The potential use of robo-advisors among the young generation: Evidence from Italy

Abstract

In this paper, we investigate the potential demand of robo-advisory among Millennials and the Generation Z. Using data from a survey that we designed and fielded in Italy, we show that individuals with an advanced level of financial knowledge are more likely to be potential users of robo-advisors. We also find that only online activities that entail a financial component, such as buying online and making digital payments, are predictive of being interested in the delivery of financial advice through digital platforms. On the other end, non-financial online activities are not associated with the interest in a FinTech robo-advising tool.