Thousands upon thousands of Americans turn to financial planners every year to make sure their money is being spent wisely. I’d argue that the average American consumer has very little understanding of how the markets work, which makes financial planners and advisors seem like something of magicians. We, as a culture, are generally money-averse—we don’t like to talk about it, we don’t like to think about it, and we’re not educated very well in terms of financial thinking.
And so it’s very tempting to think of financial planners as know-it-alls who have some secret access to information the average person isn’t privy to. But this, ultimately, is illusory.
Now, I’m not knocking financial planners in the least. Using a strong educational background, they provide an essential expertise that helps countless people head towards a steady financial future and retirement. My parents have thrived with relatively low capital thanks to their financial planner.
But the at-home traders are able to see behind the curtain somewhat and realize that a financial planner’s prowess comes from their educational background and through a suite of tools they use to help make their jobs easier. This is true of basically every profession—Google really is the average employee’s best friend—but, because of the poor financial education I mentioned above, it’s amplified with financial planners.
That’s why I’ve gathered three programs that actual planners and advisors use, which are readily available to those of us trading at home.
Powered by one of the largest independent research organizations in the world, CFRA Equity Research allows traders to access unmatched analyses anytime, anywhere at astonishing speeds. Focused around big data, CFRA allows you to gain a comprehensive view on global sector themes, industries and companies by digesting the data of over 12,000 quantitative and 1,500 qualitative reports on over 5,000 corporations worldwide.
So much of understanding contemporary finance is about grappling with massive quantities of data instantaneously. CFRA Equity Research accomplishes in minutes what no person could in a year. Financial advisors use these kinds of analyses to see micro and macro trends—now you can too.
In the 21st century, algorithms make the world go round. So much of what we interact with on a day-to-day basis is powered by smart software engineering and design. However, if you’re like me, you know next-to-nothing about programming. Where’s that leave traders like me? A step behind.
That’s why Algo Trading With TSLAB is an invaluable resource. It lets me build algorithms to my catered needs quickly, without having to take an entire programming course.
The Chaikin Analytics suite is a great way to cover your bases, with news access, comprehensive analyses and so much more under one umbrella.
But their PortfolioWise feature lets you trade like a pro thanks to its incredible portfolio builder. A research platform that combines high-power with time efficiency, create entire portfolio proposals in minutes. If you’re looking to get clients or compare different strategies, Chaikin Analytics can’t be missed.