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The Empirical Study Towards The Acceptance of Robo-Advisory for Digital Wealth Advisor: An Indonesian University Student Perspective

Ilham Akbar Sani, Deddy Priatmodjo Koesrindartoto

Abstract


Abstract. The financial services industry is rapidly experiencing significant changes in the way the services are delivered to investors. Considering the said trends, Robo-advisors, which is digital-based advisors, have the potential future of the financial advisor industry. There is only few research providing a guideline to interpreting Robo-Advisory for digital wealth management acceptance. The author has conducted the study through an online questionnaire and using the Technology Acceptance Model (TAM). One thousand fifty-three usable responses were received, then tested with Partial Least Square (PLS). This study also examined the level of digital-savvy towards demography using an independent t-test and one-way ANOVA. The other side, the research found factors that most influence the intention to use of Robo-advisory with the two ways of the result, based on the direct result it shows that from fifteen hypotheses, three of it were rejected, and perceived usefulness and ease of use positively influence the intention to use. On the contrary, to know the indirect factors that affect the result, the outcome shows that Convenience becomes the most factors that indirectly influence the intention. The conclusion and implications provide the result for the suggestion to stakeholders of Robo-advisory in order to make a necessary service better.

Keywords: Acceptance, Robo-advisory, Innovation, Wealth Management, University Student, Digital Savviness

 


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