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We wanted to find out what New Zealanders know about robo-advice. We set out to understand the level of confidence they have in taking advantage of this emerging technology to help manage their financial futures and lift low engagement levels in retirement planning.

Robo-advice has taken off overseas but is a relatively new concept in New Zealand. This report, ‘Rise of the Money Robots: Kiwis’ attitudes to robo-advice,’ surveyed 1001 people to understand Kiwis’ attitudes toward the use of robo-advice to automate the management of their investment and retirement savings. 

The upshot: Kiwis are open to the idea of a robo-adviser helping them manage their finances but still want real people available to help them with big decisions. We also identified a number of key findings from the main report.

Key findings

  • Less than 20% of Kiwis currently have a financial adviser.
  • Only 17% of people check or change factors about their retirement finances monthly; 20% haven’t checked in the past year.
  • Kiwis don’t check on their retirement investments more often due to a lack of knowledge (26%), not having time (22%) or feeling that retirement is too far away.
  • Young Kiwis see robo-advice as an opportunity to get advice on setting financial goals; older Kiwis see robo-advice as a way of helping them to realise those goals.
  • Access to human financial advisers is more important the older one gets, with older generations more hesitant to entrust robo-advisers to manage their retirement savings.
  • Robo-advice should complement human financial advisers.

More detail on these findings, together with additional analysis and data points, are available in the full report. 

Robo-advice report


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