Wikinvest today launches its mobile initiative with its iPhone app, now live in the Apple store. As brokerages and the finance industry in general are usually late to the mobile and Internet game, the Wikinvest app is one of the first that allows iPhone users mobile access to their personal portfolios as well as the latest investment news.
From Wikinvest CEO Michael Sha:
“We’ve amassed an incredibly rich set of portfolio data that, when complemented with our unique user generated content, will provide a much better way to manage your investments than what’s found today on traditional finance portals like Yahoo Finance.”
Wikinvest pulls in user-generated stock info as well as aggregate information from a user’s brokerage and investment accounts. Aside from portfolio specific content, the app will provide market data, quotes, charts, news, and currency info, including that of international exchanges and over 60 brokerages.
Wikinvest has done well in its web incarnation, tracking over $3 billion dollars in assets. And the launch of an iPhone app is the next step in the company’s growth, which is moving away from the user-generated wiki aspect.
According to Sha, “Our portfolio tracker has been so incredibly successful that much of our product roadmap is focused on building technology to help people track their portfolios and make better investment decisions.”
You can download the app here.
Wikinvest is just as it sounds; a wiki for investing. The company seeks to take advantage of the large numbers of investors and investing savvy people who are looking to the web to get better trading tips. Like most wikis, Wikinvest will face a few problems including spammed/tampered entries, lack of incentive to create content and the dubious authority of users generating content. These problems exist for Wikipedia as well, yet Wikipedia continues to have as...