The age of AI is here, but it’s too early to know what impact it will have on investing. How might this powerful technology be leveraged for financial wellness and greater returns?
After a few queries, I stumbled upon Magnifi. It’s one of the first of what will *likely* be a new generation of investment apps that harnesses artificial intelligence for smarter investment decisions. Whether you’re just dipping your toe into investing for the first time or have decades of experience managing a portfolio, Magnifi’s AI-assisted experience is worth checking out. Its conversational chatbot combined with a commission-free brokerage offers a glimpse of how DIY investors plan and invest in the future.
In this review, I take a closer look at what Magnifi has to offer, share my personal experience, and evaluate whether AI is all hype or actually helps individuals invest more intelligently.
What makes Magnifi different?
Simply put: AI. CNBC referred to Magnifi as “ChatGPT meets Robinhood”, and for good reason. It’s one of the very first AI-powered investment tools designed for individuals. In plain English, you can ask Magnifi to help you plan for a financial goal, find investments aligned with said goal, and even get its help pulling the trigger on transactions – all directly from the chat.
And for anyone with pre-existing investments: simply ask Magnifi to keep you up to speed on macroeconomic news, imbalances, and real-time opportunities to take advantage of shifts in the market. You can integrate multiple brokerage accounts and ask Magnifi to analyze them to uncover opportunities and help manage them.
Even after just a couple months using the app, I’m still discovering new ways Magnifi’s AI can help me understand emerging opportunities and optimize my positions.