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Dr hab. Krzysztof Waliszewski
ORCID: 0000-0003-4239-5875
Professor at the Poznan University of Business and Economics, postdoctoral degree in economic sciences in the discipline of finance (currently economics and finance); author, co-author and editor of several monographs; author of several hundreds of articles on financial and credit intermediation, financial consulting, para-banking institutions, banking union and capital markets union, corporate social responsibility of financial institutions. Member of Presidium of the Committee of Financial
DOI: 10.33226/0137-5490.2020.7.2
JEL: D10, G20, G50, L84, O33

The service of automated financial advice (robo-advice) belongs to financial innovations in the area of retail customer service and is provided by entities from the financial technologies segment. This service usually concerns investment consultancy and involves the use of algorithms and artificial intelligence to collect information from the client and propose a solution corresponding to the client's risk profile. This method of service reduces the costs of consultancy services and minimizes or completely abolishes the minimum investment amount required by the adviser. The homeland of robo-advice is the United States, where the largest market is, but robo-advisers are also present in Europe. The article presents the most important aspects related to the definition, regulations, operating, size of the world and Poland's market and it forecast until 2023. The presented analysis shows that the most likely solution in the future is the hybrid model, in which a traditional financial advisor responsible for shaping customer relations uses robo-advice tools for customer service. The challenge for the regulator and financial supervision will be the introduction of such standards that will ensure the security of economic trading participants, and on the other hand will not be too restrictive and inhibit the development of this innovative segment of the financial services market.

Keywords: financial advisory; financial technology; financial regulation; robo-advice

Professor at the Poznan University of Business and Economics, postdoctoral degree in economic sciences in the discipline of finance (currently economics and finance); author, co-author and editor of several monographs; author of several hundreds of articles on financial and credit intermediation, financial consulting, para-banking institutions, banking union and capital markets union, corporate social responsibility of financial institutions. Member of Presidium of the Committee of Financial Sciences of the Polish Academy of Sciences, winner of the competition of the President of the Polish Academy of Sciences for outstanding financial achievements in 2017.