A Study on the Awareness and Perception of Robo Advisory Services Among Investors in Pune City

Retail portfolio management service is an essential service for the effective channelization and utilization of surplus funds for economic growth of capital markets. Many investors have burnt their fingers in the capital markets by either being misled by aggressive wealth management advisors or on account of reliance on media reports and advice of friends and family.

However, these lacunae are now gradually being eliminated by the use of ROBO Advisory services. By automating financial planning, ROBO advisors emphasize on the user experience and combat the behavioral aspects of investing that can cause people to fall short of their financial goals. These programmed Robots will thus eliminate the risk of human bias or human error. The services are gradually making inroads in the Indian financial sector as well.

In the light of this, the present research endeavors to understand the awareness and perception of ROBO advisors in Portfolio Management services amongst 50 investors in Pune, Maharashtra through the interview method. The study aims to target individuals in the age group of 25 to 45 years who are generally considered to be quite technology savvy.