Who uses roboadvisers?

According to a study of the robo-evasing industry in the United States from the company Hearts & Wallets, the use of roboadvisers is most common among families with income from $50 000 to $500 000 and younger generations. Nearly 7 from 10 millennial millionaires use roboadvisors or automated portfolios.

Who uses roboadvisers?

16% representatives of the older age group stated, that they have assets, roboadvised. This is comparable to 18% the youngest age cohort (21-27 years), who also use automated investment management solutions.

In this way, the report assumes, so that providers can consider developing robot advisors for later stages of life, Noting, that these consumers will need special features when choosing an investment, as well as broader and deeper planning opportunities.

"Robots, adapted to the needs of the older age group, can occupy an important niche in the market ", – says John Tole, Hearts Account Director & Wallet.

The researchers also analyzed the offers of roboadvisers and fintech companies in the US market., examining data from 2015 of the year. Vanguard Personal Advisor has been voted the most popular robo-advising among families with more than $1 million, while Robinhood was the most famous rookie overall and the only rookie, which has significantly increased brand awareness in the period from 2019 on 2020 year.

Research based on Hearts database & Wallets Investor Quantitative Database, including more 100 Millions of data points on purchasing patterns in 60 000 American households.

According to the National Association of Plan Advisors

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