If you are a financial advisor, you probably have a lot of financial-focused apps on your phone. But what if you downloaded more than just apps that focus on your own finances? What about apps that allow you to get your work done faster, or apps that help you stay organized, or even apps that allow you to make the most of any downtime so you can be more productive in the long run?
We’ve compiled a list of some of the best apps for financial advisors—apps that will help you do your job better and make your life easier.
Table of Contents
Best Apps For Financial Advisors
- NestEgg Estimator
The NestEgg Estimator, a Google app, is a comprehensive retirement tool that projects the client’s finances into the future and breaks them down into income, taxes, assets and debt. The advisor can input varying amounts of data: The more data, the more detailed and accurate results. The app also gives the advisor the opportunity to play out various scenarios, such as changes in job, expenses, spending and many more. - Black Diamond
Advent Software’s Black Diamond is a cloud-based portfolio management platform. The features it offers independent financial advisors include information aggregation, customizable reporting, rebalancing and daily account reconciliation. - Black Diamond Mobile App
The Black Diamond mobile app, an add-on to the Black Diamond management platform, is one for the clients. It keeps them updated on their account and portfolio information. The app also offers a secure messaging system, ideal for advisor and client collaboration. - Hootsuite
Although many older advisors eschew the newer marketing and communication models, the planner without a strong online presence across Twitter, Facebook and LinkedIn is at a disadvantage. To reign in these unwieldy platforms and systematize their delivery, Hootsuite, a social media marketing aggregator, is ideal.
This “freemium” product allows the advisor to post and respond to many social media accounts from one central location. A favorite Hootsuite feature is the opportunity to schedule social media posts in advance.
- Paladin Research and Registry
This free-to-consumers site serves people seeking a professional financial planner. To appear in their directory gives an advisor credibility and exposure. For a fee, this investor watchdog organization will rate an advisor according to experience, education, certifications and other proprietary criteria. If the advisor passes the Paladin screening, he is eligible for a spot on its “five-star registry,” thereby broadening his professional profile. - Fugent
Fugent offers a variety of software geared to financial service professionals. Its app for tablets is a unique remote presentation tool for out-of-office client meetings. The beauty of the app is that the advisor can elaborate on any uploaded document or report’s content, trends and information by writing on the document with their finger. - Dropbox
Cloud-based back-up services: These storage and transfer systems are constantly improving in accessibility as well as security. There are many to choose from, but today’s advisor and her clients need a system to access and share important information from anywhere. Dropbox is one of the more popular and reliable. - Precise FP
Data-gathering is one of the most tedious parts of the financial advisor’s job. Precise FP outsources this task. Clients input their information and attach appropriate forms and documents, and Precise FP aggregates the data into consistent, user-friendly forms. The attractive sheets can present the client data in diverse formats. - Bookeo
Scheduling meetings can be time-consuming for both the advisor and staff, frequently leading to lost minutes or hours. Bookeo.com acts like a super-secretary/concierge. From a ‘get acquainted’ meeting to a follow up with an existing client, Bookeo takes care of making appointments, gathering the name, email, address, and phone information of the other party or parties. The system is highly customizable too. - Google Alerts
The advisor must keep up with his or her online reputation. Google Alerts is an ideal tool to find out the ‘who, what, and where’ of your personal and company mentions. Set up an alert for the company name as well as your individual name. That way, you know whenever you receive a media mention online. It’s a great way for the professional to monitor social media marketing efforts and online presence.
wealth management tools
- Right Capital
RightCapital provides you a financial planning solution that allows financial advisors to: differentiate their asset value for more clients, create a simple plan in a couple of minutes, and empower themselves to evolve with the planning needs of the investment industry. Currently, it is helping thousands of advisors grow, maintain, and spread their businesses and set up their clients globally for financial success.
Key Features:
You can demonstrate how your clients will be able to save money with an optimal tax-efficient distribution strategy.
Help protect your clients from financial disability or death. Evaluate their needs and requirements in different situations and craft out ways to ensure their success in every situation.
Use the unique student loan module to illustrate different payment programs so clients can reduce payments.
Cost:
You can request a quote on their website
- Morningstar Direct
Morningstar Direct is headquartered in Chicago and is a branch working under Morningstar. It is an investment portfolio management platform focusing on financial and risk analysis. Direct has empowered investors globally for many years now and continues to invent new ways to help people achieve financial security and authority of their own.
Key Features:
Direct enables you to evolve your expertise with detailed insights from one of the largest independent equity teams and the best product analysts in the world to get the most effective industry trends relevant to your work.
Use data, research, and analytics to make decisions frictionlessly and avoid time-consuming back-end processes.
Navigating through evolving market trends and new definitions through Morningstar to adopt sustainable investment practices makes you a reliable investor for your client, no matter what the situation is.
Cost:
You can request a quote from their website.
- Advisor Engine
AdvisorEngine, a New-based platform offers a B2B digital wealth management technology service. Exclusively built for financial advisors, this organization enables advisors to deal with typical wealth management clients and fully digitally-operating clients from a single platform. It happens to integrate its features with various technologies and financial services CRMs.
Key Features:
This wealth management platform empowers financial advisors to deliver a more engaging, personalized, insightful client experience and operate at scale through a smart automation facility.
Clients can quickly and conveniently view their portfolio performance data, like past transactions, holdings, and asset allocation, further enabling them to develop a strong relationship with their advisor.
