Influencing Factors Of Investors’ Willingness To Adopt Robo-advisor Service By G-securities Firm

Robo-advisor,is an online investment advisory program,is also a new investment and financial experience for investors.Its main purpose is to bring personalized intelligent asset management methods to investors through financial technology,combining big data mining,mass technology models and intelligent algorithms with the past manual investment.At present,the researches on Robo-advisor mainly focus on the concept definition,development,risk,related policies and supervision of Robo-advisor,and there are few researches on the influencing factors of investors’ willingness to adopt Robo-advisor service.Some domestic scholars have proposed that the development of Robo-advisor needs to combine the advantages of fintech and traditional manual investment advisory: the advantages of computer in model optimization and data processing,and the extensive experience of manual investment advisory in model construction.In this paper,based on the perceived value model(VAM),aiming at the characteristics of G securities firm’s Robo-advisor,integrating the theory of technology adoption and innovation diffusion,the model of influencing factors of investors’ willingness to adopt Robo-advisor service by G-securities firm is established.Through the questionnaire survey of G securities firm’s investors,the empirical research method is used to explore the influencing factors of its adoption intention.There are very few researches on the influencing factors of Robo-advisor on the adoption willingness of investors.Therefore,this study takes the factors influencing the adoption intention of the Robo-advisor client of G Securities firm as the starting point to study what factors will affect the adoption of the Robo-advisor client and how,so as to promote the rapid development of the Robo-advisor field.This study is helpful to find out the regularity of the spread and development of G Securities firm’s Robo-advisor account among investors,and enrich the application of such concepts as perceived value,innovation diffusion and technology adoption in the investment field.This study also provides a reliable theoretical model for the influencing factors of investors’ willingness to adopt Robo-advisor service by G-securities firm.It adds theoretical basis to the research field of Robo-advisor service adoption intention.On the other hand,at the practical level,it also provides realistic basis for the development of the whole Robo-advisor service business and practical suggestions for financial institutions promoting Robo-advisor service.The results show that:(1)Investors’ perception of the value of a new product or technology,the influence of social interaction on investors,and investors’ own sense of innovation have an important positive effect on their adoption of a product or technology;(2)Perceived usefulness,ease of use,and interest have a positive effect on the adoption intention by influencing the perceived value of investors;On the other hand,investors’ perception of risk and cost have a negative effect on adoption intention through the influence on perceived value.(3)The variable of household annual income has a significant difference in the influencing factors of investors’ willingness to adopt Robo-advisor Service by G-securities firm.Investors with higher household annual income have a higher intention to adopt Robo-advisor service.