Rising Demand for Custom Apps for a Financial Advisor

Financial technology has continued to lead to more demand for certain products such as applications. From something as common as swiping your debit card, you then have the ability to jump on an app to nearly instantaneously view the transaction. In the financial advisor sphere, there is a growing demand for applications that all clients and firms to transmit certain types of data.

You are currently seeing this in the financial advisor space currently with large firms such as TD Ameritrade and Fidelity. The ability of their clients to open an application, see their account and make certain adjustments all from the convenience of their mobile device. Going forward, for financial advisors, if they are going to remain competitive in this current market, they will need mobile apps.

According to the 2019 EY Global Wealth Management Research Report, 41% of clients prefer mobile applications for wealth management activities. The benefits of having a mobile app are as follows.


Many times, your clients are simply wanting to check their statement or put in a purchase or sell order. With technology today, the need to speak with an individual to complete these transactions simply isn’t necessary. On the firm’s end, this frees up time and resources that otherwise would have been allocated to customer service.

Certainly, there will still be a need for conversation, but simple transactions will limit in-office resources.


Another demand that will be met is data or information. If your client simply wants to see their current year-to-date returns on their portfolio, they can access the app and see the data within seconds. Also, they can research certain investments if the application is detailed enough.

From a firm’s standpoint, you can view how people are using the app. This means if any of your clients are purchasing certain assets, you can begin to see a trend and identify what the cause of this is. Also, you can simply receive client feedback when attempting to optimize the app.

The need for a custom apps for financial advisor is growing each and every year. Eventually, it will be commonplace that each company has their own app. Take the time to understand what your market wants and needs, along with the functionality of the app. Always make adjustments and eventually it will be an efficient mode of communication with your audience.