for income, education and other demographics.

The findings offer a timely perspective for employers and plan sponsors navigating a rapidly evolving financial advice landscape, including:

• Workers who rely on a financial advisor report noticeably higher financial well-being than those who turn to social media for financial advice, and advisors had the biggest impact on well-being of any information source studied, even after researchers accounted for factors such as income and education.
• Even so, nearly one in three workers (32%) say they want access to a financial advisor but do not currently have one.
• Only 8% of workers turn to AI or robo-advisors for financial guidance, and those who do are not any better off financially as a result. By contrast, 37% turn to a financial advisor.
• Personal finances are workers’ top source of stress, cited by 52% of respondents — ahead of the economy (49%) and career concerns (46%).

“Our research shows that access to a trusted financial advisor can make a real difference in how secure individuals feel about their finances,” said Dr. Liu, head of MissionSquare Research Institute. “As the world of AI continues to advance and new tools emerge, these findings reinforce that AI is not yet a substitute for professional human guidance. With nearly a third of workers wanting an advisor but not having one, employers and plan sponsors have an opportunity to help close that gap.”

The study represents data collected in December 2025 from 2,020 full-time workers: 1,016 state and local government employees and 1,004 private sector employees. All respondents were age 18 or older.

For more of the report findings, and greater access to research from the Institute, visit the website at research.missionsq.org.

About MissionSquare Research Institute

MissionSquare Research Institute identifies and advances best practices in retirement planning, financial wellness and workforce development strategies to help meet the evolving needs of the public and private sector workforce. Through rigorous, data-driven research, in collaboration with industry-leading thought leaders and academics, the Institute delivers actionable insights and innovative strategies that support. MissionSquare’s broader mission to help all individuals and their families build financial security.

About MissionSquare

Since its founding in 1972, MissionSquare has remained dedicated to its mission of helping all individuals and their families build financial security. As a mission-based financial services company, we manage and administer over $72.2 billion in assets.* Our commitment to providing service, technology and investment solutions designed to support the needs of the organizations and individuals we serve sets us apart. For more information, visit missionsquare.com.

*As of Sept. 30, 2026. Includes 457(b) plans, 401(a) plans, 403(b) plans, Retirement Health Savings plans, Employer Investment Program plans, affiliated IRAs, and investment-only assets.