No. 979 - The use of robo-advisors in Italy: insights from a new survey

Questioni di Economia e Finanza (Occasional papers)
by Massimiliano Stacchini and Pietro Vassallo
November 2025
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This paper analyzes the diffusion of robo-advisors in Italy-digital platforms that provide automated financial advice based on algorithms. Using 2023 data from Banca d'Italia's triennial survey on the financial literacy of adults (IACOFI), it examines the characteristics of the users of these platforms and investigates whether they encourage participation in financial markets.

Fifteen percent of adults in Italy use robo-advisors. Their use is more widespread among males, individuals with strong digital skills, and those with a lower level of financial knowledge. Individuals who use these tools prove to be more likely to participate in financial markets.

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  1. 13 November 2025
    No. 979 - The use of robo-advisors in Italy: insights from a new survey
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