The finance world is in no rush to jump on the mobile bandwagon. Overrun by conglomerates with practices steeped in tradition, the industry is notoriously resistant to change, especially when it comes to technology. And industry professionals are no exception.
Take, for example, mobile payments. Companies big and small have pushed for years to make mobile transactions a reality, but thus far, those efforts have largely fallen short. Key industry players, merchants and even consumers are still sitting on the fence. And while Apple’s decision to throw its hat into the ring is promising, there’s no guarantee it will stick.
Fortunately, the investing landscape is different. It lends itself to mobile in a way that many finance-related fields do not. And for advisors, traders and other investment professionals, mobile products and services can serve as tools that both accelerate workflows and strengthen relationships with clients.
The Right Information at the Right Time
On-the-go, actionable information is especially pertinent in markets where volatility and split-second decision-making are absolute and inevitable truths. The problem? It’s impossible to be glued to a trade desk, computer or terminal 24 hours a day. Less challenging: keeping tabs on your phone.
But it’s not that simple — yet.
Android still doesn’t have a native app for investing — and while such a solution does exist for iOS, it is by no means complete. Outlets like Bloomberg, CNBC and Yahoo! Finance have moved quickly to fill the void, providing up-to-the-minute market news. Twitter is also an increasingly useful — and incredibly timely — source of investment updates, and new services like StockTwits are making it even more relevant.
Such services are excellent for browsing and staying on the forefront on what can quite literally be split-second developments. However, it is another layer that makes them especially pertinent: push notifications.
Mobile investment and news apps send alerts of the most important, curated news straight to our pockets. And many products also allow users to set specific alerts on prices and major moves. Have a client who wants to buy into Apple only if it dips below the $100 mark? Set the price alert, and you’ll know the second it happens.
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