Financial advisers stand out as the most reliable source of investment information for 49% of Italian investors, Schroders Global Investor Study 2019 showed.
The research also found that over half (51%) of the respondents speak to their financial advisers when seeking information on a recommended asset allocation based on financial markets' outlooks while 25% refer to the press, 16% to the bank, and a remaining 8% to asset management firms.
The study, which surveyed 25,000 people from 32 countries, also indicated that 67% of investors in Italy use financial advisers as the provider for their investments. From this share, 48% said they had already used financial advisers and will continue to do so, while 19% said they never did it but intend to do so in the future. The remaining 33% have either never used them or did it in the past, but they are not planning to repeat the experience.
When asked about the number of providers used for their investments, respondents admitted to rely on more than one, with an average of 2.8 providers used by each investor. At both European and global levels this average is equal to 3.3 providers per investor.
The study also suggested some reluctance towards roboadvisers, with 70% of the investors surveyed admitting they had never used them. Around half of this share (36%) would like to try them in the future but the remaining 34% is not planning to do so. From those who have used them before, only 11% would repeat the experience against a 19% not interested in such.
However, response to this type of online providers is much higher among millennials. Some 19% of Italian investors between 18 and 37 years old have made use of roboadvisers and want to continue doing so,whereas the percentage drops to 7% among Italians who are above 38 years old.
Schroders' research also showed that Italian investors seem to be willing to check frequently the status of their investments, with 80% checking them monthly compared to a 75% of investors across Europe.