Financial advice accessible for a new generation
New share market app makes professional financial advice accessible to a new generation of investors
A new share market advice app called Stockfox has recently launched in New Zealand. Stockfox delivers professionally researched analysis and recommendations to users on their mobile, desktop or tablet device to help them invest successfully in the share market.
The web-based app was created to reduce the confusion and anxiety people often feel when trying to decide what shares to buy and when to sell. It stands apart from other shares apps by providing professional advice - our analysts hold a Financial Advice Provider licence - as opposed to brokerage services that leave investors on their own to decide what shares they should buy.
“While other platforms make it really easy to buy and sell shares, they don’t resolve the critical decision of what to buy. We do,” says Stockfox’s founder, David McEwen. “And in doing so, we ease people’s anxiety, reduce their confusion and help mitigate the risks,” he adds.
Stockfox’s other major point of difference is it provides recommendations about when to sell the shares previously recommended for purchase. Most other advice providers issue buy recommendations only as part of a long-term buy and hold strategy. With Stockfox, we guide users on when to take profits or stop losses resulting from market movements, typically after a few weeks or months. Stockfox does not provide advice about day-trading.
The wave of new investors
Stockfox’s entry into the market comes at an opportune time, as the number of people investing in shares online has exploded in recent months, yet most are selecting shares without research and analysis from credible sources.
A survey recently conducted by the Financial Markets Authority (FMA) found most Kiwi investors rely on information from online forums (48%), news (47%) and people they know (36%) to make their investment decisions, as opposed to professional sources such as brokerage firms (19%), financial advisors (6%) and investment experts (3%).
“The reliance of this new generation of investors on advice from questionable sources like social media groups, relatives and internet memes puts their money at quite some risk. And given the practice is so widespread, poses a pretty major economic risk to society more broadly,” McEwen warns.
Stockfox addresses this by making professional share market advice and analysis - typically usually only available to those at the top end of town - accessible to everyone. This represents a major disruption to the current high-fee based, exclusive nature of the institutional investment advice industry.
How Stockfox came about
The idea for Stockfox came about approximately two years ago when David and his team noticed they were issuing time-sensitive share market advice in an untimely way through a fortnightly email newsletter. They realised that by using a digital platform instead, they could issue the advice in real-time and to a much wider audience, including the new generation of tech savvy investors.
Stockfox is available now, via www.stockfox.app, for a monthly subscription fee of $24.95 NZD.
How Stockfox works
Stockfox issues tips for the New Zealand, Australian and major United States (NYSE and NASDAQ) share markets. Users receive them in the form of notifications on their mobile, desktop or tablet device. Tips are generated by David McEwen and his team of analysts based on the proven stock assessment criteria he has developed and refined over the past 25 years. Users pay a monthly subscription fee or receive the tips for free if they open and fund an Interactive Brokers brokerage account through Stockfox. https://www.stockfox.app/
David McEwen is a leading share market analyst and commentator with more than 30 years of experience researching the markets. He heads McEwen and Associates, founded in 1998, as well as Stockfox. McEwen was one of the first in the country to receive a full Financial Advice Provider licence, in May 2021, under the new Financial Markets Authority regulatory regime.
Before becoming a share market analyst, McEwen was a business journalist at several leading publications, including The Financial Times, Reuters and the National Business Review.
Stockfox combines his backgrounds in journalism and share market analysis to make professional investment advice available to users in a clear, compelling, and engaging way.