How much does it cost to build a wealth management app for the finance sector?

Standard price for a wealth management app for the finance sector: $37,500

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What is a wealth management app for the finance sector?

A wealth management app for finance professionals helps them monitor and optimize their clients' portfolios. Wealth management apps provide a dashboard with an overview of investment performance over time. A wealth management app also provides tools that allow financial advisors to run simulations and anticipate how different investments will perform in the future.

Wealth management apps are similar to consumer finance apps, such as banking and stock trading apps, and often share features with professional finance and accounting apps. Wealth management apps for consumers include SigFig and Personal Capital.

Here are some recent wealth management app for the finance sector examples built with Crowdbotics:

  • A financial app with some social media aspects. The main focus is to aggregate all investment and bank accounts in one resource to help users track their net worth. Users can also build profiles that can link to their portfolio if they want to share it on social media.

What is the typical cost to build a wealth management app for the finance sector?

A wealth management app for the finance sector usually costs $37,500 to build. However, the total cost can be as low as $25,000 or as high as $50,000. A wealth management app for the finance sector with a low number of features (also known as a "minimum viable product", or MVP) will be more affordable than an app that includes all intended functionality.

For example, here are some recent price quotes for a wealth management app for the finance sector from Crowdbotics:

  • $35,500

How long does it take to build a wealth management app for the finance sector?

A wealth management app for the finance sector usually takes 473 hours to build. However, a wealth management app for the finance sector can be built in as few as 280 hours, or in as many as 667 hours. The exact timeline mostly depends on how complicated your app is. As a general rule, it will take longer if you require highly custom designs, niche features, or non-standard release platforms.

For example, Crowdbotics produced the following recent hourly estimates for a wealth management app for the finance sector:

  • 473

How to successfully grow your wealth management app for the finance sector

A wealth management app can grow by providing a platform for investors to manage their investment portfolios and track their performance against the market. Wealth management apps need to appeal to users who have significant money invested in the stock market, as well as those who are only beginning to invest. The app should also provide features that allow users to manage all of their investment accounts together, instead of requiring them to log in to multiple apps.

Risks and challenges of building a wealth management app for the finance sector

A wealth management app is vulnerable to regulatory compliance risks including the mishandling of personal financial information, the violation of SEC and FINRA requirements, and the failure to conduct due diligence on clients. If you are designing an investment app that works with investor assets, then you will want to work with legal counsel to ensure that your application meets compliance standards.

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Some of the descriptions on this page were completed with AI assistance. Learn more here.