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Who uses robo‐advising and how?

Author

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  • Vishaal Baulkaran
  • Pawan Jain
Abstract
Using propriety data from a large Indian robo‐advisory firm, we show that users of robo‐advisory services are relatively young, predominantly male, married, small investors, and professionals. We show that the majority of small retail investors utilize a systematic investment plan (SIP). Additionally, we document that there are differences in demographic characteristics, occupation, and geographic location of investors in utilizing SIP versus one‐time lump sum investments. Furthermore, we find that daily user account creation increases during periods of high market volatility.

Suggested Citation

  • Vishaal Baulkaran & Pawan Jain, 2023. "Who uses robo‐advising and how?," The Financial Review, Eastern Finance Association, vol. 58(1), pages 65-89, February.
    • Handle: RePEc:bla:finrev:v:58:y:2023:i:1:p:65-89
    DOI: 10.1111/fire.12324
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    References listed on IDEAS

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    Cited by:

    1. Zhu, Hui & Vigren, Olli & Söderberg, Inga-Lill, 2024. "Implementing artificial intelligence empowered financial advisory services: A literature review and critical research agenda," Journal of Business Research, Elsevier, vol. 174(C).

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