Top 8 Best Portfolio Management Apps

When it comes to keeping tabs on your investments, the best portfolio management apps act like a personal organizer.

They help you see your total wealth, track your gains and losses, and understand how your investments are spread out. These apps can even show you an overview of all your accounts, making your financial life simpler.

There are various kinds of portfolio management software out there. Some are all about managing and tracking your investments, while others cover budgeting, saving, debt, and spending, in addition to investment management and analysis.

The cost can range from nothing at all to over $100 per year. So, no matter if you work with a financial advisor or handle things on your own, there’s likely portfolio management software that suits your needs.

☞ Read More: 7 Controversial Investing Theories (Simplified)

1️⃣ Quicken Premier

Quicken, established in 1982, stands as one of the pioneers in portfolio management software. Over the years, it has evolved to accommodate a wide range of assets. Users can link their brokerage, banking, or debt accounts to the platform, importing data seamlessly, or they can manually input data.

Whether you’re a beginner just getting started with managing your investments or an advanced investor tracking various assets like options, stocks, bonds, or company stocks, Quicken has you covered.

One standout feature is the manual input option, which allows you to track almost any asset. Quicken’s arsenal of reports delves into every aspect of your financial life, including savings, spending, debt, investments, physical real estate, commodities, and more. Additionally, it offers robust retirement planning tools and reports.

Sample investment analysis and reports include:

• Capital gains
• Investing activity
• Investment asset allocation
• Investment income
• Investment performance
• Maturity dates for bonds and CDs
• Portfolio value and cost basis
• Internal rate of return
• Net worth

Quicken not only provides comprehensive investment tracking but also serves as a budgeting, saving, and spending tracker. The software allows users to customize reports and download them to spreadsheets for further analysis. Importantly, there’s no limit on historical data.

☞ Read More: How to Create a Budget as a Couple (in 7 Easy Steps)

Uploading information is a breeze, from bank account transactions and balances to investment asset values and transactions. Quicken offers various programs, each with different subscription prices.

2️⃣ Sharesight

Founded by an Australian father and son, Sharesight was created to provide a more efficient way to track investments. It’s suitable for both domestic and global investors and has the capability to upload data from 200 brokerage accounts.

Sharesight offers a manual upload feature that allows you to add various types of investments you own, except for short sale transactions. While the initial setup allows tracking of current and future holdings, historical transactions must be manually uploaded.

Sharesight automatically updates and records dividend payments, share splits, and other relevant corporate actions. The initial upload process involves logging into a brokerage account, creating a transaction report, downloading it, and then uploading the report to Sharesight.

☞ Read More: How to Value a Business (6 Simple Methods)

To keep future transactions updated, you or your broker can email transactions to Sharesight or use “Sharesight Connect,” a broker-Sharesight integration. It’s worth noting that the upload process is somewhat clunky and more complex compared to platforms like Quicken and Empower.

The tracking reports offered by Sharesight include:

• Multi-currency valuation
• Multi-period portfolio comparisons
• Expected future income from dividends and interest payments
• Portfolio diversity analysis across investment sectors, asset classes, countries, and markets
• Asset allocation

Sharesight offers different pricing levels, starting from free for a small portfolio to $31 per month for 10 portfolios, full reporting, and priority support. There’s also a professional level designed for investment advisors.

3️⃣ Empower Personal Dashboard

Empower, formerly known as Personal Capital, offers powerful free investment management software and tracking tools. They also provide a paid investment management and financial planning service.

Account registration is straightforward, allowing you to link investment brokerage, banking, and liability accounts, such as credit cards. You can even include your residence for an updated valuation through an online real estate portal. Once connected, the dashboard offers a comprehensive view of your investments, spending, saving, debt, and net worth.

Their reports and tools cover various aspects:

• Net worth and account balances
• Budgeting
• Cash flow analysis
• Income reports
• Spending reports
• Investment returns
• Asset allocation views
• Retirement planner and fee analyzer
• Investment checkup

The Retirement Planner allows for different scenarios, like windfall income or major expenses such as college tuition. The Recession Simulator lets you visualize the impact of a poor economy on your finances, while the Investment Checkup provides insights into your asset allocation and suggestions for improvements.

☞ Read More: Easy Early Retirement Math: How to Retire Sooner

However, it’s important to note that this platform doesn’t offer the same level of customization and data downloading as Quicken. Additionally, if your portfolio exceeds $100,000, expect a call from an Empower representative. They’ll provide a portfolio review and information about their investment management service.

4️⃣ Mint

Mint primarily functions as a money management and budgeting app. Owned by Intuit, the same company behind Quicken, Mint’s investment management software is relatively straightforward, making it most suitable for individuals with uncomplicated investment portfolios.

You can register for free and connect most of your spending, saving, banking, investing, and lending accounts, providing you with a comprehensive view of your financial situation. If your financial institution isn’t listed, you can manually input the information.

Mint excels in banking and debt tracking, offering features such as goal setting, budgeting, bill tracking, and expenditure monitoring. Specifically, it assists users in budgeting, monitoring expenses, and tracking credit scores and bills.

Investment-related features include:

• Net worth tracking
• Portfolio comparison with market benchmarks
• Overview of aggregate asset allocation

Mint tends to promote and integrate opportunities to sign up for other digital or self-directed investment management platforms. If your focus is on spending, saving, and debt management, Mint serves these purposes well. However, it may be too basic for those seeking comprehensive portfolio management software.

