Robo-Advisory Services in India: A Study to Analyse Awareness and Perception of Millennials

Arti Chandani, Sriharshitha S., Ankita Bhatia, Rizwana Atiq and Mita Mehta
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Arti Chandani: Symbiosis Institute of Management Studies, Symbiosis International University (Deemed), India
Sriharshitha S.: Symbiosis Institute of Management Studies, Symbiosis International University (Deemed), India
Ankita Bhatia: Symbiosis Institute of Management Studies, Symbiosis International University (Deemed), India
Rizwana Atiq: Integral University Lucknow, India
Mita Mehta: Symbiosis Institute of Management Studies, Symbiosis Institute of Management Studies, Symbiosis International University (Deemed), India

International Journal of Cloud Applications and Computing (IJCAC), 2021, vol. 11, issue 4, 152-173

Abstract: The transcendence of automated digital services is challenging already established financial advisory services. Robo-advisory is gaining popularity where human touch is missing while making the investment decision. The present study is aimed to understand the awareness of robo-advisors amongst millennials in India along with their perception towards robo-advisory services. A self-administered questionnaire was sent out to the college students, and 288 college students responded to this. The responses were analysed using independent sample t-test, Anova, and factor analysis using IBM SPSS 22. The findings indicate that there is a lack of awareness about robo-advisors amongst college students. Measures should be taken by universities and colleges to include this as a part of the syllabus along with industry-academia partnership to create awareness as these students will be earning and investing in the next 1-3 years.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:igg:jcac00:v:11:y:2021:i:4:p:152-173

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