A new study has shown 49% of money managers with accounts totalling at least $10,000 use a smartphone to keep track of the market at least three times per week. The information comes from research performed by E*Trade — and collated here by eMarketer — and is broken down as follows.
Research shows 49% of finance professionals use a mobile app more than three times per week
Twenty seven percent of respondents check an investment or trading app at least once a day, and 22% use one two to three times per week. Those money managers aged under 34 were most active, with 36% of the age group using an app each day, while 33% of those aged between 35 and 44 preferred to engage with a financial app on a less regular, two-to-three times per week, basis.
Apparently, two-thirds of those polled stated mobile apps would only become more important, and 51% expected to use smartphones and related apps on a more regular basis over the next year.
Stock quotes and portfolio management are the top mobile tasks
Getting stock quotes and managing portfolios were the two most popular — and unsurprisingly, also the most time sensitive — mobile tasks, with 42% doing the former, and 37% the latter. Dealing with orders came next, with market monitoring at 34% and actually placing orders at 27%. Only 7% said they used their smartphones to watch video content related to investing.