A study by fund group Legg Mason found investors aged 18-39 place almost as much trust in the online channel as face-to-face advice. See YourMoney.com’s guide on Robo-advice for more information.

In total 85% of UK-based millennials said they’re comfortable with robo-advice and 80% said they trust this type of advice, putting them ahead of all other investors around the world, except US millennials (82%).

On average, 59% of millennials globally expressed comfort with robo-advice, with 63% trusting it; within Europe, 70% were comfortable with robo-advice, with 65% trusting it.

The survey of more than 1,000 investors also found that overall, professional financial advisers scored more highly among UK millennials with 91% feeling comfortable with their adviser and 88% having trust in them.

Legg Mason said the figures show the “extent to which robo-advice is taking off among the younger generation”.

Robo-advice: more than a passing fad

Adam Gent, head of UK sales at Legg Mason Global Asset Management, said: “Robo-advice remains a relatively new concept in the UK compared to the US, where it is more established, but the levels of support for this new advice channel suggests it is far more than a passing fad.

“Indeed, with such trust being placed in online advice by younger investors, many of whom will have grown up with the internet, it would appear the future looks bright for robo-advisers as they seek to establish footholds in the UK advice market.”