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@article{203177,
        author = {D. Manjula Shastri and Aditya Sangwai and Akanksha Badgujar},
        title = {Investor Awareness, Preferences and Adoption Intentions toward Robo-Advisors in Mumbai},
        journal = {International Journal of Innovative Research in Technology},
        year = {2026},
        volume = {12},
        number = {12},
        pages = {12038-12047},
        issn = {2349-6002},
        url = {https://ijirt.org/article?manuscript=203177},
        abstract = {The rapid growth of financial technology has transformed the investment landscape through the emergence of robo-advisory services, which provide automated and algorithm-driven investment recommendations. This study examines the awareness, investor preferences, and factors influencing the adoption of robo-advisory services among retail investors in Mumbai. The study adopts a descriptive and analytical research design using a quantitative approach. Primary data was collected from 256 respondents through a structured questionnaire using convenience sampling. Statistical tools such as percentage analysis, weighted average analysis, and Chi-square tests were used for data interpretation.
The findings reveal that awareness and adoption of robo-advisory services are significantly influenced by demographic variables such as age, gender, and income. Investors aged 25–35 years and higher-income groups demonstrated greater awareness and acceptance of robo-advisory platforms. The study also identified key adoption drivers such as personalized investment strategies, future-oriented financial planning, and improved customer support. However, lack of personal interaction, concerns regarding algorithmic investment decisions, and data security risks emerged as major barriers to adoption.
The study concludes that although robo-advisory services possess strong growth potential in Mumbai, investor trust, financial awareness, and human-centered support remain essential for wider acceptance. The findings provide valuable insights for fintech companies and financial institutions in designing more secure, personalized, and investor-friendly robo-advisory platforms.},
        keywords = {Robo-advisory services, fintech, retail investors, investment behaviour, financial technology, investor perception.},
        month = {May},
        }