Investors in the US want both human as well as automated advice to meet their financial requirements, according to a study by the Financial Planning Association (FPA) and Investopedia.

Findings from the study revealed that 73% of respondents are satisfied or very satisfied with their primary automated investing platform.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Of users of automated investing platform, 80% said that they are confident that the platform supports their financial planning goals.

Seventy-five percent of the respondents said that they are satisfied with the current performance of their primary investing platform. However, 40% expressed discomfort about using a robo platform during volatile times.

The study further revealed that 70% of investors are satisfied or very satisfied with their primary financial planner/adviser.

Respondents highlighted satisfaction working with traditional advisers, especially in case of particular areas of financial advice. Seventy percent of the respondents said that they are satisfied with estate planning-related service, 67% were satisfied with tax planning advice, while 66% said that they were satisfied with retirement advice.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Investors also showed a preference for advice to be given by a financial planner/advisor to address various financial issues. Thirty two percent of respondents said that they would use a financial planner/adviser for tax planning, while 39% said that they would use either for investment planning.

Investopedia CEO David Siegel said: “The debate about whether robos or human advisors will win is moot. The future of financial advice is bionic — a powerful combination of both.

“As investors get more comfortable with automated investing platforms, they’re starting to demand both the low-cost benefits such platforms provide and the irreplaceably customized and high-touch approach of financial advisors.”