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

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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)

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.

Suggested Citation

  • Arti Chandani & Sriharshitha S. & Ankita Bhatia & Rizwana Atiq & Mita Mehta, 2021. "Robo-Advisory Services in India: A Study to Analyse Awareness and Perception of Millennials," International Journal of Cloud Applications and Computing (IJCAC), IGI Global, vol. 11(4), pages 152-173, October.
    • Handle: RePEc:igg:jcac00:v:11:y:2021:i:4:p:152-173
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