In today’s modern society, evolving technology has become easily available and as a result has allowed many users to invest in confidence. This technology comes in the form of online tools available on a computer, as well as apps that can be accessed using a smartphone.
New technological innovations impacting the investment world
There are several technological innovations that have made investing easier for many. Firstly, there is the bitcoin technology with its single database which is massively replicated and distributed and has no central coordinating point. The technology can be used to create a worldwide and low cost payment mechanism transacting with multiple currencies. This is said to be simpler, more secure and faster than any bank-based alternative.
Business application programming interface (API) is another innovation that aims to make various business functions available on the internet as components. As such, some companies are developing an electronic payment processing system for businesses using this technology.
Yet another technological innovation is a crowd-sourced identity system that is based on social media. This will facilitate the “Know Your Customer” (KYC) activities of banks and other financial players so as to make the banking and investment industry more secure.
There are also online tools and phone apps that individual users can use to perform their investment transactions or keep track of their investments. One is Personal Capital with which an investor can link just about any investment account, be it taxable or retirement taxable. Once these accounts are linked, the smartphone app is able to track performance and the allocation of assets, as well as fees. The use of graphs makes it easy for the user to compare the returns made to an index or to understand the asset allocation of a given portfolio.
Morningstar is another tool that is used for investment tracking. After entering an investment portfolio, the tool evaluates the investments, with the help of other leading tools available in the market. These tools include performance and investment costs as well as index comparisons.
Mint.com is a budgeting tool cum portfolio tracker. With it, the investor can link bank accounts, investment accounts and credit cards in one place, after which the tool is able to track investment performance as well as investing fees.
Google Finance, a free portfolio tracker, allows the investor to manually enter or upload portfolios, for which it then tracks performance, both daily and overall. It also provides information on an investment’s fundamentals as well as news items linked to a particular investment.
Wes Edens: a professional investment banker
When embarking on investment, it is important to go about it the right way. This usually involves seeking the services of professional investment firms that will provide sound advice on the investments to choose.
Wes Edens has worked for many years in professional investment firms, and would be well placed to give the kind of investment advice that would be required. He is a principal, founder and Co-Chairman of the Board of Directors of Fortress Investment Group LLC, a company worth $62 billion and which specializes in alternative asset management. He is also the co-founder of Newcastle Investment Corp, a real estate investment trust.
Technology has made investing easier for many, and as such a lot of people are now investing with confidence. These users are not only individuals, but are also corporate operators. As a result, placing ones trust in an investment firm, such as that owned by Wes Edens, would ensure that one is leveraging not only the available technology, but also the best human minds in the business, with a wealth of valuable experience.