Modern technology and the internet of things have changed investment forever. The ability to access information everywhere and at any time across a range of devices and platforms has placed considerable power in the hands of individual investors and companies.
This evolution of communication has allowed investors to analyse specialized data and other vital information across easily accessible websites. Financial intermediaries such as managers and brokers previously had a competitive advantage over individual investors, as they were able to call on vast resources to procure large financial reports but this is no longer the case.
New tech has also transformed portfolio management by streamlining the asset management process. This monitoring and maintenance system was typically time consuming and challenging due to complex equity, bonds, asset and portfolio management which had to be completed manually.
Technology now allows asset managers to make these calculations automatically using software with trading algorithms. It has also increased transparency in the sector by making information including fee dynamics and performance more visible.
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Investment companies are using a variety of cutting-edge tech to improve their business processes and to connect with more clients and customers. Mobile applications are now an invaluable resource to investors and companies as they allow smartphone, tablet and desktop users to get real time economic data, trade virtual portfolios and access stock charts while on the move.
- The iPad in particular is a popular gadget for investors as there are hundreds of useful free market monitoring apps available on the iOS store.
However, investment companies need to capitalise on the big data boom and cloud technology to stay ahead of the competition. Many firms are already investing in the power of information and analytics with WealthFront already outlining its commitment to using robo-advisors, which automate every aspect of asset management using online wealth management services.
Modern technology has lowered the barriers of entry for investors and allowed anyone with talent to seize an opportunity. Mobile apps, the cloud and software and hardware innovations have made it easier and reduced the costs for the majority of financial market participants.
- Investors are now faced with a new challenge of adapting to the next wave of tech to stay ahead of the curve.
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