At Figg, we’re always seeking to understand the financial habits and preferences of our users.
To gain deeper insights, we recently ran a LinkedIn poll asking: "What would you use a wealth management mobile application for?"
The options were:
Tracking and Investments
Budgeting and Savings
Valuing Assets & Collectibles
Planning for Retirement
The results were telling. Tracking and Investments and Budgeting and Savings emerged as the top two priorities.
Why Tracking and Investments matter?
The leading response, demonstrates that users are highly focused on gaining clarity and control over their investments. In a world where stock market volatility, crypto investments, and digital assets are part of everyday conversations, the ability to easily monitor and manage investments is critical. Users want real-time data on their portfolios, seamless access to market updates, and the tools to adjust their investments as needed.
Budgeting and Savings: A core need
Close behind, this shows that people are just as interested in everyday financial management as they are in investment growth. Financial health isn’t just about making money-it’s also about managing it wisely. Users are seeking solutions that allow them to track spending, set savings goals, and ensure that they stay on top of their financial plans. Budgeting tools are a key factor in achieving personal financial milestones, such as saving for a home, paying off debts, or building an emergency fund.
Lesser interest in Valuing Assets and Retirement Planning
Though Valuing Assets & Collectibles and Planning for Retirement didn’t top the poll, they still play an important role in wealth management. Asset valuation tools could be a growing need for users with diverse portfolios, from real estate to art or collectibles. As more people invest in non-traditional assets, having the capability to estimate and track their worth in-app becomes increasingly valuable.
Similarly, Planning for Retirement may have scored lower due to users prioritising immediate financial concerns like budgeting and investment growth. However, long-term planning remains essential for building wealth, and users may turn to these tools as they gain confidence in managing their finances.
What does this mean for Figg?
These results provide clear insights into what our users value most in a wealth management app. As we continue to develop and refine our platform, it’s crucial to focus on delivering powerful tools for both investment tracking and budgeting. Additionally, integrating robust asset valuation and retirement planning features could enhance the user experience, making our app a comprehensive financial management tool.
At Figg, understanding user preferences is central to our mission of empowering individuals to manage their wealth effectively.
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