There’s nothing like starting your day with a cup of coffee, some breakfast — and a look through a couple of mobile apps.
That’s how Michael Newton, a Toronto-based portfolio manager with ScotiaMcLeod Inc. starts his day. Newton uses mobile technology to get an early look at the markets and ensure he stays on task for the rest of the day.
Newton shares some of his go-to apps for advisors:
> CNBC
Newton’s first stop is CNBC. The U.S. cable TV channel’s mobile app wins Newton over with its stock quotes, which are published in real time.
“As a portfolio manager,” Newton says, “I own individual stocks and exchange-traded funds and I need to know, at least in the short term, what the day is shaping up to be.”
The CNBC app is available free of charge on Android and Apple smartphones. It promises real-time stock-market quotes from the New York Stock Exchange and NASDAQ, as well as breaking news alerts and analysis on world markets and investment news.
> Seeking Alpha
Seeking Alpha focuses on individual U.S. stocks and provides macroeconomic commentary. When Newton opens this app, his first stop is its “breaking news” section. News alerts come as frequently as every 30 seconds, he says.
On an Apple device, search for the “Seeking Alpha Portfolio” app; on Android devices it is called the “SA Stock Market News.” This app is also free of charge.
> Evernote
The Evernote app can be used to collect and organize the online articles you read. You can “clip” or save the links from stories into the app, so you can easily return to them when you have time.
You can also record reminder notes, collect research and organize projects.
Says Newton: “It’s become the de facto organizational tool for North America.”
Evernote can be synchronized across your desktop computer, tablet and smartphone. This means you can access your materials at practically any time.
This app is available on Apple, Android and Blackberry smartphones and the iPad, as well as Mac and Windows computers. There is a free basic version, which can be upgraded to a premium version for a minimal monthly fee.
> Dropbox
The Dropbox app holds your documents, videos and photos. These items are saved into the “cloud,” so you can access them from practically any device with an internet connection.
Newton says this app provides the convenience of staying on top of his responsibilities regardless of where he is. “If I want to pull up a spreadsheet or if I want to pull up my son’s homework,” he says, “it’s all residing in the cloud so I can see it wherever I am.”
As a cautionary note, this app should be used for business management, not client management. For example, for security issues, Newton is unable to access Dropbox from his corporate computer and he does not save any documents containing client information into Dropbox.
You can download Dropbox onto an Android or BlackBerry smartphone, iPhone, iPad, or Kindle Fire device. It is also accessible on Windows and Mac computers. The basic version is free, but you can upgrade to a “pro” version for a small monthly fee.