Since the beginning of the financial industry centuries ago, there has been no greater time of change and innovation than in the past century, and more recently, in the past 15-20 years. The most recent advances in computer technology and mobile hardware have made it easier and more convenient for all types of individuals to enter the financial markets directly.. If someone wanted to invest money into a particular product years ago, it was typically necessary to work with a financial professional in person. Now, with mobile technology, that necessity has disappeared. Here are the eight ways that investing has been transformed by mobile technology advancements.
1. Simplifying Trades and Transactions
The biggest change in the investing arena is how simple trades and transactions have become with mobile technology. Now, it is possible to initiate and complete financial trades and transactions from your smartphone. This gives everyone more options and power in their financial portfolio. Smart traders know, however, that it is important to continue to seek the expert advice from a financial advisor before going through with a major transaction.
2. Reaching a Greater Audience
Mobile technology has helped expand the reach of the financial industry. In the past, trading and investing was typically limited to those with money, knowledge, and power. Today, mobile apps and innovations in communication have made it possible to allow virtually anyone with an internet connection or a smartphone to get in on the investing action. Unfortunately, this allows novices on to the field who may not have done research—but it also gives the general public many more opportunities for making money.
3. Accessing Social Media
Another big part of today’s investing and financial market field is social media. Mobile technology makes it possible to access your social media accounts 24 hours a day. Understanding the latest trends on the big social media networks may give investors a greater edge. An investor can catch wind of the next big thing that could make money, where they might have missed it before.
4. Helping Secure Retirement Plans
Mobile technology and apps are also great ways of helping get your retirement plans in order. As the nation continues to age, more people are realizing the importance of a solid retirement financial plan. With mobile technology, young workers can easily start their own retirement account to help make for a brighter future.
5. Keeping Communication Lines Open
Mobile technology also allows for investors to keep all of their communication lines open constantly. Whether they need to send a quick email to a family member about an investment, or they need to text their advisor for some quick advice, mobile technology of today makes it happen.
6. Personalizing the Experience
With today’s newest apps and technologies available on smartphones, advances also help users personalize their experience. Your smartphone is your own customized personal assistant for all things related to your life. Just as you have molded your phone to help you with daily tasks, it can also be personalized to give you a greater investing experience as well. This can help you make better decisions and potentially increase your wealth.
7. Getting Relevant News
Mobile technology of today is also responsible for many investors being able to get all relevant financial news anytime they want. Using informative tools like the Fisher Investments app on iTunes gives users access to news stories that could enhance their investing experience. The financial firm has designed a tool that helps investors be up to speed on what’s going on in the world of finance.
8. Accessing Helpful Tips
Lastly, some mobile apps can provide investors with valuable tips about what steps to proceed with next in their investment strategy. Instead of a generic list of best practices, you can get a customized influx of insight into your particular focus in investing. The power of your smartphone, paired with your personal preferences, information, and history, can transform your financial portfolio into one that is stronger and more profitable.
Investing today has transformed into an activity that is much more accessible to the millions of people with smartphones and the best apps in the industry. This revolution has helped many new investors learn about the market and position their portfolio to build wealth over the long term. Investing has becomes easier, more productive, and much less exclusive for everyone.