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Developing a robo-advisor typology - lessons from action design research at Beterinbeleggen.nl

Akkerman, F.R. (2018) Developing a robo-advisor typology - lessons from action design research at Beterinbeleggen.nl.

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Abstract:Robo-advisory is a fintech innovation that can potentially change the investment advisory industry by reducing service times and costs of advice. Robo-advisory may cause disintermediation in the advisory branch. This study will try to answer the following explorative research question: How can traditional investment advisors strengthen their competitive position by implementing robo-advisory systems? Three Dutch investment advisors that use robo-advisory serve as case study for this research. These companies and their customers were analysed with the Value Proposition Canvas of Osterwalder, Pigneur, Bernarda, and Smith (2014). The results of this analysis were used for an action design research conducted for Beterinbeleggen.nl, a Dutch investment advisor which does not use robo-advisors. The action design research aimed to advise Beterinbeleggen.nl on the possibilities of robo-advisory. The recommendation to Beterinbeleggen.nl contributes to practice by presenting an incremental roadmap that helps to implement robo-advisory for traditional investment advisory companies. By generalising the findings, it became viable to categorise robo-advisors. The two proposed categories are customer investing experience and technology complexity. With these two categories, four types of robo-advisory systems were distinguished, ranging from low to high levels of investing experience and complexity. The presented framework contributes to future research and practice; future research can choose and specify a robo-advisory typology to study or implement. Future research could focus on further clarifying the definition of robo-advisory and the value capture mechanisms that are needed for success.
Item Type:Essay (Bachelor)
Faculty:BMS: Behavioural, Management and Social Sciences
Subject:85 business administration, organizational science
Programme:International Business Administration BSc (50952)
Link to this item:http://purl.utwente.nl/essays/75436
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