Date: 25th January 2021

BETTER FINANCE publishes the fifth annual edition of its research into Robo Advisors following mystery-shopping covering 13 Europe-based platforms and 4 non-European ones. The Robo Advice sector continues to grow and is well-placed to provide a range of benefits for individual investors, such as considerably lower fees, better accessibility and availability, and more “independent” advice, compared to traditional advisors. Yet, the market has not grown as fast as expected, due to a generalised distrust in financial services and low financial literacy levels amongst individual investors, as well as limited public awareness of the service.