According to the latest data from Gallup, more than half of American adults are currently invested in the stock market. While stock ownership tends to correlate with age and income, easier access to investment information means that anyone of any demographic can improve their trading skills and make money through buying and selling on the stock market. Accessing research, using digital investment platforms or taking advice in person not only boosts confidence but provides valuable insight into the world of trading stocks and shares.
Gaining Insight through Investment Research
Of the many potential investors looking for advice on the stock market, over 40% are unwilling to hire an advisor because of the cost. While investment apps are a cheaper way to access basic advice, most people still prefer the personal touch and put more trust in guidance from someone with real experience of investing in the stock market. At the same time, they are looking for easier and quicker ways to find information and advice on trading in order to grow their wealth. As a compromise between a costly personal advisor and wholly automated digital platforms, potential stock market traders are able to access affordable and highly valuable investment research. Personal analysis, insights and recommendations can help to give investors direction, and make informed decisions about their future trades, without having to hire their own financial advisor.
Faster Trades with Digital Platforms
While in-person investment advice is often preferable, almost 12 million households in the US are using robo-advisors to help manage their finances. And according to a recent investment survey, three quarters of Americans are now familiar with financial apps.
Digital investment platforms provide automated financial planning advice through algorithms based on information provided by clients. This can be attractive to many investors as buying, selling, checking and altering investment funds can be done very quickly and with little intervention.
Individual Attention from A Personal Advisor
With the greater availability of reliable investment research and easily accessible financial apps, only 17% of Americans use a financial advisor for their stock trading. While it is harder to determine if personal advisors can help to make investors more money, there are other benefits of working with them that shouldn’t be overlooked. Clients of personal advisors enjoy the individual attention they receive, with regular updates on the progress of their investments and help with making the best financial decisions. Personal advisors are also in a position to deal with other financial issues such as taxes, which can have a significant impact on other growth building investments. To help advisors compete with technology, they can use it themselves to improve efficiency and grow their business, but without losing the personal touch.
By taking advantage of a wider range of affordable and accessible investment resources, more Americans are able to make money with stock. Confidence in investing is boosted by the use of research services, simple financial apps or the assistance of a personal advisor.