High Earners Rely on Social Media and AI for Financial Decisions
A significant portion of high-earning individuals in the UK are turning to social media and artificial intelligence (AI) for guidance on major financial decisions, according to new research. This trend highlights a growing reliance on digital platforms for investment advice, even as many admit to lacking a full understanding of the risks involved.
The study, conducted by wealth platform Sidekick, surveyed Britons earning £100,000 or more about their investment choices. It revealed that nearly one third of these high earners admit to pretending they understand key financial decisions involving large sums of their own money. The result? Half of them end up losing cash due to these misinformed choices.
Relying on Social Media and AI
Twenty-four percent of respondents now rely on AI tools for financial guidance, while three in ten turn to social media for advice. One in three also admitted to making investment decisions involving £10,000 or more that they later regretted. Moreover, over 82 percent of high earners said they feel anxious about their financial future.
Matt Ford, cofounder and CEO of Sidekick, explained that “success increases the pressure” on high earners, which may help explain the findings. He noted that earning more does not automatically equate to feeling more secure. In fact, success often brings increased pressure, especially when individuals receive large bonuses or see their balances grow rapidly.
“The fear of making a costly mistake becomes more real,” Ford said. “That’s often when regret creeps in—especially if decisions are rushed or based on incomplete understanding.”
The Gap Between Perception and Confidence
Ford pointed out that there is a growing gap between how successful people appear on paper and how confident they actually feel. Pretending to understand risk, fees, or structure is far more common than people admit, and this can lead to expensive mistakes.
He emphasized that while social media can be a useful starting point, it should not be the basis of an investment strategy. “Finfluencers” are optimized for views, not for protecting long-term wealth, he warned.
“When you’re making decisions involving tens or hundreds of thousands of pounds, you need reliable, trusted guidance.”
Key Financial Trigger Moments
Sidekick’s research also explored the key moments when high earners say money starts to feel more serious. Forty-four percent of respondents cited receiving a large bonus as the most common trigger, followed by a significant pay rise at 41 percent. Investment balances growing larger than they felt comfortable managing came in third at 31 percent.
Other triggers included selling a property (28 percent), receiving a business payout (26 percent), and inheriting money (22 percent). Other tipping points include making a major career change (23 percent) and reaching a milestone age (28 percent). Nearly one third also said their money had outgrown the platforms or tools they were using.
On average, respondents said investing starts to feel important around the age of 33, and when portfolios reach roughly £51,000.
Avoiding Impulsive Financial Decisions
Mr. Ford stressed the importance of avoiding impulsive financial decisions. He advised, “Don’t rush because it feels urgent. Large bonuses or lump sums create pressure to act quickly, but the best decisions are rarely made in a hurry.”
He added:
“Give yourself time to think through strategy rather than reacting emotionally. If you don’t understand it, don’t invest in it. Confusion is a warning sign, not a challenge to overcome. If you can’t clearly explain how something works, what the risks are, and how it makes money, pause before committing capital.”
“Stress-test where your information is coming from. Social media and AI can be useful starting points, but they shouldn’t be your investment strategy. Short clips and hot takes rarely explain the full risks involved.”
“As your money grows, your setup should evolve too. The tools and platforms that work when you’re investing small amounts don’t always make sense once portfolios become meaningful. That’s often the moment to reassess your approach.”
