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Leveraging Technology for Your Investments

We use technology for just about everything and the Internet has really facilitated that movement. The time between “I wonder” and “I know” has become infinitesimally small thanks to resources like Google and Wikipedia. At the same time, we don’t necessarily want to relinquish all control to the computers, but we do want to leverage them to our advantage. The same is true when it comes to our investment and financial decisions. And that’s where BMO’s adviceDirect can be remarkably useful.

This is not an auto-trading algorithm. You don’t simply deposit your money and let the magic of 1s and 0s do the work for you. Instead, adviceDirect is almost like a digitized version of a human financial advisor. While there are certainly still some advantages to having a real person help manage your investment portfolio, much of that can be automated, especially when the computer has access to so much data and can predict all sorts of trends.

With adviceDirect, you get investment advice from the web-based interface. Of course, there is no such thing as a one size fits all model when it comes to investing and that’s why it’s careful to see what kind of investor you are. Are you willing to take bigger risks for potentially bigger rewards or would you rather stick to more modest gains that are far less risky? Are you looking at a longer time horizon, as would be the case with retirement savings, or do you want to make a bigger return right now? BMO’s adviceDirect takes all of that into account.

From there, it can give you advice about where you should invest your money, what you should buy, when you should sell, and so on. Since it’s “just” advice, you don’t necessarily have to do what it says; the decision is still ultimately yours.

When you get started, the system will analyze your portfolio and look for ways to optimize it. It looks at four key criteria: asset allocation, diversification, rating and risk. If it sees an asset that doesn’t quit fit with your goals, adviceDirect will suggest a suitable alternative. It’ll also make sure that you don’t over-invest in a single industry.

Yes, we can use technology to apply filters to our cell phone pictures and we can use technology to keep up with the latest news coming out of Cupertino, but you want to make sure you take care of your cash too. The adviceDirect product from BMO InvestorLine is one of the more powerful, yet simple ways to do just that. Check out the embedded videos and click through for more information.

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