7 Apps Every Financial Analyst Should Have

Every financial analyst needs access to market news and reliable data. This is easier than ever thanks to a growing number of outstanding mobile finance apps, which provide business professionals with a wealth of virtual portfolios, calculators, and real-time streaming information.

Not every app is free, and most are available for both Android and Apple devices. Each app is designed to make an analyst's life easier and bring the Big Data movement to their fingertips. Financial markets are fueled by getting better information faster, and these apps are a major asset for those trying to stay on top.

1. Federal Reserve Economic Data (FRED) App

FRED, or Federal Reserve Economic Data, is a must for any serious financial professional. It is difficult to describe the scope of FRED information, which includes over 820,000 different data series on international and domestic markets. With this free app, available on Android and Apple devices, a user can track broad macro and micro trends, review and download graphs and charts, and even create custom presentations on the fly.

The time-series information on the FRED app earns a recommendation on its own, but the best feature for financial analysts is probably the customizable charts. Analysts create a lot of reports and give plenty of presentations, and the FRED app is a useful ally for these routine tasks.

FRED is compiled from 114 sources and is housed in the St. Louis Fed's database. The information can be a little abstract or overwhelming at times, so it is recommended that a new user spend time getting used to the interface.

2. Becker's CPA Exam Review

The Becker Professional Development Corporation has two apps for future accountants on Android and Apple phones. The CPA Exam Review App comes with lectures, review material, and quizzes, including topics like financial reporting, taxation, and information systems.

Becker also offers a studying game, called "Becker Accounting for Empires." It's a Sims-style mobile game, where players build their "empires" by answering CPA exam questions.

3. uValue App

The uValue App is meant for financial analysts or investors who spend time performing corporate valuations. It is the brainchild of two professors: NYU Stern's Aswath Damodaran, who is widely considered a top mind in valuation methods in the United States and Dartmouth's Anant Sundaram. uValue has four standard formulas, including the weighted average cost of capital (WACC), adjusted present value (APV), real options valuation (ROV), and dividend growth model (DGM). The app also features other crucial calculators and tools such as levered/unlevered beta and exchange-rate forecasts.

Novice analysts may struggle with uValue at first; the app assumes a strong familiarity with valuation practices and financial statements. There is not a data resource on board, so the app best functions as a fundamental plug-and-go calculator, however, as any financial analyst can tell you, it never hurts to be able to quickly throw a valuation together on the fly. The app is free and highly educational in its design, but there is a fairly serious drawback for some users: uValue is only available on iPhones and iPads.

4. Accenture Interactive

In May 2015, Global IT provider Accenture launched a bevy of new apps under its Accenture Digital division, now known as Accenture Song. The launch was part of the company's renewed focus on analytics services, which specifically target decision-makers in the banking and insurance industries.

There are several different applications in the Accenture digital release, each of which could be worthwhile for the right analyst. Of particular note is the mobile app for wealth managers.

There is nothing revolutionary about the Accenture platform, but it is very convenient to have multiple tools from one source.

5. TheStreet App

TheStreet is a website that offers financial news and education along with an app for both the iPhone and Android. The app provides a majority of the information available on the website, including financial news, commentary, stock ideas, analysis, actionable ideas, technical analysis, and more.

The app also has access to TheStreet's own proprietary rating model, known as TheStreet Ratings. The app also aims to create a full multimedia experience, incorporating articles, videos, and stock market data.

6. Refinitiv Eikon App

This is a fantastic app for anyone with an iOS or Android device. Users receive the latest information on market data, including live profit and loss metrics, and portfolio tracking is simple and easy.

The app allows users to customize alerts on stocks, hedge funds, and more; has instant access to streaming prices; market reporting in conjunction with Reuters; web access, and a Google Chrome extension.

7. CNBC Business News and Finance App

The CNBC app is available on basically every device and covers virtually every topic. It is an excellent resource for finance novices or high-level analysts. It provides all the news coverage available on CNBC.

This app does not necessarily make an analyst's job any easier, but it offers a great way to stay on top of the news cycle. Users can stream video, research data, and create interactive charts.

The Bottom Line

There are many apps for financial professionals on the go. From checking stock prices to reading the latest business news and studying for financial exams, these programs can help keep you connected from home, work, or even when you're away from a computer.