Purpose

Robo-advisory has become an increasingly popular asset management tool in recent decades. This paper studies the association between robo-advisor usage and perceived financial satisfaction.

Design/methodology/approach

Using data extracted from the National Financial Capability Study 2015 (NFCS2015), the present study carried out a logistic analysis that examines the association between robo-advisory and perceived financial satisfaction. This model also studies the interaction effect of age on this association.

Findings

The present study finds that robo-advisor usage is positively correlated with a person’s perceived financial satisfaction after controlling for covariates related to financial literacy and other demographic factors. Moreover, the present study reveals that age moderates the association between robo-advisory usage and financial satisfaction. The results are robust after regressing financial satisfaction on robo-advisory by different age groups.

Originality/value

This paper extends existing literature on robo-advisory by showing that robo-advisory usage relates to a higher level of financial satisfaction. This finding helps understand the rapidly increasing trend of robo-advisory in the financial industry. Moreover, the present study reveals a moderate effect of age on the association between robo-advisory usage and perceived financial satisfaction.

中文翻译：

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检查机器人咨询与财务满意度之间的关联

目的

近几十年来，机器人咨询已成为一种越来越流行的资产管理工具。本文研究了机器人顾问的使用与感知财务满意度之间的关联。

设计/方法论/途径

本研究使用 2015 年国家财务能力研究 (NFCS2015) 中提取的数据进行逻辑分析，检验机器人咨询与感知财务满意度之间的关联。该模型还研究了年龄对这种关联的交互作用。

发现

本研究发现，在控制与金融知识和其他人口因素相关的协变量后，机器人顾问的使用与个人的财务满意度呈正相关。此外，本研究表明，年龄调节了机器人咨询的使用与财务满意度之间的关联。在对不同年龄段的机器人咨询的财务满意度进行回归后，结果是稳健的。

原创性/价值

本文通过表明机器人咨询的使用与更高水平的财务满意度相关，扩展了有关机器人咨询的现有文献。这一发现有助于了解金融行业机器人咨询快速增长的趋势。此外，本研究揭示了年龄对机器人咨询使用与感知财务满意度之间的关联有中等影响。