As an integration of e-commerce and traditional financial service, robo-advisor is a promising product that recommends portfolios to individual investors based on modern technologies. However, this industry faces many challenges such as slow adoption and distrust from customers. This paper extends prior literatures in robo-advisor by exploring trust influencing factors and their detailed sub-factors from the perspective of five dimensions of trust. In this study, we not only validated previous factors of trust in the context of robo-advisor, but also found several new factors influencing customers’ feelings. A conceptual model is further proposed. The data analysis is based on semi-structured interviews with 27 investors. Understanding trust factors of robo-advisor helps the service vendors provide a better product for individual investors and facilitates faster adoption behavior from customers, which promotes further development of the industry.
Guo, Fei; Cheng, Xusen; and Zhang, Yihui, "A Conceptual Model of Trust Influencing Factors in Robo-Advisor Products: A Qualitative Study" (2019). WHICEB 2019 Proceedings. 48.