Robo Usage, Awareness and Trial
Market & Competitive Data to Inspire Innovation, Improve Portfolios and Increase Conversion
Order Report - Robo Usage, Awareness and Trial: Market & Competitive Data to Inspire Innovation, Improve Portfolios and Increase Conversion
Report Overview
Approximately 12 million households in America use robo-advisors. Their popularity is on the rise, and firms across the industry are working hard to win customers and capture share of wallet. This report examines trial to conversion and which offerings are growing fastest. Beyond the competitive landscape, the report also explores who is using robos, how much they are investing, and investor vs. non-investor profiles.
Key Findings
- About 12M households have money in robo-advisors.
- Robo ownership is associated with better portfolio allocations in consumers with <$100K in assets, but robos appear to be displacing mutual funds in wealthier groups.
- Robo account sizes vary widely — from <$500 to $500K-$1M, with the median being $10K-$25K.
- New entrants have much higher awareness among younger consumers than new offerings from established firms, while new offerings from established firms have higher awareness among older consumers.
- Small new entrants are setting the competitive bar for excellence on converting awareness into trial, despite difficulty competing with established firms on national awareness.
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Sample Report Pages
Table of Contents
Methodology
3-8
Key Findings and Implications, Favorite Statistics, Related Research
11-17
Key Finding #1: About 12M households have money in robo-advisors.
Exhibit 1.1 – Investment Product Ownership: 2020
18
Exhibit 1.2 – Household Awareness of Investment Product Types Owned: by Year
19
Exhibit 1.3 – Robos/Automated Portfolios Ownership – Number of Households: National, by Year
20
Exhibit 1.4 – Robos/Automated Portfolios Ownership Rates: by Investable Assets, 2020
21
Exhibit 1.5 – Robos/Automated Portfolios Ownership Rates: by Generation*, by Lifestage, 2020
22
Exhibit 1.6 – Robos/Automated Portfolios Ownership Rates: by Generation and Investable Assets, 2020
23
Exhibit 1.7 – Customer Use of Robos/Automated Portfolios, by Store: 2020
24
Key Finding #2: Robo ownership is associated with better portfolio allocations in consumers with <$100K in assets, but robos appear to be displacing mutual funds in wealthier groups.
Exhibit 2.1 – Average Allocation to Robos Among Robo Owners: by Investable Assets, 2020
25
Exhibit 2.2 – Average Allocation to Investment Products: by Robo Ownership: 2020
26
Exhibit 2.3 – Average Allocation to Investment Products: by Robo Ownership and Investable Assets, 2020
27
Exhibit 2.4 – Average Asset Allocation: by Robo Ownership and Investable Assets, 2020
28
Exhibit 2.5 – Asset Allocation to Equity: by Robo Ownership and Selected Lifestages, 2020
29
Key Finding #3: Robo account sizes vary widely — from <$500 to $500K-$1M, with the median being $10K-$25K.
Exhibit 3.1 – Dollars Invested in Robos/Automated Portfolios: 2020
30
Exhibit 3.2 – Dollars Invested in Robos/Automated Portfolios: by Investable Assets, 2020
31
Exhibit 3.3 – Dollars Invested by Millennial Millionaires in Robos/Automated Portfolios: 2020
32
Key Finding #4: New entrants have much higher awareness than new offerings from established firms among younger consumers, while new offerings from established firms have higher awareness among older consumers.
Exhibit 4.1 – Awareness of Any New Entrant or New Offering From Established Firms: National, by Year
33
Exhibit 4.2 – Awareness of Any New Entrants / New Offerings From Established Firms: by Lifestage, 2020
34
Exhibit 4.3 – Awareness of Any New Entrants / New Offerings From Established Firms: by Investable Assets, by Year
35
Exhibit 4.4 – Awareness of Any New Entrants / New Offerings From Established Firms: by Generation, by Year
36
Exhibit 4.5 – Awareness of New Entrants by Company: National, 2020, 2019 & 2015
37
Exhibit 4.6 – Awareness of New Offerings by Company: National, 2020
38
Exhibit 4.7 – Awareness of New Offerings by Company: by Investable Assets, 2020
39
Exhibit 4.8 – Awareness of New Offerings by Company: by Generation, 2020
40
Exhibit 4.9 – Customer Awareness of Robinhood by Store, 2020
41
Exhibit 4.10 – Customer Awareness of Top New Offerings by Stores With Biggest Reach*, 2020
42
Key Finding #5: Small new entrants are setting the competitive bar for excellence on converting awareness into trial, despite difficulty competing with established firms on national awareness.
Exhibit 5.1 – Awareness & Interest/Trial NET by New Offering: 2020
43
Exhibit 5.2 – Interest & Trial Involved Money NET by New Offering: 2020
44
Exhibit 5.3 – Funded Account & Paid for Premium Service by New Offering: 2020
45
Exhibit 5.4 – Number of New Offerings Tried where Trial Involved Money NET*: 2015, 2019 & 2020
46
Exhibit 5.5 – Awareness & Interest/Trial by New Offering: 2020
47
Appendix
Data Dictionary
48-52
Glossary, Sample Sizes
53-56
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