Checking Investments from Your Wrist or Your Eye


We live a world that we still check our wealth from our laptop or our smartphone.

Tim Cook is leading us to check our wrist for our health. Wearables for our finances, are still in the “nice to have” category and nowhere close to becoming the next black. Will Goldman Sachs change that, with some Marquee version for our smartwatch; that will make every yuppie envy those that have access to it?

Pact is the best app that you can earn cash for achieving your fitness and wellness goals. Users can earn cash for being active, paid by members who don’t. (Warning: not available for iwatch; GPS running in the background will drain your battery). Banks could lure customers with this type of “health money” that could be incorporated in their royalty programs.

Seems however, that nobody feels that there is a great opportunity in the shift from the mobile device in our handbags, to our wrist or to our eye (i.e. Google Glass). Blockchain is stealing the show, as a potential way to store securely biometrically collected data; and then create value. Smart watches and Smart Eyeware, have not hit any tipping point and therefore, are not seen as The Way, to collect Big data for financial services. Most finance apps for our wrists (none commercialized for our eyes) are only functional in tandem with our smartphones. The majority have bene focused on very basic consumer banking services (tracking expenses, credit cards).

While researching the wearable space in financial apps, I realize that almost all of them are focused on information, alerts, monitoring and KYC. I checked amongst brokers and broker-dealers; I had to dig and dig to make sure that the apps are available for android or ios watches, and only to discover that very few are offering trade functionality. The first mover, is London based brokerage and spread betting provider, IG Group; with their Apple iwatch app that allows for trading in CFDs and stocks.

screen-shot-2016-09-23-at-6-09-52-amIG Group app screenshots

Ameritrade is the other app WITH execution capability.

From the Fintechs, Robinhood has been keen to offer both apps (Apple store and Google Play) for clients and Buy-Sell capability. All other apps, once you decide to transact you need to switch to your smartphone. Openfolio, offers portfolio tracking and comparison to other investors in the network. SigFig offers similar functionality. StockTwits app with their social focus, is in the game.

From broad app developers, there are lots of android apps to monitor the market on your wrist:

Finance Stock Watch, offers a clean snap of one stock or index a time, color coding the moves of the financial asset.

Quote Face, can show holdings in your portfolio on the watch.

Stock Ticker, checking on your finance and your investments.

Similarly in the Apple store:

Stock Tracker, offers real time quotes, pre-market and after hours quotes, portfolio monitoring, tech charts, alerts (smartphone app has swipe to trade functionality with multiple brokers but not the smartwatch one).

Stock Pro, is another comprehensive real time stock app.

From the large incumbents:

Fidelity mobile for Apple Watch, was one of the first movers when the Apple Watch debuted 1.5yr ago. Their app has real time data and alert functionality.

E*Trade, the old time disruptor, also launched a smartwatch version, again with similar capabilities as their mobile sites but no execution.

Charles Schwab invites its clients to discover and initiate a trade (one watch screen covers markets and the other your Schwab watch list or portfolio) from their wrist and then switch to their phone to complete the transaction.

AJBell Youth, has Ios and Android apps for assisting customers on the go.

Social trading platforms like EToro or Zulutrade, don’t have smartwatch versions of their mobile apps. FX trading, has more advanced market monitoring and charting apps, like Swiss Dukascopy app and Japanese SBI FX trade app.

Daily Fintech Advisers provides strategic consulting to organizations with business and investment interests in Fintech & operates the Fintech Genome P2P Knowledge Network.  Efi Pylarinou is a Digital Wealth Management thought leader.

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