Abstract
In Malaysia, robo-advisory services have become increasingly popular in the financial industry. This study examines the factors that determine the intention to use robo-advisory services in Malaysia, including the performance expectancy, effort expectancy, social influence, facilitating conditions, hedonic motivation, price value, and trust. The target respondents of this study are individuals from the M40 income group in Malaysia. A total of 400 responses was collected and analyzed through Partial Least Squares Structural Equation Modelling (PLS-SEM) using SmartPLS software. The findings demonstrated that performance expectancy, social influence, hedonic motivation, price value, and trust are significant in affecting the behavioral intention to use robo-advisory services in Malaysia, except for effort expectancy and facilitating conditions, which showed an insignificant result. Moreover, this study would contribute to the understanding of the emergence of robo-advisory services in Malaysia and provide practical and theoretical implications for portfolio managers, robo-advisory firms, and researchers to aid in the future development of robo-advisory services and the financial industry in Malaysia.
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