Best Apps For Financial Advisors

Best Apps For Financial Advisors

In the past few years, financial advisors have begun to embrace digital tools that help them better connect with their clients and manage their portfolios. As these technologies have become more sophisticated and accessible, they’ve found a place on every financial advisor’s smartphone.

We’re always working to keep up with the newest, most innovative apps in the industry, so we’ve compiled a list of our favorites. From client-relationship management to portfolio management to business management, here are the top apps for financial advisors:

10 Financial Planning Apps-Get Financially Fit With Your Phone

Best Apps For Financial Advisors

  1. Personal Capital: Complete Money & Investing app
    Management Fee: Free (Paid services available)

Available for Android and iOS.

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Personal Capital offers the ability to see all of your finances in one place. The 22,000 reviews net an average 4.7 ranking. This is one of the best financial planning apps.

Personal Capital reports trends in your spending, and does an asset allocation review to make sure you are getting the most out of your existing investments.

This robust financial app offers a retirement planning tool and a window into your entire investment portfolio with recommendations to earn greater returns.

More than a net worth tracker app, Personal Capital offers these free reports:

  • Net Worth and Account Balances
  • Personal Capital Budgeting
  • Cash Flow Analysis
  • Income Report
  • Spending Report
  • Investment Returns
  • Asset Allocation View
  • Retirement Planner and Fee Analyzer
  • Investment Check-up

Personal Capital compares favorably with the expensive Quicken money management program. All of these benefits come for free and with bank-level security to protect your information.

  1. Acorns: Micro Investing app
    Free download: Fees-minimum $1/month, or 0.25%/year of managed assets.

Available for Android and iOS.

This ingenious money app builds wealth as you go through your day. Acorns makes investing easy by helping you find money (read: the spare change left over from your daily purchases). This money—no matter how little—is invested in your portfolio.

The idea behind this money app is that small steps make a huge difference in terms of your finances. This is a logical way to get started investing-and you won’t even miss the money.

Taking your money out is just as easy as putting it in; Acorns allows you to withdraw any time with no penalties. In order to provide this service, Acorns charges a small amount of money monthly for investors with less than $5,000. Once your portfolio reaches $5,000, you are switched to a flat rate of 0.25% yearly.

In 2016, Acorns stock investments came in 2nd in a robo-advisor comparison analysis.

robinhood app

  1. Robinhood: An Investing App for Everyone
    Management Fee and Commissions: Free (Premium services extra)

Available for Android and iOS.

The name of this stock market investing app should immediately spark your interest. The premise of Robinhood is that everyone should be able to invest, so the app offers a simple dashboard that makes it easy for investing newbies to get their feet wet.

Robinhood is a commission-free stock trading app. They charge for premium services like margin trading.

Robinhood offers customizability. Users can choose a different investment strategy depending on the stocks they purchase.

The app teaches you to invest. Robinhood advocates a “learning by doing” approach, and is designed to help you succeed even if you are an absolute beginner.

  1. M1 Finance: DIY and Managed Investing App
    Management Fee: Free (M1 Plus charges an annual fee for additional services)

The M1 Finance financial planning app is like having a financial advisor in your pocket. For investing, the M1 Finance app offers access to pre-made investment portfolios or thousands of individual stocks and funds. The many pre-made portfolios include:

  • Socially responsible
  • Income
  • Retirement
  • General investing

Similar to a bank M1 Spend offers a high yield checking account and 1% cash back debit card.

The M1 Finance financial advisor app allows users to borrow at low interest rates, after investing $10,000.

  1. Axos Invest: Automated Financial Advisor App
    Management Fee: 0.24% AUM

Available for Android and iOS.

Axos Invest is a financial advisor in the palm of your hand. You let the robo-advisor know what your goals are, and the investing app sets out to help you automate your money to achieve these goals.

You can start from scratch, or roll over existing retirement plans so everything is managed in one spot. Axos Invest is one of the earlier robo-advisors with a $1 minimum investment and 0.24% AUM fee.

This app is perfect for the millennial looking to begin investing for the future, with the opportunity to choose specific investment tracks that fit with your values like:

  • Blockchain Stocks
  • Precious Metal Stocks
  • Internet Innovators Stocks
  • Digital Security Stocks

Prospecting tools for financial advisors

  1. 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.
  2. 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.
  3. 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.
  4. 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.

  1. 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.
  2. 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.
  3. 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.
  4. 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.
  5. Bookeo
    Scheduling meetings can be time-consuming for both the advisor and staff, frequently leading to lost minutes or hours. 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.
  6. 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.


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