A new Google Glass app may soon allow users to have a permanent market ticker embedded in their field of vision. But advisors question whether having a constant stream of financial information would be good for all investors
“There have been studies on this and it is the folks who don’t constantly look at their statement or check their portfolio on-line who tend to do better financially because they don’t react to short-term noise,” said Daniel Popescu advisor and president of Harbourfront Wealth Management in Vancouver. “I believe it’s usually the people who are very emotional and want to see day-to-day increases who tend to fail, or at least not do as well.”
Fidelity Labs provided a preview of the Fidelity Market Monitor for Glass, which the company describes as "the first investing glassware." In a concept video, an investor wearing Google Glass uses voice commands to access a trading account, view market news and information – including a CNBC live feed – and obtain up-to-the-minute stock quotes.
While the video looks impressive, constant information may not be a good thing for retail clients who are too trigger happy with buy or sell orders.
Still, John Kason, an advisor with Global Securities in Prince George, BC, says that many investors may be too passive. The device could be useful if it at a minimum encourages people to pay closer attention to their finances.
“I tell people they should look at their investment holdings more often than their mobile bill, and most people probably do it the other way around,” said Kason. “If you look at your mobile bill more than you look at your financial statements that’s misplaced priority.”
Google Glass is a tiny computer packed into a lightweight frame that rests just above the eyes. With a network connection, the platform can be always on, allowing for a range of voice-enabled, hands-free online computing activities.
“We seek to deliver innovative services that may make our customers’ financial lives easier,” said Sean Belka, senior vice president and director of the Fidelity Center for Applied Technology. “We encourage investors to join with us and offer their insights and feedback on emerging technologies, such as the Fidelity Market Monitor for Glass, our first step in exploring the potential of wearable computing.”
The Google Glass computing platform is currently being tested in the US ahead of an eventual nationwide and global rollout.