Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/334272 
Year of Publication: 
2024
Citation: 
[Journal:] Business, Management and Economics Engineering (BMEE) [ISSN:] 2669-249X [Volume:] 22 [Issue:] 2 [Year:] 2024 [Pages:] 382-400
Publisher: 
Vilnius Gediminas Technical University, Vilnius
Abstract: 
Purpose - this study aims to thoroughly investigate by reviewing previous literature on risk assessment queries for robo-advisors, comparing it with three existing robo-advisors and proposing suitable risk assessment questions for robo-advisor. Research methodology - utilize the deductive content analysis technique to examine the risk assessment issue for financial robo-advisors, which is influenced by previous study. Findings - there are nine questions share a similar context both in previous literature and among existing robo-advisors, with income being the most commonly used question. Then, there are three questions that are only asked by the existing robo-advisors: emergency funds, home ownership, and the source of transaction. These findings suggest some additional questions to enhance the effectiveness of risk assessment in robo-advisory services for individuals. Research limitations - only two previous research papers have focused on risk profiling, and three available applications used in this research. Practical implications - the robo-advisor's developer should take into account various factors such as local culture and economic conditions, financial product knowledge, etc. when crafting diverse risk profiles to provide more precise investment recommendations. Originality/Value - the study is the first research which explore the risk profiling for financial robo-advisor, which used by existing robo-advisor then compared to other countries in the world.
Subjects: 
content analysis
fintech
literature
risk profiling
robo advisor
JEL: 
D83
G11
O33
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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