INFLUENCE OF ROBO-ADVISOR IN PRESENTING A BETTER PERSONAL FINANCIAL MANAGEMENT

الملخص

Current study aimed at examining the influence of robo-advisor (Automation, Accessibility, Personalization, Data-driven insights, Real-time monitoring and alerts and Goal-based planning) in presenting a better personal financial management (PFM) among adult investors in Jordan. Quantitative methodology was adopted, and an online questionnaire was self-administered by (413) adult investor in Jordan. SPSS was used to screen and analyze gathered data. Results of study indicated the acceptance of the main hypothesis which argued; “Robo-advisor has a statistical impact on personal financial management” with an R= 0.967 and a variance of (93.5%). In addition to that, study indicated that among the controllers of study, (Goal-based planning) was found to be the most influential with an R= 0.944 and a variance of (89.1%) to the dependent variable. Study recommended that organizations supporting and adopting fintech software such as robo-advisor should commit to providing advice explaining how individuals can benefit from using robo-advisor to manage their financial affairs. Regarding the underpinning theory, it was found that behavioral finance theory intervene with the use of robo-advisor as automation, accessibility, personalization, data-driven insights, real-time monitoring and alerts and goal-based planning may deviated individuals from making cognitive of emotional financial decisions in their personal financial management.