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Robo-Advisory Services in India: A Study to Analyse Awareness and Perception of Millennials

Robo-Advisory Services in India: A Study to Analyse Awareness and Perception of Millennials

Arti Chandani, Sriharshitha S., Ankita Bhatia, Rizwana Atiq, Mita Mehta
Copyright: © 2021 |Volume: 11 |Issue: 4 |Pages: 22
ISSN: 2156-1834|EISSN: 2156-1826|EISBN13: 9781799862475|DOI: 10.4018/IJCAC.2021100109
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MLA

Chandani, Arti, et al. "Robo-Advisory Services in India: A Study to Analyse Awareness and Perception of Millennials." IJCAC vol.11, no.4 2021: pp.152-173. http://doi.org/10.4018/IJCAC.2021100109

APA

Chandani, A., Sriharshitha S., Bhatia, A., Atiq, R., & Mehta, M. (2021). Robo-Advisory Services in India: A Study to Analyse Awareness and Perception of Millennials. International Journal of Cloud Applications and Computing (IJCAC), 11(4), 152-173. http://doi.org/10.4018/IJCAC.2021100109

Chicago

Chandani, Arti, et al. "Robo-Advisory Services in India: A Study to Analyse Awareness and Perception of Millennials," International Journal of Cloud Applications and Computing (IJCAC) 11, no.4: 152-173. http://doi.org/10.4018/IJCAC.2021100109

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Abstract

The transcendence of automated digital services is challenging already established financial advisory services. Robo-advisory is gaining popularity where human touch is missing while making the investment decision. The present study is aimed to understand the awareness of robo-advisors amongst millennials in India along with their perception towards robo-advisory services. A self-administered questionnaire was sent out to the college students, and 288 college students responded to this. The responses were analysed using independent sample t-test, Anova, and factor analysis using IBM SPSS 22. The findings indicate that there is a lack of awareness about robo-advisors amongst college students. Measures should be taken by universities and colleges to include this as a part of the syllabus along with industry-academia partnership to create awareness as these students will be earning and investing in the next 1-3 years.

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