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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