It’s no question that technology is infiltrating most industries in our current world. All over the globe, older generations are watching the evolution of the devices they once thought would never exist. These days, it feels like we’re one car upgrade away from becoming Marty McFly and Doc Brown!

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While we can’t promise time traveling cars in the investment industry, we do see the rise of AI-powered investment applications and platforms.

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We recently conducted a survey across the US to evaluate what people tend to rely on for information before making an investment decision. Of the 1,000 people evaluated, 21% of people reported they use online investment platforms and apps before making an investment decision.17.1% of people stated they turn to a financial advisor before making a decision.

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Well, what if we told you that you could use an app that served as a financial advisor? Well, we’re sure you’d be overjoyed!

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George – our CEO here at Prospero.ai – is sharing some things you should consider as you assess the trustworthiness of an investment resource. His hope is: By evaluating the following criteria, you will find an investment tool that works just for you!

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Tip #1: Assess Your Investment Goals

Understanding your financial goals is the first step in finding the right investment resource. Are you saving for retirement, a major purchase, or simply looking to grow your wealth? Different resources cater to various investment strategies, so aligning their expertise with your objectives ensures you get the most tailored and effective advice.

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For example, if you’re looking to invest with the goal of a comfortable retirement, you would consider looking for long-term investments. An IRA or 401(k) can serve as a retirement plan or account that will hold your assets and provide you with excellent tax advantages. In contrast, if you have a more forthcoming goal like, say, buying a house within the next 5-7 years, then you wouldn’t want to put your money in a 401(k) because of the payment penalties that accumulate when you sell your stock before retirement. A HYSA – or even a normal brokerage account – might be better choices.

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By aligning your financial goals with the right expertise will ensure the advice and services you receive are achieving the accomplishments you’ve set for yourself.

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Tip #2: Evaluate the Provider’s Technology and Tools

Modern investment resources offer a range of technological tools to aid in your journey. Look for those that provide robust trading platforms, AI-driven insights, and user-friendly mobile apps. These tools can enhance your ability to make informed decisions and manage your portfolio effectively, regardless of your experience level.

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By leveraging this technology, you are leveling the playing field in the market. Limited investment expertise can be combated with AI-driven insights that can analyze massive amounts of real-time data and trading patterns to help you make the right decisions for your financial goals. Not only that, but AI can also provide you with a deeper understanding of how the market works so you can cultivate a more robust knowledge base of the industry.

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Tip #3: Consider Accessibility and Support

Ensure the investment resource offers comprehensive support services, including educational resources, responsive customer service, and personalized financial advice that is easy for you to understand. This ensures you have the necessary support to navigate the complexities of investing, making the process more attainable and less daunting.

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A resource that provides a wealth of knowledge and information will set you up for great success. By accessing articles, webinars, tutorials, and other market-based advising opportunities, you can begin to develop a more comprehensive grasp on the market and how to properly maneuver it.

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At Prospero.ai, we are hoping to be your jack-of-all-trades! By providing you access to AI-driven technology that gives you real insight to make informed investment decisions, we hope to help you maneuver the market effectively and successfully. Sharing your financial goals, our app will provide you strategies that align with your desires. Additionally, we seek to be a tool you can use at any point in your investment journey; whether that be for educational purposes or to accessibility to the market. Whatever your needs, we will be your modern broker!

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