Robo advice: the Italian scenario

Marco Giorgi, Andersen Partner and honorary fellow to the Financial Markets Regulations and Comparative Private Law classes at the University of Rome – Tor Vergata, took part in the publication of the FinTech book titled “La digitalizzazione della consulenza in materia di investimenti finanziari“, an in-depth analysis on the digitalization of financial advice, the so-called robo advice, issued by the Italian public authority responsible for regulating the financial markets (CONSOB).

The paper analyzes the application of this innovative advice method in Italy with a specific focus on the consequences for the protection of retail investors. As the robo advice is increasing in Europe, this phenomenon stimulated the national regulators and the international institutions to evaluate the current regulatory frameworks and safeguards.

The Italian practitioners and academics noticed that there is a growing interest in the robo advice offer, although not yet comparable to other foreign markets. A forward-looking supervisory approach is expected to shape the practice with the principles promoted by the European Parliament and the European Commission.