7 Tech Facts You Probably Didn’t Know – But Definitely Should

Technology has found its way into almost every facet of life and your business is no different. What technology you choose directly affects your work, your clients, and your success. Here are 7 facts about technology you probably didn’t know – but definitely should.

1. It took Radio 38 years to reach 50 million users. It took TV only 13. But the World Wide Web took just 4 years to reach that number.

And Angry Birds? Well it took the cell phone game sensation an impressively short 35 days to reach 50 million users. The evidence is clear: technology adoption is occurring at a frighteningly rapidly increasing pace, especially for advisors. According to the 2014 RIA Benchmarking Study, “Success is being driven by steady organic growth alongside the application of greater levels of strategic business practices and operational discipline.” In other words, good advisors are getting better with the help of technology.

2. 86% of all adults consider themselves “Internet Users.” 71 % of those adults are on social media sites like Facebook, Twitter, and LinkedIn. 

How do you communicate with clients and prospects online?

3. Worldwide, hackers have stolen an estimated 1 trillion dollars in intellectual property costing U.S.-based companies 100 billion dollars a year in lost profits.

Some even estimate that damages from hacking cost the United States 500,000 jobs a year. Check out this blog post for tips on protecting your clients against identity theft.

4. You can trade stocks for free… from your phone.

A new app, cleverly called RobinHood, allows users to trade any stock they like with zero commission. The app has just become available for wide release, but isn’t yet profitable. Nevertheless, users and investors alike see a lot of opportunity in this new technology. How will it affect your business?

5. There are an estimated 8.7 billion devices connected to the internet.

This number was tallied back in 2011, so it is undoubtedly larger by now, but the message remains the same: people have numerous ways to access the internet, and successful businesses cater to as many platforms as they can.

6. The average millennial has spent 5,000 hours playing video games, exchanged 250,000 e-mails and text messages, and spent 10,000 hours on a mobile phone.

 And yet somehow we haven’t gone blind, we still know how to talk to real people, and we’re not all narcissists. Imagine that. Maybe it’s time you start working for the newest generation of investors.

7. 68% of financial advisors say that software now has top priority in their technology budget.

Many advisors now view software investments as the best way to realize productivity benefits and are working to integrate technology into their business plan.