The fourth quarter of 2017 saw UK investment grow by 1.1 per cent to a total of £84.1 billion, representing a total yearly increase of 4 per cent on 2016. This was higher than any other G7 country – in Italy the increase was 3.7 per cent, while in the US it was 3.1 per cent. The trend looks set to continue well into 2018, and with it, an array of digitised tools that aim to speed up the end to end process of investment in 2018 and beyond by facilitating it all online. But at what cost? And where does the vital component of “the human factor” feature for a stggering 89% of UK investors who do not trust robo-advisors?
The emergence of ‘robo advisers’ – automated investment management programs that provide digital financial advice based on mathematical rules and algorithms – has represented a recent trend to emerge within the UK investment arena. Utilising software to automatically allocate, manage and optimise clients’ assets, these e-intermediaries aim to reduce the amount of human contact investors receive in a bid to condense the investment process.
Tomorrow we will be launching our new report analysing the impact of robo-advisers on investor sentiments in 2018. The industry first research will reveal a propensity for investors, both retail and sophisticated, to remain overwhelmingly committed to human interaction over any other form of intermediary service in relation to our financial decisions.
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