“Saving and investing app” may refer to a variety of different mobile applications that use technology to help you save and invest. These apps are often marketed as an easy way to get started saving and investing.  Users may be able to set goals and actions that help them save and invest—for example, rounding up purchases to the nearest dollar and automatically saving the change.

Saving and investing apps commonly provide users with one or more of these services and products:

  • A place to save money
  • Advice on investing
  • Buying and selling securities

Apps that provide advice on investing may be “robo-advisers” that rely, at least in part, on automated digital technology.  Robo-advisers are a type of investment adviser that typically registers with the SEC. Apps that help you buy and sell securities are brokers that also typically register with the SEC.

You can research the background and registration status of advisers and brokers, including those saving and investing apps, with a free search tool available on Investor.gov.

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