Consumers trust robo-advice, to a point

Previous | Next   UK savers will limit their use of robo-advice to investments under £1,000, according to new research. This is an area gaining traction Stateside, but a study carried out by online investment site True Potential Investor shows that fewer than 10% of Brits would invest more than £5,000 in this way. Only 22% would trust ‘robo-advice’ as a full replacement to a professional financial adviser. David Harrison, Managing Partner at True Potential, says: “Technology certainly has a big role in the future of personal financial management and advice, but we are not there yet. None of the technology on the market can truly be described as robo-advice, which would require very sophisticated artificial intelligence to work properly. Technology enables consumers to make small investments where it would not…


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