What the research tested
A 2018 TUM thesis examined the questionnaires of 21 robo-advisors active in Germany and built a 31–36 question demonstrator. It compared the information gathered, consistency checks and proposed equity allocations for three sample investors.
What this lab uses: 11 core questions (10 scored) plus conditional sustainability details. It takes the three assessment dimensions and consistency logic from the thesis, but does not reproduce its 31–36-question questionnaire or its equity-allocation algorithm.
Using the thesis’s own assessment grid, providers met about 35% of the examined requirements on average; the best reached about 67%. More than half had no or weak consistency checks. The equity shares proposed to the same example investor differed by as much as 70 percentage points.
These figures describe the historical sample and the author’s method. They are not a current market benchmark or a finding about individual firms today.