DIY investing: Why Americans are skipping financial advisors in 2026

What began with commission-free trading and mobile investing apps has evolved into broader access to sophisticated financial products, AI-powered investment tools, fractional shares and, increasingly, private markets that were once reserved for institutions and fund investors.

How many Americans use financial advisors in 2026?

A large share of American investors are making investment decisions without the ongoing help of a financial advisor. New YouGov data shows that just a third of American investors currently use a financial planner or advisor service (32%). Another 14% have used one in the past but no longer do. American investors here refer to U.S. adults who are currently invested in equities/bonds, mutual funds/ETFs, retirement accounts or annuities.

That leaves a sizable market of investors who are either managing their investments without a current advisor or have not yet used one. Some remain open to the idea: 22% say they are interested in using a financial planner or advisor service but have not done so. But 28% say they do not have a need for the service and are not interested in it.

But in the absence of financial advisors, how are investors making investment decisions?

Friends, financial news and YouTube lead DIY investors’ information mix

Among DIY investors — defined here as investors who do not currently use a financial planner or advisor service — informal and digital sources play a major role in investment research.

Friends, family, or colleagues are the most common source of investment information, cited by 35% of DIY investors. Financial news websites follow at 30%, while 22% say they use YouTube videos.

Workplace retirement-plan providers also play a role, with 20% of DIY investors saying they get investment information from their employer or workplace retirement-plan provider. Nearly as many use company earnings reports or investor materials (19%) and analyst reports or research notes (18%).

Brokerages are part of the information mix too, but not dominant. Some 17% say they use a broker or brokerage platform for investment information — the same share that cite social media posts or influencers.

Online forums and communities such as Reddit or Discord are used by 15% of DIY investors, the same share that turn to financial TV channels. AI tools, agents or chatbots are already used by 14%, putting them level with books or educational courses, newspapers or newspaper websites, and podcasts.

Why DIY investors don’t use financial advisors in 2026

The leading reason DIY investors give for not using a financial advisor is that they do not think they have enough money invested to need one. Some 41% select this reason, making it the most common barrier by a clear margin.

Control is another major factor. Nearly three in ten DIY investors (29%) say they prefer to have direct control over their investments. A similar share, 27%, say they do not believe the cost of an advisor is justified by the value they provide.

Confidence also plays a role. A quarter of DIY investors (25%) say they are confident in their own financial knowledge.

Trust appears to be a less common, but still meaningful, barrier. Some 11% say they do not trust financial advisors, while 7% say they have had a negative experience with an advisor in the past.

For a smaller group, technology is already part of the rationale for going without human advice. One in ten DIY investors say they can use AI to help with planning or making financial decisions.

DIY investors are confident, but find the number of financial choices available overwhelming

Two-thirds of DIY investors say they are at least moderately confident in their ability to manage their own financial decisions (67%).

For many this confidence could be stemming from knowledge – nearly half say they enjoy learning about investing, with 15% strongly agreeing and 33% agreeing.

But there are signs of friction. A clear majority say the number of financial choices available is overwhelming: 21% strongly agree and 42% agree. Only 9% disagree or strongly disagree.

This suggests that many DIY investors like learning about investing and want control over their decisions, but the volume of information available can itself become a challenge.

When it comes to how actively they manage their portfolios, 34% say they make changes to their investments when market and economic conditions change. A slightly smaller share, 29%, disagree or strongly disagree, while 33% neither agree nor disagree.

A third also say investing platforms are easy to use, including 8% who strongly agree and 25% who agree.

AI in DIY investing is yet to gain prominence

AI is not yet a dominant source of investment information among DIY investors, but it has gained some visibility. As noted earlier, 14% say they use AI tools, agents or chatbots to find out about investments. Separately, 10% say one reason they invest without a financial advisor is that they can use AI to help with planning or making financial decisions.

Attitudes toward AI are still developing. Around a quarter of DIY investors say AI is a valuable tool in creating and updating their investment strategy, with 7% strongly agreeing and 19% agreeing. But there is also a sizeable middle: 34% neither agree nor disagree, while 13% say they do not know. Another 27% disagree or strongly disagree.

This is the first article in a two-part series on DIY investing. The next article looks at how DIY investors are using AI and robo-advisors.

Methodology: YouGov Surveys: Serviced provides quick survey results from nationally representative or targeted audiences in multiple markets. This study was conducted online on June 26, 2026, with a nationally representative sample of 2420 adults (aged 18+ years) in the US, using a questionnaire designed by YouGov. The filtered sample of investors totals to 1291 adults and the sample of DIY investors amounts to 854 adults. Data figures have been weighted by age, race, gender, education, and region to be representative of all adults in the US (18 years or older), and reflect the latest population estimates from the Census Bureau’s American Community Survey.