The Apple Watch Will Benefit Advisors…But Should You Buy One?

If you’re even semi-connected to the world of technology—and if you’re reading this blog, then there’s a very good chance that you are—you’ve heard about the brand new product from Apple: the Apple Watch. It’s one of the most talked about and overhyped product launches ever. There hasn’t been a product that has caused this much crossover buzz in the tech and pop culture spheres since the iPhone.

While the watch has a lot of features that are at least interesting enough to make the tech-savvy among us pay attention, I’m here to point out the features that will matter to you the most; that is, features that could help make your life a little easier as a financial advisor.

Vibrating Notifications for Email and Text Messages

Odds are you use your phone for email and texting at least as much as you use it for making phone calls (if not more often). And it’s likely that there are times when you’d like to stay in the loop about who’s trying to reach you, but don’t want to be rude by pulling your phone out mid-conversation to check your messages. The Apple Watch seeks to address this problem through its integration with other Apple products. Once you’ve linked the Apple Watch to your iPhone, the watch will vibrate when you receive a new email or text message, and you’ll be able to see the name of the sender (and read the message in full) without having to take out the latest in a long line of increasingly giant-screened smartphones.

Quick Calendar Display

In addition to being an all-in-one messaging tool, your phone is perfect for managing your calendar and all the appointments on it. But as I mentioned previously, taking your phone out of your pocket can be clumsy and, at times, rude. To help you avoid this problem Apple Watch allows quick access to your calendar, letting you stay on top of your appointments without having to take your phone out of your pocket, purse, or briefcase.

You’ll even be able to see your next scheduled appointment right from the watch’s lock screen, underneath the clock.

Real-Time Stock Info, Right on Your Wrist

As with other Apple devices, real-time information on your favorite stocks comes as a built-in feature on the Apple Watch—accessible without (you guessed it) having to take your phone out of your pocket.

Support for third-party apps that will make your life easier.

Apps aren’t just for phones and tablets anymore. Apple has announced that there are already over a thousand apps currently being developed for their new device, with countless more on the way. My personal favorite out of those that have been announced so far is an app built by Developing Perspective, LLC called Feed Wrangler.

My unabashed love of RSS feeds is no secret to long-time readers of the eMoney blog. With Feed Wrangler on the Apple Watch (available now as an iPhone and iPad app), RSS feeds will be more accessible than ever. You’ll be able to set up news feeds dedicated to the financial services industry, world news, or any other topic and have instant wrist-top access to automatically updated headlines.

The Verdict

Even after digging into all these great features, the question still remains: is the Apple Watch a must-buy for financial advisors? To me, the answer is no, for now. But could advisors benefit by using one? Absolutely.

The Apple Watch is a fascinating device with a lot of potential to change the mobile technology game in the same way the iPhone did upon its release eight years ago. My only major problem with the device is its price point at launch. The least amount of money you could spend on one of the watches right now is $349, and that’s the model with a flimsy, rubberized band and smallest available face size. The most expensive model would set you back—please sit down if you aren’t sitting already—a whopping FIFTEEN THOUSAND DOLLARS; Rolex pricing with none of the heirloom potential.

I can’t really recommend buying this product until the price point drops. However, if you’re an Apple enthusiast or a serial early adopter and want an intriguing, cutting-edge, and convenient piece of hardware to pair with your iPhone, the Apple Watch will provide you with several features that will make your life much easier as an advisor.