Robo advisors are unpopular amongst Germans, Statista survey shows

Tuesday 9 November 2021 13:27 CET | News

Germany-based market and consumer data company Statista has released results from a Statista Global Consumer survey on the usage rate of digital investment advisors in Germany.

This study collected data between July 2020 and September 2021 from 3055 respondents in Germany between the ages of 18 and 64. According to the survey results, only 13% of survey participants in Germany have already sought advice from a robo advisor. And from these, however, only a little less than half did this within the past twelve months.

Almost half, 49%, responded that they do not plan and do not want to seek financial advice from a robo advisor. The authors conclude from this that digital investment advice and portfolio management are rather unpopular in this country. However, every fourth respondent can imagine receiving advice from a robo advisor on financial issues in the future. Internationally, the usage situation looks different. In India, China and Russia, for example, the advice rate from robo advisors is over 30%. 

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Keywords: report, study, mobile banking, artificial intelligence
Categories: Banking & Fintech
Countries: Germany
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Banking & Fintech

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