It enables your firm to execute various tax management strategies, including tax-loss harvesting, the short-to-long term gains deferral, permanent gains deferral, and tax-sensitive transition, in an automated way to avoid time consumption and to yield better investments.
Cost:
You can request a quote from their website.
- MoneyGuidePro
MoneyGuidePro is exclusively designed for financial advisors with client considerations in mind to provide solutions and smart pathways to help advisors navigate their clients through complexity on financial grounds. The product is now supported by Envestnet globally.
Key Features:
You can map out your client’s future retirement years with the Retirement Cash Flow Chart technology and plot out their goals, options, and loopholes that can happen over the life of the plan, based on their current plan inputs.
Easily maintain, strengthen, and engage clients across all age bars and financial situations by facilitating a strong and long-lasting advisor-client collaboration.
The interactive Slider feature allows clients to alter plan elements that are within their control and immediately see the impact in their investment decisions.
Cost:
You can request a quote on their website.
- Geneva
Geneva from Advent Software, is an SS&C company, that has proven to be one of the best financial assets and global portfolio management solutions for hedge funds, asset managers, financial advisors, and wealth management managers. It has a history of excelling at portfolio accounting and position management irrespective of instrument, structure, and region. Locally deployed or cloud-based, Geneva enables investment managers and advisors to manage and grow their businesses efficiently.
Key Features:
The exclusive Advent outsourcing facility will help you customize a wide range of portfolio management-related issues according to your needs.
Under the umbrella branch of Geneva world investor, Advent has managed to combine the portfolio management system with investor accounting to serve best to the clients.
Geneva supports multiple fund structures and offers best breed reconciliation programs.
Cost:
You can request a quote on their website
- Ajaib
Ajaib is an investing platform that allows Indonesians specifically to buy and sell stocks, ETFs, and mutual funds. Powered by Ajaib Group, this brokerage platform gives online access to Ajaib Reksa Dana and PT Takjub Teknologi Indonesia mutual funds and their own securities company, Ajaib Sekuritas, that provides easy and affordable access to stocks.
Key Features:
The goal of Ajaib is to educate the Indonesian public about the importance of the investment industry as an asset for the future.
It has opened the door to free access to safe, trusted, and affordable investment instruments provided to the Indonesian public.
Ajaib Group’s stock and mutual fund services can be easily accessed online, by anyone.
Cost:
You can request a quote on their website.
- Riskalyze
Riskalyze is an Auburn-based portfolio management system. It has been assisting in transforming the advisory industry by strengthening the investment advisors capture a quantitative measurement of client risk tolerance through various detailed analyses and insights, and use the said client data to win new clients in the future, inspect and meet expectations and quantify suitability in the longer run.
Key Features:
Riskalyze allows you to tap into sophisticated analytics of the security, account, and portfolio fronts to let you design the perfect investment strategies and techniques for clients.
Riskalyze monitors your client accounts (past investments, investment strategies, finance-based data, etc.) so you can focus on making great decisions as an advisor when something urgent turns up.
Their home office tools which use a consultative approach enable all the advisors and compliance teams across the platform to decide on how to approach clients.
Cost:
You can request the quote from their website.
- RedBlack
RedBlack Software offers one of the leading portfolio management and rebalancing, and trading solutions used by asset management firms, wealth managers, investment advisors, brokers, and trusted financial companies. It supports automated rebalancing process and rapidly executing trades which results in improved portfolio performance of their clients and investors. RedBlack offers a more efficient and highly profitable practice that enables advisors to spend more time with their clients and understand the prospects of their interests.
Key Features:
RedBlack allows you to achieve a better portfolio modeling precision by assessing trade restrictions and your past investment decisions stretched over a specific time span.
It enables the investors to become more adaptable to the client’s needs with help of more juncture, flexible models.
It uses the concepts of tactical rebalancing, tax-losses harvesting, and making portfolio adjustments to make sure clients don’t lag behind and make intelligent decisions.
Cost:
You can request the quote from their website.
- FutureAdvisor
FutureAdvisor is a free, wealth management software meant to manage your stock portfolio, owned by BlackRock. The web-based subscription services and automated financial insights offered by FutureAdvisor allow consumers to manage their investments within a customized dashboard and portfolio.
Key Features:
It allows institutional quality, goals-based investment for various financial and wealth management firms.
It allows the clients to have a space that is personalized according to their needs and is a tax-aware platform for investors and financial organizations to communicate through.
FutureAdvisor has been successfully integrated with advisory firms to give better opportunities to its clients.
The funds, portfolios, and insights are daily monitored so that the consumers can make more financial-sound decisions.
Cost:
You can request a quote from their website.
- VestBerry
Vestberry is portfolio management and reporting software, specifically meant for venture capital and private equity. Vestberry manages LP & GP relationships by advanced analytics to develop transparency and good decision-making practices. It helps to manage nearly $ 4 billion worth of investments to funds that have already been invested in various globally operated companies and financial firms like such as Wolt, Masterclass, and Telegram.
Key Features:
Vestberry offers its clients, automation in workflow, reporting systems, communication with limited partners, and access to advanced analysis to let them make better investment decisions for the future.
It enables investors to work upon and evolve in their information amalgamation and management as well as develop automated quarterly LP reporting easier and relatively faster.
Every portfolio company, which has access to its own simplified, personalized space, can separate interface for actuals, budgets, and forecasts, bringing them more structured insights.
Conclusion
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