While not the disruption many had anticipated, roboadvisors are being embraced by affluent Americans of all ages.
According to a study of investors with more than $100,000 net worth by Chicago-based Spectrem Group, the average “wealthy” roboadvisor user is 48-years old.
While roboadvisor users are still younger than non-users, who averaged 62 years old, the age diversity of digital advice adopters eclipsed that of non-users. While 58 percent of non-adopters were over the age of 62, just 22 percent of roboadvisor users were from the same age group.
Source: FA Magazine