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There's An App For Everything

A Financial Advisor's Perspective on Investing Apps with Randy Vernon

In today’s society, it seems like there’s an app for everything – now including investing. You may have seen some of the recent media coverage around app-based investing and how it can be challenging to manage on your own. That’s why I’m here today to help break down why using a trusted Financial Advisor is often more effective than using an investing app.

First, using an app may not calm your fears during market declines. Market swings are common and it’s so important that you don’t make impulse decisions that can be detrimental to your finances. When using an app, you can make trade decisions based on the market having a “good” or “bad” day and often these are irreversible and difficult to recover from. A trusted advisor can be a sound voice of reason during turbulent times and guide you through these choices with experience and knowledge.

Second, an app isn’t there to guide you when life major events arise. Some of these positive events, such as marriage or having children, require us to rethink our financial plan to include another person in the picture. Other circumstances, such as death of family, divorce and unexpected job loss, can also require adjustments to help you stay on track. Working with a specialized financial planning professional can provide a high level of confidence when you face unexpected changes in life.  

Lastly, an app will lack the personal touch and knowledge of an advisor. A good financial advisor will be able to explain complicated financial terms in a clear manner and determine the types of financial products that best fit your unique situation. A financial professional can recommend the products and services along with professional advice that is better suited to assist you in achieving your goals and objectives.


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Wealth Management

Elements Wealth Management
225 South East Street; Suite 156
Indianapolis, IN 46202