Burned Investors Turned to Investment Software in 2009

A recent article ‘Burned Investors Watch Money Closely in ’09’ revealed how many investors turned to investment software in 2009 as “many became more hands-on with their money and open to alternatives that go beyond traditional stock plays”. Thanks to a host of powerful online tools, burned investors turned away from their traditional financial management professionals and instead relied on their own skills to build an ETF portfolio or index portfolio at a fraction of the cost one pays to own a mutual fund. Investment management has taken on a new face. “Having consumers armed with a do-it-yourself approach to their finances meant trying times for professional wealth managers, many of whom gained an undeserved black eye from the shenanigans of high-profile con men, such as Bernie Madoff.” If you’ve become disenchanted with your investment advisor or are looking to keep more of your money in your own pocket instead of paying it away in fees, you too might want to consider looking into ‘do-it-yourself’ investment software.