Accounting
Apps We Love: Mobile Investing Tools
If you're in the business of helping your clients with their finances, or even just futzing around with your own investments, you'll benefit from this crop of apps designed for both new and experienced investors. You might not realize how many ...
Sep. 08, 2015
If you’re in the business of helping your clients with their finances, or even just futzing around with your own investments, you’ll benefit from this crop of apps designed for both new and experienced investors. You might not realize how many innovative investment apps are out there, waiting for you to try. Whether you’re helping your clients manage a portfolio or trying to make the most out of your pocket change, there’s sure to be something here to pique your interest.
We asked Angie Grissom, president of The Rainmaker Companies, for her favorite investment apps, and this is what we learned. Forbes Magazine (both the magazine and the app) includes great information about executives and innovation. Grissom likes Mint.com “because it consolidates everything into one place. It includes credit cards, investments, bank information and also sends you alerts.”
My Stock Charts is a highly visual charting app that allows you to customize your views (length of time, type of chart and other information) which is helpful, and it also allows you access to news and a message board.
Apple Stocks is easily accessible (on most people’s phones” and high visual. And Entrepreneur Magazine’s app “allows you to see what’s happening in business and what investments in ideas and businesses have been paying off,” said Grissom.
US News and World Report recommends Acorns, the app that allows you to link your credit and debit card purchases, rounding up each purchase to the nearest dollar and investing that spare change into funds you select. There is a small fee associated with this service. Another recommended app, Robinhood, allows free trading of more than 5,000 U.S.-listed securities and there is no minimum balance on the account. How does the company make its money? By accruing interest on the non-invested cash balances of its customers.
HuffingtonPost recommends Benzinga for investors who want to keep on top of real-time stock quotes and breaking news about the companies that interest them. Create watch lists and get social media updates on trending stocks.
For more social media connectivity with your stocks, Kiplinger magazine recommends StockTwits – the social network for investors. Created as an offshoot of Twitter, StockTwits uses what it calls cashtags (a dollar sign plus the stock ticker symbol) to aggregate information about a particular stock.
New investors who are interested in getting started in a mutual fund might like Sumday, the banking application that lets you invest as little as $1 at a time using either bank transfers or social media hashtags. Recommended by DailyTekk.com, Sumday invests your money in the Dreyfus Basic S&P 500 Stock Index Fund. Another investment vehicle, Increase (www.increase.com), lets you engage in real-time public discussion with other traders who are interested in a particular stock.
US News and World Report also suggests that investors who yearn to get in on the ground floor of IPOs or invest in the big dollar value stocks can look no further than LOYAL3, the no-fee investing platform where trades are made for as little as $10. LOYAL3 uses a batch investing technique that allows you to buy partial share of the expensive stocks as well as participate in IPOs when they are first available.
And finally, would you like to know how the billionaires invest? The iBillionaire app shows detailed investment data of the leading billionaires.
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The Apps We Love feature is sponsored by AccountantsWorld.