iii TABLE OF CONTENTS TITLE PAGE ......................................................................................................................... i ABSTRAK ............................................................................................................................ iii APPROVAL PAGE ............................................................................................................. iv FOREWORD ........................................................................................................................ v TABLE OF CONTENTS ..................................................................................................... 6 LIST OF TABLE .................................................................................................................. 9 LIST OF FIGURE .............................................................................................................. 10 LIST OF APPENDICES .................................................................................................... 11 LIST OF ABBREVIATIONS ............................................................................................ 12 CHAPTER I INTRODUCTION ......................................................................................... 1 1.1 Background ............................................................................................... 1 1.2 Problem Statement .................................................................................... 3 1.3 Research Questions ................................................................................... 4 1.4 Research Objectives .................................................................................. 4 CHAPTER II LITERATURE REVIEW ........................................................................... 5 2.1 Introduction to Robo-Advisors.................................................................. 5 2.1.1 Definition ........................................................................................ 5 2.1.2 The technology behind robo-advisors ............................................ 5 2.2 Adoption of Robo-Advisors ...................................................................... 6 2.3 Impact on Personal Financial Planning ..................................................... 7 2.4 Robo-Advisors in Indonesia ...................................................................... 9 2.4.1 Regulatory environment for Robo-Advisors in Indonesia .............. 10 2.4.2 Religious Considerations .............................................................. 10 2.5 Indonesian Investor Perception and Behavior ......................................... 11 2.6 Satisfaction With Financial Planning Strategies ..................................... 12 iii 2.7 Investment Decision ................................................................................ 13 2.8 Hypothesis Development ........................................................................ 15 2.8.1 Relationship Between Robo-Advisor and Satisfaction with Financial Planning Strategies ............................................................................ 15 2.8.2 Relationship Between Robo-Advisor and Investment Decision .. 16 2.9 Conceptual Framework ........................................................................... 17 CHAPTER III RESEARCH DESIGN AND METHODOLOGY .................................. 18 3.1 Research Methodology ............................................................................ 18 3.2 Research Approach ................................................................................. 18 3.3 Data Collection ........................................................................................ 19 3.4 Sample and Population ............................................................................