Women adopting to robo-advice quicker than men
/A new survey shows that Americans enjoy robo advice more than Australians, with women more likely to use electronic, automated financial advice then men.
The Investment Trends Robo-advice Report surveyed almost 20,000 online investors across Australia, the US, UK, Spain, Germany, France, Singapore and Hong Kong.
Key findings of the study include:
Twenty-three per cent of online investors in the US are using robo-advice services compared with seven per cent of Australian online investors
Almost 30 per cent of US female online investors were using automated advice, versus 22 per cent of male online investors
Forty per cent of female online investors said they would consider adopting robo-advice services in the future, compared with 36 per cent of their male counterparts
Women are more likely to prioritise the user interface (55 per cent of women versus 49 per cent of men) and education initiatives (40 per cent versus 34 per cent), but are less likely to focus on fees (41 per cent versus 53 per cent)
Demand for automated micro-savings services (such as Raiz) were gaining traction in Australia
Thirty-eight per cent of Australian online investors are considering using robo-advice in the future
