Awareness of Robo Advisors is still in its infancy. Roughly 7 million (5%) of US households have heard of the concept; only 5 million households now use a robo advisor. Households that use a robo advisor do not fit the conventional stereotype of young tech-savvy Millennials.

Watch this mini-presentation by Larry Cohen, director of SBI's Consumer Financial Decisions group, to learn more about households that use a robo advisor.

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