Investing platform True Potential Investments (TPI) has launched the first app for the Apple Watch that allows investors to invest and save directly into a broad range of investments, including funds, from the device.
TPI runs a fund supermarket (tpinvestor.com) that allows clients to invest from an online account. Its investment service can be accessed 24/7 online and uses goal-setting to help savers identify exactly what they are putting their money towards.
To help people top up when they have some cash to spare, the service includes an innovative feature known as "impulseSave" launched in March 2014. It allows savers to top-up their investments from as little as £1 on the go, using smart phones and, now, the Apple Watch.
The technology, which TP says is the first of its kind in the UK, allows customers to use the "impulseSave" function via a button on the Apple Watch’s screen.
Users can also view their savings against their goals and use impulseSave to top-up their account to close any funding gap.
Daniel Harrison, managing partner at True Potential Investments, said: "True Potential has launched another first with this leading-edge technology that can change the way people save and invest. We wanted to be the first to add this kind of functionality to Apple Watch because we know that Apple has a knack of catching the zeitgeist and we pride ourselves on being first when it comes to personal finance technology."
To date, the firm says over £13 million of money has been invested through impulseSave, the majority of which comprises individual investments of £10 or less.
"With technology that people use every day, such as mobile phones and now smart watches, we can turn spenders into savers and get people in to the habit of investing," Harrison added. "Technology such as ours proves that investing can be fast, easy and even fun."
As well as being able to look at their portfolio and tap instant funds into their account, the True Potential Investor app on the Apple Watch also allows users to set goals and track them, link their account to their bank account and send secure messages to True Potential.
For more details, visit iTunes here.