The Rise of DIY Wealth Management— Nearly Half of All Americans Are Deleting Their Finance Apps Thanks to AI Platforms Like Origin

Americans are deleting their financial management apps en masse as they seek to simplify their finances with AI-powered, all-in-one solutions.

According to a recent survey conducted by Origin Financial, 85% of respondents use multiple personal financial apps and 44% use 4 or more. The most popular among them, according to the survey, are banking apps, followed by investment, budgeting, credit monitoring, and tax apps. In fact, 56% have their savings and assets spread across four or more online accounts.

At the same time, according to Origin’s survey, 47% have deleted a personal finance app in the last six months, and 80% of those who have said they’ve gotten rid of multiple. Of those who have deleted a finance app from their phone in the last 6 months, 70% said it was because they either had too many apps to manage or didn’t find its features useful.

“Not long ago you needed to be a high net worth individual to have access to some of these services, and even those who did never had this level of on-demand service,” explains Origin CEO Matt Watson. “The democratization of digital financial services, however, has also led to a certain degree of financial app fatigue, and people are now starting to get frustrated with how many platforms they need to manage their money.”

Watson explains that many American adults now dedicate an entire folder on their phone to all the various banking, budgeting, estate planning, credit tracking, investing, and other financial tools. With so many different point-solutions, users are often less than clear about where their money is, and what kind of fees they’re paying to manage it. According to the survey, only 43.5% say they are “very aware” of the fees associated with their various accounts.

There is also a certain degree of frustration with the lack of interconnectivity between these different solutions, says Watson.

“Your budgeting app doesn’t know that your credit score is improving, your investment app doesn’t know that you’re saving for a new home, and your tax app doesn’t know anything about your balance sheet,” he says. “The more spread out everything is, the less helpful each one can be on their own.”

Origin, which seeks to be that AI-driven jack-of-all-trades, is part of a growing class of “super apps” that leverage advancements in AI to offer a single solution that can ingest more data to give users more tailored advice. According to the survey, 69% of respondents say they are willing to use AI to help them manage their money.

“AI-platforms can now offer a seamless experience where all financial tasks are interconnected,” Watson says. “This integration allows users to make more informed decisions, plan better, and ultimately take great control over their finances.”

According to Watson, Origin’s holistic approach allows members not only to understand their financial situation, but also to take confident action on personalized strategies for wealth-building with offerings like high-yield cash accounts, automated index investing, and thematic stock bundles, and a mix of AI and expert driven guidance.

Origin’s new AI sidekick is transforming the role of financial advisors and wealth managers by automating a range of tasks. It offers proactive notifications on market movements — such as alerting a user when a stock holding is up by a significant percentage and summarizing the news about why the surge may have happened. In just a few seconds, a member can get a recommendation on how to rebalance their portfolio to potentially de-risk their investments or create a plan to save for retirement. They can see what they’re paying in AUM fees across all of their investment accounts or what’s driving a sudden increase in spending. Members actively collaborate and create their financial plans together with Origin, and if they want an additional level of support they can meet with a human financial professional.

At the same time, Watson acknowledges that some personal finance decisions are too important to trust to an automated system, which is why his platform also offers some of those more traditional financial services.

“AI is great for managing the day-to-day aspects of your financial life — for life’s small moments, so to speak,” he says. “Whereas for life’s big moments, Origin has a team of human financial advisors who are available to meet with members 1:1.”

According to Origin’s survey, 57% of those who work with a financial advisor say their net worth has increased by 50% or more highlighting the importance of that hands-on advice.

“It just goes to show you how much of an advantage the wealthiest have historically had,” Watson says. “Now anyone can employ the same strategies, guidance and advice to use their money to make more money.”

While these tools can be adopted by individuals, Watson says many of the country’s largest startups and employers are already using Origin to help their employees gain access to financial wellness benefits. Before both Reddit and Instacart filed IPOs, both opted to partner with Origin to ensure that their employees were able to effectively manage the anticipated windfall wisely, circumventing the traditional Wall Street money managers that often swoop in during such deals.

“There is a new generation that is building its wealth through technology products that feels more comfortable managing that wealth with technology products,” says Watson. “At the same time, you no longer need to be a millionaire to enjoy that degree of insights and personalized services.”

Watson believes the consolidation of financial management into super-apps marks the next step in the evolution from early online banking to robo-advisors and point solutions as we move into the AI-era. “Its holistic approach allows members not only to understand their financial situation but also to take confident action on personalized strategies for wealth-building.”

This article is sponsored by Origin Financial. Origin Investment Advisory LLC, a subsidiary of Origin Financial, is a Registered Investment Adviser with the SEC. As such, there is an inherent conflict of interest in promoting our services. We encourage readers to consider this relationship when evaluating the information presented. Advisory services are offered through Origin Advisory Services LLC (“Origin RIA”), a Registered Investment Adviser registered with the Securities and Exchange Commission and a wholly-owned subsidiary of Blend Financial Inc. DBA Origin Financial. Origin RIA’s registration as a Registered Investment Adviser does not imply a certain level of skill or training. The information contained herein should in no way be construed or interpreted as a solicitation to sell or offer to sell advisory services. All content is for information purposes only. It is not intended to provide any tax or legal advice or provide the basis for any financial decisions.