MEASURING THE USE OF ROBO-ADVISORS: A VALIDATED SCALE FOR MALAYSIAN INVESTORS

The emergence of digital investment platforms, especially robo-advisors, has transformed the financial industry by delivering cost-effective, accessible, and data-driven investment services. However, despite these benefits, the adoption of robo-advisors in Malaysia remains lower compared to global benchmarks. This study aims to assess the validity and reliability of an instrument measuring behavioural intention to use robo-advisors in the Malaysian context. The instrument underwent a rigorous validation process involving seven panel experts who assessed the measurement items for face and content validity. Content Validity Ratio (CVR) and Content Validity Index (CVI) were employed to evaluate expert consensus and guide item refinement. For reliability, analyses included internal consistency, factor loadings, and convergent validity. The final instrument consists of five items using a 5-point Likert scale and 30 items using a 7-point Likert scale, covering six key variables. This tool provides a solid framework for understanding adoption barriers and identifying growth opportunities for robo-advisors in Malaysia. The validated instrument is reliable for use in actual data collection and offers significant contributions to both academic research and industry application. It also strengthens the theoretical foundation of fintech adoption in emerging markets through comprehensive psychometric evaluation. Ultimately, the study delivers a pragmatic and context-specific tool for assessing behavioural intention in robo-advisor usage.