Financial Technology (FinTech) is attracting increasing attention from consumers, investors, the investment management industry, and regulators across the globe. To inform the policy debate, CFA Institute conducted a member survey on the topic.
Recently, the Joint Committee of the European Supervisory Authorities requested comments on a Discussion Paper regarding automation in financial advice. The debate centers on whether the three ESAs need to adopt measures, if any, in order to promote "the safety and soundness of markets and convergence in regulatory practice." The Discussion Paper presented a preliminary assessment of the main characteristics of automated financial advice tools as well as their potential benefits, costs, and risks.
CFA Institute conducted a member survey on the topic using our Capital Markets opt-in survey panel. The survey was sent to members on 5 February 2016 and closed 19 February 2016. 3,803 members were invited to participate in the survey and 775 valid responses were received for a response rate of 20% and a margin of error of ±3.2.