Finance: Navigating investments and savings – should you do it yourself?

Marius Fenwick | Director/Co-Owner at WealthUp 

Investing has been revolutionized by the digital era, with investment apps offering accessible and affordable options for managing portfolios via smartphones. However, traditional investing through financial advisors and brokerage firms still holds value. Let's explore the advantages and disadvantages of both:

Investment Apps:

·         Accessibility and Affordability: Lower barriers to entry with low/no minimum investment requirements and reduced transaction fees.

·         Ease of Use and Control: Intuitive interfaces, educational resources, and real-time tracking offer users control over their investments.

·         Diverse Investment Options: Wide range of choices including stocks, ETFs, and fractional investing for diversified portfolios.

·         Limited Human Interaction: While convenient, lacks personalized advice provided by financial advisors.

Traditional Investing:

·         Expert Guidance and Personalized Advice: Financial advisors offer tailored strategies based on financial situation and goals.

·         Holistic Financial Planning: Comprehensive services covering various aspects like retirement planning and tax optimization.

·         Trust and Accountability: Builds trust through face-to-face interactions and dedicated support.

·         Higher Costs: Typically involves higher fees based on assets under management or per-trade commissions.

In conclusion, both approaches have their strengths. Investment apps offer accessibility and control, while traditional investing provides expert guidance and trusted relationships. Consider your preferences, goals, and comfort with technology to determine the best approach for your needs. Remember to stay informed and align decisions with long-term financial objectives.