Purpose

As an alternative to hiring financial specialists or investment consultants, robo-advisors offer financially automated investment services. This study aims to investigate how robo-advisors' service attributes, risk attitude and financial self-efficacy influence customers' choice preferences of adopting robo-advisors.

Design/methodology/approach

Two hundred fifty-one online surveys were used to collect data, and choice-based conjoint analysis was conducted.

Findings

Results show that increasing annual fees negatively impact customers' choice preferences. Promotion, general investment education and additional human assistance have a positive impact. Furthermore, risk-seeking and risk-averse customers require more human assistance than risk-neutral customer and customers with high levels of financial self-efficacy prefer more general investment education and additional human assistance than those with lower levels. In addition, customers in the older age group prefer promotion, general investment education and additional human assistance, while wealthy customers prefer lower annual fees, higher general investment education and more additional human assistance compared to middle-class and low-income groups.

Originality/value

This study contributes to robo-advisor providers to provide appropriate service attributes for each customer group.

中文翻译：

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机器人顾问的服务属性：基于选择的联合分析

目的

作为聘请金融专家或投资顾问的替代方案，机器人顾问提供财务自动化投资服务。本研究旨在探讨机器人顾问的服务属性、风险态度和财务自我效能如何影响客户采用机器人顾问的选择偏好。

设计/方法论/途径

使用 251 份在线调查来收集数据，并进行基于选择的联合分析。

发现

结果表明，增加年费会对客户的选择偏好产生负面影响。推广、一般投资教育和额外的人力援助会产生积极影响。此外，寻求风险和规避风险的客户比风险中性客户需要更多的人力帮助，而财务自我效能水平高的客户比财务自我效能水平较低的客户更喜欢更多的一般投资教育和额外的人力援助。此外，老年群体的客户更喜欢促销、一般投资教育和额外的人力援助，而富裕客户与中产和低收入群体相比更喜欢较低的年费、更高的一般投资教育和更多的额外人力援助。

原创性/价值

这项研究有助于机器人顾问提供商为每个客户群体提供适当的服务属性。