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.
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.
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.
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.