Aussies not keen for tech
Aussie investors are not keen to use technology with only four per cent prepared to embrace technology when investing, according to a Legg Mason survey.
The survey found this was compared to the global average of 38 per cent, with Asian investors most willing to embrace investment technology at 47 per cent, followed by Latin America (34 per cent), and the US and Europe (both 11 per cent).
Legg Mason's global head of distribution marketing, Matt Schiffman, said the results highlighted that Australian investors were lagging behind the investment technology curve.
"Australian advisers and investors alike should recognise the opportunities that technology can bring in making more informed investment decisions alongside face-to-face advisory services," Schiffman said.
The survey said the most popular platform for Australian investors was purchasing investment through an automated online advice platform at five per cent, with the global average at 37 per cent.
Only three per cent of Australian investors were willing to use apps when investing, whereas the US and Asia had this as their most popular platform at 29 per cent and 52 per cent respectively.
While Australian millennials (aged 18-39) were most open to using technology (22 per cent), compared to those over the age of 40 at four per cent), their willingness was significantly lower than the average global millennial investor of 55 per cent.
Legg Mason surveyed 4,103 high net worth investors aged 40 to 75 and 1,267 high net worth investors aged 18 to 39.
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