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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