Young investors in the UK are embracing robo-advice more than their global peers, placing almost as much trust in the online channel as in face-to-face advice, according to a survey.
UK millennials came out "keenest" globally on online advice solutions after 85% said they were comfortable with robo-advice, according to the Legg Mason Global Asset Management 2016 Global Investment Study. The vast majority (80%) said they would trust online advice, coming second to only US-based millennials, of which 82% put their trust in online channels. The firm surveyed about 1,000 investors aged between 18 and 39 globally throughout December and January. On average, 59% of millennials expressed comfort with robo-advice, with 63% trusting it. In Europe, 70% of millennials sai...
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