7 apps every financial analyst should have

Every financial analyst needs access to market news and reliable data. In 2015, this was easier than ever, thanks to more and more excellent mobile financial applications that provide business professionals with a wealth of virtual portfolios, calculators, and real-time streaming information. Not every application is free, and most applications are available for Android and Apple devices. Each application is designed to make analysts’ lives easier and make the big data movement within reach. Faster access to better information drives the development of financial markets, and these applications are an important asset for those trying to stay ahead.

The Financial Exams Prep App

App provider EduPristine boasts several apps for aspiring financial professionals on Android and Apple phones. The Financial Exams Prep App series offers a complete study guide for licensing exams and other credentials, including the Chartered Financial Analyst (CFA) and Financial Risk Management (FRM) tests.34

The Financial Exams Prep App format is straightforward and easy to navigate. The CFA portion is broken down into separate books and section quizzes, including topics such as economics, alternative investments, ethics, and financial reporting/analysis.5

The FRM section focuses more heavily on different financial products, valuation, and risk analyses. Though designed for early-career professionals who have yet to pass their exams, the material covered by the Financial Exams Prep App is still relevant for any analyst

Federal Reserve Economic Data App

FRED, the Federal Reserve Economic Data, is a must-have for any serious financial professional. It is difficult to describe the scope of FRED information, which includes nearly 41,000 different data series on international and domestic markets. With this free application, it can be used on Android and Apple devices,Users can track a wide range of macro and micro trends, view and download graphs and charts, and even create custom presentations on the fly.

The time series information on the FRED app itself can be recommended, but for financial analysts, the best feature may be customizable charts. Analysts have created numerous reports and performed numerous presentations, and the FRED application is a useful ally for these daily tasks.

FRED is compiled from more than three dozen international resources and stored in the database of the Federal Reserve Bank of St. Louis.The information can sometimes be a bit abstract or difficult to understand, so it is recommended that new users take the time to become familiar with the interface.

UValue Application

The uValue application is suitable for financial analysts or investors who spend time on business valuations. It is the brainchild of Aswath Damodaran of New York University Stern, who is widely regarded as the top figure in American valuation methods. uValue has six standard formulas, including weighted average cost of capital (WACC) and dividend growth model (DGM), as well as other key indicators such as leveraged/unlevered beta and exchange rate forecasts.

Novice analysts may struggle with uValue at first; the application assumes that you are very familiar with valuation practices and financial statements. There are no data resources on board, so this app is best used as a basic plug-and-play calculator. However, as any financial analyst can tell you, it never hurts to be able to put valuations together quickly. The app is free and highly educational in design, but there is a serious disadvantage for some users: uValue is only available on iPhone and iPad.

TheStreet App

TheStreet is a website that offers financial news and education along with an app for both the iPhone and Android. The app provides a majority of the information available on the website, including financial news, commentary, stock ideas, analysis, actionable ideas, technical analysis, and more.8

The app also has access to TheStreet’s own proprietary rating model, known as TheStreet Ratings. The app also aims to create a full multimedia experience, incorporating articles, videos, and stock market data.

Accenture Interactive

In May 2015, Global IT provider Accenture launched a bevy of new apps under its Accenture Digital division, now known as Accenture Interactive. The launch was part of the company’s renewed focus on analytics services, which specifically target decision-makers in the banking and insurance industries.

There are several different applications in the Accenture digital release, each of which could be worthwhile for the right analyst. Of particular note is the mobile app for wealth managers.7

There is nothing revolutionary about the Accenture platform, but it is very convenient to have multiple tools from one source.

Market Scanning App
One feature of the Market Scan app immediately stood out: its price tag. As of September 2015, the standard download cost of MarketScan is US$39.99, which is an expensive alternative to well-known applications such as Stock Guru or Stock TickerPicker.

Although MarketScan may not be the most effective application for technical traders, financial analysts can benefit a lot from the application’s characteristic portfolio analysis tools. There are thousands of possible combinations of sports in American exchanges. Most analysts do not need to know the trend of individual stocks, but there is enough information on commodity, index, and futures prices to make up for it. Much like the FRED application, MarketScan is great for creating graphs and charts to place in reports and presentations. There is no Android version yet.

Refinitiv Eikon App

This is a fantastic app for anyone with an iPhone, iPad, Android device, or Surface tablet. Users receive the latest information on market data, including live profit and loss metrics, and portfolio tracking is simple and easy.9

The app allows users to customize alerts on stocks, hedge funds, and more; has instant access to streaming prices; market reporting in conjunction with Reuters; web access, and a Google Chrome extension.

CNBC Business News And Financial App

There are many business news applications, but the CNBC version has always been the most commonly used and highly rated version. It basically applies to all devices and covers almost all topics. It is an excellent resource for financial novices or senior analysts.

This app doesn’t necessarily make the analyst’s job easier, but it provides a great way to master the news cycle. Users can stream videos, research data and create interactive charts.It is also one of the first applications to create a new format for smartwatch users. The interface redesign in version 4.1.2 fixes some navigation problems. The only disadvantage is the operating software requirements; iOS 8.0 or higher is required.