Using representative US investor data, we investigate whether automated financial advisors, also referred to as robo-advisors, reduce investors' demand for human financial advice offered by financial service providers. Our results provide a strong negative relationship between using...

Investing through online automated platforms, known as robo-advisors, is increasingly popular. Robo-advisors expand access to wealth management services by making it easier and less costly to open investments accounts and receive financial advice, as well as plan and automate investment...

Investors increasingly can obtain assistance from "robo-advisors," artificial intelligence - enabled digitalized service agents imbued with anthropomorphic design elements that can communicate using natural language. The present article considers the impact of anthropomorphized robo-advisors on...