Robo-Advisors - A New Frontier in Investment Management: An Individual Investors Perspective

Over a period of time since the establishment, robo-advisors have been a flex point. Almost all the investment management work is done with the robo advisory technology as it is being highly knowledgeable. Robo-advisory represents an innovative approach designed to offer cost-effective personalized investment services to a broad audience by leveraging algorithmic technologies. In the Indian financial sector, services have begun to gain ground as well. When a questionnaire google form was circulated in the city of Nagpur, Maharashtra around 201 financiers were found to, that showcase the understanding of robo-advisors. To understand the level of significance relationship and impact of key variables like perceived trust, perceived usability, financial knowledge and perceived effectiveness with the willingness to adopt robo advisory services, Correlation, Chisquare, reliability and ANOVA tests are conducted using SPSS. This quantitative research focuses on individual investors. The findings underscore that the investors have a limited or strong financial concepts, combined with varied perceptions of usability and trust and exhibit a significant inclination to adopt robo-advisory services as a new technique for managing their investments. This paper also suggested some ways to make robo-advisors more accessible among the investors.