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Saturday, November 25th, 2017

60 PERCENT SINGAPOREANS ACCEPT FINANCIAL COUNSEL FROM ROBO-ADVISOR

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by August 2, 2017 Medical and Health

SINGAPORE– A survey conducted by Legg Mason, a global asset management firm, shows that 60 percent Singaporean respondents are comfortable receiving financial counsel from a robo-advisor.

According to the survey result released on Wednesday, the average percentage of people in the world that accept robo-advisor is 57 percent, but the average percentage of people in Asia except Japan is 66 percent.

The survey result says Singapore leads the world in the percentage of people who use the services of a financial adviser, which is 61 percent. The figure for Asia except Japan is 56 percent, and the global average figure is 46 percent.

More and more Singaporeans are considering a hybrid advice model, where technology and online knowledge can complement advice from professionals, said Ajay Dayal, Legg Mason’s investment director.

“In Singapore the results showed a strong preference for a ‘human-led and technology supported’ approach to most areas of financial planning and execution,” he added.

Source: NAM NEWS NETWORK

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