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07:20 19th October 2010
Developments in the IT industry have allowed financial apps on the iPhone and other smartphones to flourish but they won't replace the advice of traditional experts despite their benefits, according to Dan Grabham, deputy editor at technology website TechRadar.com.
"It is quite a new thing on phones; it's reaching out to a different market really, as people will traditionally have had programs like this on their PCs," he said.
"We're still mystified by tax and national insurance, and all these systems that people don't understand. So anything that can help to broaden our knowledge is good, but we still need those traditional experts to go to," he added.
The expert went on to say that people will still need to get advice. He said that even those who are self-employed still need a second opinion, and would not necessarily trust an app.
According to iPhone news blog 148Apps.biz, there are currently more than 267,000 apps available for download for the iPhone in the US.
Posted by Rachel Hughes
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