Using Technology to Enhance Your Investment
These days, investors are using tech to make investing a lot easier and more profitable.
With the right tools, it’s really easy to manage your investments on your own and get the most out of them. Thanks to technology, investing is becoming more accessible for everyone.
So, how can you use technology to enhance your investments? Here are some examples of the way technology has improved the world of investing.
Large investment firms have started to use artificial intelligence technology to help consumers manage their money and plan for retirement. For example, Morgan Stanley has begun to experiment with how AI technology can be used to to suggest investment strategies. They have developed an AI-powered virtual advisor to assist clients with their portfolios.
Their technology, part of an initiative called “Next Best Action” works by assessing and evaluating all communication with clients by email and texts. It then applies machine learning to understand the client’s investment portfolio and suggest other potentially profitable ideas. So, for example, the tool might alert your advisor to send you a message if one of your significant stocks has been downgraded.
One of the advantages is that A.I. advisors tend to be more accurate than humans when it comes to judging the stock market. They are not subject to impulsive whims and emotions and they will be more likely to make a precise, informed decision.
(However, at the moment at least, this technology still requires human interaction. The machine offers ideas and suggestions to the financial advisor, who then decides what makes sense to pass along to the client.)
Investing apps are becoming very popular. In the past you had to pick up the phone and call a stockbroker in order to trade one of your investments. These days, you can simply tap your screen and buy or trade stock instantly.
There are many great investment apps out there that make diversifying your portfolio a snap. (Here’s a great list of the top ones for 2019.) For example, the app Robinhood allows you to trade for free - no hidden fees or other costs.
Or, there are apps like Acorns that allow you to automate your investing. It simply rounds up your transactions to the next dollar and invests the spare change in a professionally managed portfolio. A few dollars here and there really adds up!
There are also apps for researching investments, keeping track of your investments, learning investment strategy and much more. There’s no harm in using several different investing apps at once. In fact, it can be a great strategy to diversify your portfolio.
Another great example of technology enhancing your investments is the use of online marketplaces, dashboards and platforms. This will allow you to manage your investments quickly and easily on your laptop or phone.
A fantastic example of this is the online platform created by Partbnb.
Our platform allows you to view all the information about your investment in one place, quickly and easily. You can create an account to buy and sell parts, download your tax statements and even book a stay at one of your properties.
Within the easy-to-use online marketplace, you can view financial statements, property images, location information and much more. Then, once you’ve purchased part of a property you can review its performance on your own account dashboard.
You can review any Capital Growth when it is revalued, or view your rental income as its received. You can also purchase additional parts at any time, or list your parts for sale if you no longer want them.
When it comes to real estate investing, in the past you had to visit a property in person in order to get a sense of what it looked like. These days, you can do a virtual walk-through of all kinds of properties online.
This is a very effective way to narrow down your list to those that are worth your time to visit in person. You’ll save a lot of time when comparing properties, which means you’ll be able to make better investments, faster.
Also, when it comes to selling your property you’ll be able to use the same technology to advertise the home to more potential buyers.
Finally, one of the major ways technology has enhanced investing is by simply giving us more access to information than ever before. If you have access to the internet, you have more information about investing at your fingertips than any investor would have had a few decades ago.
There are thousands of publications and news sites dedicated to providing users with the latest and best information and tips. For example, Investopedia offers an “Investing Essentials” that provides easy, step-by-step information for new investors.
Another great resource is the Motley Fool.
This website is written by investing experts and it has a lot of fantastic insights and news stories for investors. Check out How to Invest in Stocks: A Beginner’s Guide.
Morningstar is another one of the big ones.
They perform deep research into the financial health of a company, so you can make sure your real-estate investments are well-informed. (Although, this one does cost money to use so you may want to do a free trial first to see if it’s something you’ll use.)
Technology has the potential to make almost everything we do more efficient, so why not use it to make more efficient and informed decisions around your investments?
Of course, while all these developments in technology make investing easier, there is still a lot of room for human guidance and advice. So, if you have any questions about investing or would like to talk to an expert, you can contact us at any time by clicking here: