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Who Likes Robo Advice and Why

Who likes to use robo services? Are they just people with no money? Or millennials? Is that just two ways of saying the same thing? Or is there something else going on? 

Turns out that the appeal of robo-advice (for investments, at least) is wider than just millennials, and the users of the service do have money. Higher proportions of women, particularly young women, use robo-advice. Also, higher proportions of Asians (and this data being US) Hispanics use robo-advice. Link


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Fascinating piece of research. I particularly like the idea that this gets financial services to people who don't think the traditional route is for them.
"Robo embracers are more diverse in terms of gender and race relative to the general investing population, indicating a clear opportunity for digital advice providers to reach out to otherwise under-served population segments."

Russell Hutchinson

You are right, particularly to identify that comment: " otherwise under-served population segments." Why are they under-served? Why would a person prefer a robot to a human? Sometimes, it is simply because they would rather not be judged :-)

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