Robo-advice preferred by 4% of UK mass affluent investors, up from 1.3%: GlobalData

Robo-advisers were selected as the preferred investment provider by 4% of the UK's mass affluent population, compared to only 1.3% in 2018. Traditional players need to take notice to avoid losing clients to automated investment services, according to GlobalData, a financial data and analytics company. Robo-advisers provide financial advice online with minimal to moderate human input. Their rise in popularity is a result of players in the space continually expanding their propositions to meet consumer needs.  Sergel Woldemichael, wealth management analyst at GlobalData, commented: "Whi...