UAE introduces a groundbreaking app for wealth management
A financial advisory company headquartered in Abu Dhabi has introduced a novel application aimed at centralizing a user's entire financial situation and assets onto a single smartphone platform.
Hoxton Capital Management, overseeing assets totaling $1.2 billion, endeavours to offer individuals worldwide complimentary, instant access to their entire net worth through mobile devices, irrespective of their whereabouts.
The introduction of the Hoxton Wealth app marks a significant achievement as it pioneers the provision of complimentary, instantaneous access to global assets via a unified platform. Notably, access to the app is not exclusive to Hoxton clients. Alan Turner, Marketing Director at Hoxton Capital Management, underscored the challenges encountered by professionals relocating overseas and highlighted the heightened complexity of financial and administrative matters associated with international living.
For individuals contemplating retirement abroad, the uncertainty of the retirement destination adds further complexity to financial planning. Turner stressed the importance of early retirement planning for those in such circumstances.
Users can access and consolidate their assets from a variety of sources, such as bank accounts, brokerage accounts, pensions, and cash accounts globally, by utilising the Hoxton Wealth app, which makes use of open banking protocols. Additionally, users can input the value of static property assets and view real-time performance data on stocks, shares, and cryptocurrency investments.
Additionally, the app facilitates the inclusion of financial liabilities such as credit cards and mortgages, offering users a comprehensive overview of their financial standing within a single interface. Available in both web and mobile formats, the app allows users to customise their base currency preference while incorporating multiple currency accounts. Users can monitor their account balances and transaction histories, which are categorised by transaction type.
With access to over 26,000 financial institutions, the app employs stringent security measures tailored to each institution's standards, ensuring data privacy and protection.
Furthermore, the app features an innovative 'Wealth Flow' tool that projects retirement cash flow requirements based on user-inputted assets and retirement criteria, including age and desired post-retirement income.
Moreover, the Hoxton Wealth app offers a comprehensive and user-friendly solution for individuals to manage and monitor their financial assets and liabilities seamlessly, facilitating informed financial decision-making and long-term planning.
