The impact of artificial intelligence on Wall Street has plenty of people concerned, but some financial advisors fear a much more sinister opponent. Financial advisors are right to be concerned. A 2022 survey found Gen Z was more likely to seek out financial advice from TikTok (34%) and YouTube (33%) than a financial advisor (24%). Couple that with their often obsessive consumption of social media, and you start to see why financial advisors never had a fighting chance. More on why advisors are worried about young people turning to TikTok for help with their finances.

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Persons: Dan DeFrancesco, we've, James Gorman's, Morgan Stanley, David Solomon, Goldman Sachs, Samantha Lee, Insider's Lindsay Dodgson, Z, they've, that's, Kelsey Wells, Kyle Davies, Su Zhu, Davies, Zhu, Brian, Lisa Sugar, David Solomon can't, Let's, Jeffrey Cane, Nathan Rennolds Organizations: Insider, YouTube, Arrows, Avid Capital Advisors, Wall, LinkedIn Locations: Dublin, Bali, Miami, South Beach, New York, San Francisco, Chicago, London