To Robo or not to Robo; that is the question
Financial Institutors have a major opportunity to educate Millennials about financial instruments. Data from our initial primary Millennial research indicates that 41% of the participants ages 21-34 do not yet have an investment philosophy, 55% would be likely or more likely to listen to a bank or credit union advisor and 21% consider themselves moderate risk takers. To gauge the interest of our Millennial research participants about Robo advisors we asked them to rate four investment process options on a 5-point scale from 'not attractive to very attractive'. Check out their responses.
Financial Institutions Insurance and Investments; commentary, insights and research from Carmen Effron, an industry insider.