Trends Report

Investment Management Apps Are Failing Mainstream, Younger US Investors

Incumbents Risk Losing Millennial Investors Over Lack Of Comprehensive Financial Guidance In Mobile Offerings

December 26th, 2017
DJ
Davis Janowski
With contributors:
Benjamin Ensor , Mike Chirokas , Sam Bartlett

Summary

Many traditional investment management firms have felt little pressure to develop their mobile apps to include holistic advice features. This makes sense to a point: Incumbent firms' best clients are generally older, of higher net worth, more likely to have a financial advisor, and unlikely to engage in complex tasks such as planning via the mobile internet. Younger investors want more help on mobile devices, however, and a range of startups are showing that it can be done in a useful and compelling way. Established firms must do the same or risk losing a key demographic.

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