In the age of the Internet, where information is literally at your fingertips on a device you practically always carry with you, it’s no surprise that even the most novice investors can navigate their way around an online broker and start investing simply. While there are some benefits to visiting a bricks-and-mortar investment house in person to get advice from a professional on what kinds of investments might be suitable for you based on your financial goals and comfort level with risk, many people choose to invest in one or more stocks or funds without any professional consultation at all.
This article will mention why digital wealth management in Singapore may be right for you if this describes your situation.
1) Investing From Home
One of the many benefits of digital wealth management is that you can do it all from home. This means you don’t have to get in your car, find a parking spot, and then spend time commuting to an office building where the financial advisor works – instead, you’ll just log into your computer or mobile device. Also, with 24-hour trading for most online brokers these days, you won’t have to worry about working around inconvenient business hours when making transactions.
2) Convenience of Anywhere, Anytime Trading
The beauty of digital wealth management is that you can access your account and make transactions any time you want, from nearly anywhere in the world. This means if you’re retired and living on a pension near the beach in Thailand but still want to participate in buying and selling stocks back home, all it takes is an Internet connection to start investing right away – no need to fly halfway around the world to talk with someone at a local branch office.
3) Digital Record-Keeping
Since this service is for self-directed investors who are already used to tracking their budget, savings, and other investments (such as through unit trusts, shares, and Forex trading), digital wealth management is a natural fit for people who are comfortable managing their records. This also means your portfolio will be kept safe in the cloud, with no need to worry about fire or theft of paper investment portfolios that are often left at home.
4) No Need to Meet Face-to-Face With The Advisor
Another benefit of digital wealth management includes eliminating the need to have an appointment to meet in person with your financial advisor. Also, some wealth management shops charge extra fees if you want access to more than one professional’s time when seeking advice on which kinds of investments would suit your needs best – this eliminates any confusion or conflict of interest when dealing with your account.
5) Less Paperwork and Faster Transactions
Traditional wealth management shops require much more paperwork than their online counterparts, which means longer processing times for certain tasks. Because you are working with an Internet broker, there’s no need to fill out forms or other documents once you sign up – everything is done through the computer, so log in and start trading today.
6) Higher Returns on Investments
One benefit of digital wealth management is that it allows investors closer access to the market to track specific stocks closely. This might mean that clients would be able to make better trading decisions, seeing how headlines affect different companies’ stocks price fluctuations.
With so many benefits of digital wealth management in Singapore, it’s hard to ignore the advantages of this innovative form of finance. Digital wealth management can give you more freedom and control over your finances while giving you access to a wider variety of investment opportunities than traditional banking would allow.