Investment Fraud Awareness
Reasons for Not Using Robo-Adviser: Top reason for use not using
online adviser is satisfaction with current adviser (27%)
Q
Which of the following is the most important reason that you are not using an online investment adviser?*
[asked only of investors without an online investment adviser; national n=2,086, Manitoba n=200]
107
Among investors without an online investment adviser
2017
2020
I am happy with my current adviser and have not
considered alternatives
I do not know enough about them
I do not trust investing through the internet
It is important to me to meet with the person managing
my investments
My current adviser offers additional services - such as
financial planing - that robo-advisers do not
6%
8%
3%
I think the fees they charge are too high
3%
I am worried the returns would be lower than with a
traditional adviser
1%
3%
2%
Other
2%
Don't know
4%
5%
18%
15%
16%
17%
24%
21%
23%
26%
I am happy with my current adviser and have not
considered alternatives
I do not trust investing through the internet
I do not know enough about them
It is important to me to meet with the person managing
my investments
My current adviser offers additional services - such as
financial planing - that robo-advisers do not
27%
22%
20%
15%
17%
17%
12%
14%
7%
7%
5%
I want to be able to choose individual stocks
8%
Manitoba
I think the fees they charge are too high
I am worried the returns would be lower than investing
on my own
3%
National
4%
3%
3%
I am worried about what would happen if they went
bankrupt
2%
3%
I am worried the returns would be lower than with a
traditional adviser
1%
1%
0%
Other
1%
Don't know
4%
5%
*Note: In 2017, question text was "Which of the following is the most important reason that you are not using an automated online investing service?"; Response codes "I am worried the
returns would be lower than investing on my own", "I am worried about what would happen if they went bankrupt" and "I want to be able to choose individual stocks" were added in 2020; In
2017, "I do not trust investing online (through the internet)" was "I do not trust investing through the internet"; 2017 national n=2,099, MB n=202View entire presentation