UK millennials embrace robo-advice more than global peers, research

Young investors trust robo-advice

Carmen Reichman
clock • 2 min read

Young investors in the UK are embracing robo-advice more than their global peers, placing almost as much trust in the online channel as in face-to-face advice, according to a survey.

UK millennials came out "keenest" globally on online advice solutions after 85% said they were comfortable with robo-advice, according to the Legg Mason Global Asset Management 2016 Global Investment Study. The vast majority (80%) said they would trust online advice, coming second to only US-based millennials, of which 82% put their trust in online channels. The firm surveyed about 1,000 investors aged between 18 and 39 globally throughout December and January. On average, 59% of millennials expressed comfort with robo-advice, with 63% trusting it. In Europe, 70% of millennials sai...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Technology

FCA to support firms to overcome challenges in implementing AI

FCA to support firms to overcome challenges in implementing AI

Regulator launches an ‘AI Lab’

Isabel Baxter
clock 17 October 2024 • 3 min read
Scenario planning: Lessons from the CrowdStrike outage

Scenario planning: Lessons from the CrowdStrike outage

How can we prepare for potential similar outages in the future?

Ollie Dent
clock 07 October 2024 • 4 min read
Real-time evaluation: Let AI be your portfolio's personal trainer

Real-time evaluation: Let AI be your portfolio's personal trainer

Technology is transforming the landscape of portfolio management

Tony WIlkinson
clock 03 October 2024 • 3 min read