Francesco Coccimiglio Explains How Technology Impacts Investing

Francesco Coccimiglio is a Portfolio Manager and Investment Advisor committed to educating his clients, as well as the greater public. As such, he is excited about advances in technology. Not only does fintech do a fine job of educating financial non-experts, but it streamlines smarter decision-making for experts and non-experts alike.

According to Dan Egan, managing director of Behavioral Finance & Investing at Betterment,  “There are some nice but generally niche things that consumers can look forward to”. Technology will continue to lower costs, increase security, and provide options and greater ease to advisors and clientele.

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What Is Fintech?

Fintech is merely industry shorthand for all the ways that technological advances empower more informed financial decisions. Included within fintech is all manner of financial management software, from bookkeeping tools like QuickBooks to investor apps like Fidelity Investments and Stash.

Apart from the consumer side of fintech, financial advisors like Francesco Coccimiglio can manage their client portfolios with greater expertise. Fintech provides real-time data with additional tools for rapid response.

How Technology Impacts Everyday Spending

Financial management technology allows investors of all levels to have more resources with which to gain better returns. This is due in large part to fintech’s impact on lending, budgeting, and introductory investment tools.

Technology has made all these financial components more efficient and less intimidating to users who do not have a background in the industry making more people have an interest in investing.

Reducing Liabilities

On the one hand, fintech has made it easier for people to take out loans. However, fintech has especially opened the door to greater credit awareness for the average consumer.

The result is that individuals are more inclined to borrow when it most makes sense, often using alternative lending methods that are more manageable. A prime example is a credit monitoring app recommending 0% introductory credit cards to refinance other debts.

Additionally, advances in fintech motivate people to pay off their debt faster. Financial management apps show debt reduction progress and boost in one’s credit, all of which inspire the individual to reduce their liabilities at a faster pace.

Lowering Unnecessary Spending

Fintech budgeting apps demonstrate in more accessible ways of how individuals spend their money. Francesco Coccimiglio explains that the result of lowering unnecessary spending is that the average consumer spends with greater care and self-awareness. Consumers then have more money to put towards mutual funds and investment opportunities.

Accessing More Reliable Risk Management Tools

Financial managers are more equipped to collaborate with their clients about the proper risk management options – namely insurance – that can further protect client wealth and well-being.

Life tragedies are less impactful with the right risk management tools, and fintech has leveled the playing field for more providers, as well as demanding more transparency from risk management businesses.

How Technology Educates Investors

Technically, anyone can become an investor. Fintech makes more tools available for novices. Additionally, those that think that they don’t have enough capital to invest are joyfully mistaken.

Investor apps like Acorns and Stash help consumers stow away dollars and cents in safe investment opportunities that build up over time. Further, those that allow themselves more margin to learn about investing basics can take advantage of fintech tools like Betterment and Robinhood.

How Technology Empowers Financial Advisors

With greater experience and knowledge comes a stronger return on investment. Fintech consumer apps do wonders to help people without a finance background gain an interest in investing.

But the greatest benefit that technology offers to the world of investing sits in the laps of financial advisors. Portfolio management is complicated, and full-time financial experts become better at their jobs with the latest in fintech tools.

Francesco Coccimiglio notes that fintech tools like eMoney Advisor offer financial managers real-time market data and intuitive financial statement prep and sharing. Another finance tool, MoneyGuidePro not only empowers advisors to do more with less, but it also offers a client portal where consumers can test different investment options.

Between the consumer-end and expert fintech tools, the average client is more informed, and the average financial investor is better equipped to invest their client’s knowledge and resources into smarter investment decisions.

In Conclusion

Far from slowing down people from achieving investment goals, technology has streamlined everything. Bank deposits show up immediately. Credit scores update in days. The investor market is more competitive and favorable to the average consumer.

Knowledge is power, and therein lies the greatest advantage in fintech today. News and trends reach the awareness of investors almost immediately. Fintech tools highlight waste and hidden investment opportunities.

Francesco Coccimiglio concludes that the 21st Century is a great era for investing.

If you are interested in even more business-related articles and information from us here at Bit Rebels, then we have a lot to choose from.

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