Many financial advisors are too young to remember the days when sounds of stock ticker machines filled the office and chalkboards with price listings lined the walls. But long before today’s LinkedIn and Bloomberg apps, there were dataphones and squawk boxes.
Technology within the financial services industry has always tried to bridge the intersection between timely and relevant, says Chris Meyers, senior educator at New York’s Museum of American Finance. “Before the [transatlantic] cable was laid, it would take about one month to get information between the United States and England,” Meyers says, but future innovations such as the stock ticker machine improved the speed in which relevant information could be transmitted.
“Before this particular machine was invented there used to actually be young boys who would stand on the roofs up here doing signaling to people across the river,” he added.
Test your memory and explore 10 innovations that changed the face of the financial services industry.