From buying groceries to managing money, technological developments have touched nearly every aspect of our day to day lives. For the most part, people see this impact as being positive. As a result, many people trust technology to handle even their most personal activities, such as banking. In fact, it has been found that 73% of people use online banking monthly. While technology has already begun to impact banking and investing, further adoption can be expected in the years to come.
Zain (News - Alert) Andani is the managing director for Fatemah Nurseries. Zain resides in London, England, and graduated from Portsmouth University, where he earned a first-class Honors BA in International Finance and Banking. As managing director, Andani is responsible for handling the finances of all of the Fatemah branches across the U.K. In addition to these responsibilities, Zain also helps his father run Fatemah Properties LTD and Fatemah Investments LTD, sister companies of Fatemah Nurseries. He shares his insight into how technological developments have impacted the investing industry.
Expectations
The use of technology in the day-to-day lives of investors has changed expectations when it comes to managing investments. Technology, and mobile technology, in particular, has resulted in a simpler, faster and more streamlined way of doing things. As a result, investors expect the same experience when working with an advisor or technology-based investment tool. Today, the investment industry is expected to offer solutions that provide fast, informed and up-to-date information at the touch of a button. As Zain Andani points out, this means investment firms and advisors will need to pay close attention and ensure that they are fulfilling the needs of their clients. For instance, making sure that they are easily available for consultation, that they provide support using digital technologies, and that the tools they offer are mobile-friendly.
Combining Human Experience with Technology
Investors are becoming more comfortable using technology to manage their finances. In fact, many investors see the value of combing both human experience and technology when it comes to investing. Research shows that 55% of people prefer a balance of human advised investment support and technology-based input. Technology will never completely take over the investing industry, as not all financial activities are thought to be suitable for tech-based tools. According to a study by TD Ameritrade, 72% of investors prefer to use technology only for simple analysis and to help them gather information to better inform their investment decisions. However, when it comes to questions, concerns, and the need for advice based on experience, professional financial advisors are still preferred. Zain Andani views this as being a positive impact on the investing industry, allowing advisors to work alongside advanced technology to provide the best possible advice and service.
Zain Andani on the Increased Interest in Investing
Overall, the introduction of technology in the investing industry has resulted in a surge of attention. Online trading platforms, analysis tools, and the general amount of information now available online have piqued the interest of many. For some, the information is new, resulting in a large group of intrigued and potential life-long investors. For others, the convenience that technology has brought to the investment world has increased involvement and participation in investing options. As technology-based tools continue to make their way to the investing industry, Zain Andani expects this interest to grow.
