Investors choosing a robo-adviser are far more likely to be influenced by price and ease of use than they are by brand, a survey has found.
According to the Legg Mason 2017 global investment survey, just over a fifth of respondents in the UK said price and fees were the most important consideration, whereas 4% said brand would be their primary concern.
Third on the priority list was fee transparency and simplicity, which were key considerations for 8% of respondents.
Legg Mason surveyed over 15,000 respondents around the globe.
Justin Eede, head of Europe and Americas distribution at Legg Mason, said robo-advice was becoming more prominent in the UK.
“Perhaps it is intuitive that investors selecting online investment services are prioritising price and ease of use above all else, but it is interesting to note how little weight they are giving to brand.
“We will see how the market in the UK develops but the findings suggest that, right now, investors simply want online services that are low-cost, easy to use and transparent.”
©2017 funds europe
