More than three quarters (77 per cent) of retail investors invest at least some of their portfolio on a digital platform or app, but those who invest exclusively online are far less likely to access professional financial advice, according to Amundi.

Analysis from the asset manager showed that just 19 per cent of digital-only investors sought professional advice, meaning they were less confident about their investment decisions and about achieving their investment goals.

More than half (54 per cent) of investors surveyed did not have a ‘well-developed’ long-term financial plan in place, while those who did were four times more likely to feel confident about achieving a financially secure retirement than those without one.

Amundi also found that those receiving professional advice were almost three times more likely to have a plan in place than those not receiving advice.

It added that investors valued professional investment advice from a human, especially when it came to long-term financial planning.

However, analogue investors were keen to improve their knowledge of online investment options, which Amundi said demonstrated the need to explore a hybrid model to meet investors’ needs holistically.

When asked what drove them to invest, a comfortable retirement was the cited by 41 per cent of respondents, followed by ‘making as much money as possible’ (39 per cent).

While 66 per cent of investors felt they were making the right investment decisions, just 26 per cent believed they were on course to achieve the income needed for retirement.

“The second edition of our study Decoding Digital Investment provides a wealth of information for those seeking to understand the changing expectations and behaviors of investors,” stated Amundi head of distribution and wealth division, passive business line, Fannie Wurtz.

“The study highlights the importance of professional investment advice: almost three times as many investors who receive support - whether through a human or through meetings or digital means - have established a structured investment plan.

“While the use of digital channels continues to grow globally, fostering financial education and developing hybrid advisory model is more essential than ever to help investors reach long-term investment goals.”

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