With tablet and smartphone use on the rise, there is no shortage of finance applications for such devices. Several investment management firms have already created apps for the iPad. On Thursday October 25th, Invesco followed suit announcing the launch of a new app intended for financial intermediaries and investors.
Though it's still a bit early to tell how much advisors and clients will like and use the app, the good news for Invesco is that advisor tech expert Bill Winterberg of FPPad.com gives this app a passing grade.
"I think it's in the top tier of apps for asset managers," Winterberg said in a phone interview. "It shows they invested the time in getting the user interface right."
Available on from the iTunes App Store, the new app will provide "on-the-go access" to investing resources, according to Invesco.
According to a statement from Invesco, the key app features include the following:
• Product finder to identify appropriate strategies across a comprehensive range of asset classes.
• Personalized views of product data through interactive charts and graphs.
• Customized briefcase for products and commentaries that can be shared with clients and colleagues.
• Insights and analysis from Invesco investment professionals.
• Exclusive business-building ideas from Invesco Consulting, a team specializing in innovative techniques for financial intermediaries.
Invesco's goal is to provide this information via personalized connections, said Andrew Schlossberg, head of U.S. retail distribution and global exchange traded funds.
"This app, along with our other mobile and social media strategies, allows our clients more choices about when and where to interact with us," Schlossberg said. "Our goal is to make those interactions as simple and convenient as possible."
We asked Winterberg to take a look at the app and give us his perspective on how successful it is as an app. He pointed to two main ways he thought financial advisors might like to use the app including researching Invesco product information and studying Invesco's perspective on market analysis.
"It's a nice quick way to do this," he said. "Yeah you can do this on a desk top, but it's nice, if you have the time, to sit on the couch and browse the app on your tablet."
However, perhaps one of the most important reasons that the Invesco app gets past Winterberg's screening is that unlike the low-tier asset management apps in his ranking, Invesco's has fresh content made specifically for tablets. He cited elements you interact with, like swiping your fingers to get more information and the the mutual fund dial.
"It's not just regurgitated web content splashed on a tablet screen," Winterberg said.