5️⃣ SIGFIG

SigFig offers fee-free investment portfolio management, similar to Empower. This service is part of its robo-advisory investment management platform. Signing up is open to anyone, and you can link your financial accounts, manually add assets, and leverage SigFig’s investment analysis tools.

To tailor your ideal portfolio, you answer questions about your financial goals and risk tolerance. This data guides the analysis of your existing investments.

The portfolio analysis report recommends a specific portfolio, ranging from conservative to aggressive, based on your initial quiz responses. The report covers various portfolio analysis aspects, including volatility, asset allocation, expense ratios, geographic diversification, cash drag, single stock concentration, and the recommended portfolio.

Users also receive a projected long-term value of the SigFig-proposed portfolio. The Holdings screen provides performance metrics, fundamentals, gains, losses, and other vital investment information.

However, customization options in the reports are limited. SigFig doesn’t include tools for spending, saving, debt management, or budgeting. Considering it’s a free service, SigFig is a useful tool for a quick overview of your portfolio and recommended asset allocation.

6️⃣ Kubera

Founded in 2019, Kubera offers a comprehensive asset tracking solution. While it doesn’t focus on goal planning or budgeting, it excels at aggregating your various assets. Beyond the usual stocks, bonds, and funds, Kubera allows you to track cryptocurrency wallets, cars, and even website domain names.

The platform presents a clean dashboard that displays your net worth, asset types, their values, and cash allocation. It provides an Asset Allocation chart that breaks down asset types and offers a sector analysis of financial assets. The Deep Insights chart tracks asset growth, while the net worth tool projects your financial future, considering events like college costs.

Kubera’s charts include metrics like Internal Rate of Return (IRR), asset prices and cost basis, best-performing assets, asset allocation, and a net worth tracker. While it doesn’t offer in-depth investment analysis, it serves as a holistic wealth management and tracking system.

For detailed portfolio analysis, tax information, or performance comparisons with market benchmarks, you may need to complement Kubera with other portfolio management software. Nonetheless, it does include valuable features like a beneficiary manager, ensuring the safe transfer of your assets, financial information, and important legal documents to a designated beneficiary.

7️⃣ Morningstar Investor

Morningstar Investor, founded in 2022, is an extension of the original Morningstar Portfolio Manager product. It’s renowned for its “Morningstar X-Ray” feature, offering extensive reports, analyses, and asset screening capabilities that go above and beyond what most other platforms provide.

Whether you link your accounts or manually input your portfolio, Morningstar Investor allows for in-depth investment analysis.

What sets Morningstar Investor apart is its exceptional view and reporting customization options, some of the most comprehensive in the industry. The holdings screen alone offers over 20 customization choices, covering everything from cost and market value to asset percentages and Morningstar ratings.

Additionally, it provides detailed stock data reports, including industry, sector, fundamentals, financials, and profitability ratios.

The Morningstar X-Ray tool is the highlight, offering top-tier portfolio analysis. The platform’s reports and recommendations rival those of financial advisors.

Key reporting capabilities encompass asset allocation, stock sector analysis, fee and expense breakdowns, stock ratios and statistics, style diversification, stock types, global holdings breakdowns, and stock intersections.

However, Morningstar Investor leans more towards investment analysis than goal planning, budgeting, net worth tracking, or cash flow management. If you’re a basic investor in need of robust saving, spending, and budgeting tools, you might find alternatives like Mint more suitable. Morningstar also provides screeners for stocks and funds.

8️⃣ Fidelity Full View

The Fidelity Full View financial management program, developed by eMoney Advisor, LLC, a Fidelity Company, is a comprehensive personal finance organization tool. This program securely stores your linked financial account data and seamlessly integrates it to provide a comprehensive analysis of all your financial accounts within a single system.

It supports various types of accounts, including those from banks, investments, credit cards, loans, mortgages, and insurance. Once you’ve linked your financial accounts, the program automatically updates the information on a daily basis.

The Fidelity Full View Dashboard offers a holistic view of your financial landscape, including net worth, investments, retirement analysis, spending, and protection (insurance). The investment section conveniently syncs and displays asset allocation, transaction details, and a summary of your investments.

Key investment reports available include:

1. Holdings detail
2. Net worth history

Fidelity Full View works exceptionally well when used alongside other Fidelity services, especially the retirement planner.

This tool seamlessly connects your Fidelity and linked non-Fidelity accounts with retirement planning tools, generating a personalized plan based on your responses to a questionnaire. You’ll receive a tailored investment strategy and plan as part of this integrated service.

Fidelity Full View shares similarities with Mint, a user-friendly financial planning tool that excels in budgeting but offers limited in-depth investment portfolio analysis.

➤ Best Portfolio Management Apps FAQ

What’s a Portfolio Management App?

Portfolio management app refers to computer programs that help you organize, update, and generate reports for your financial investment portfolios. These portfolios often contain a variety of assets, such as stocks, bonds, exchange-traded funds (ETFs), and mutual funds.

Think of portfolio management software as a digital filing cabinet for your investments. These programs allow users to view their accounts and assets, as well as create various reports to gain insights into investment growth, cash flow, and more.

How Do I Choose a Portfolio Management App?

Selecting the right portfolio management software begins with assessing your specific needs. Consider the types of assets you want to track. Advanced investors may require software capable of handling options, futures, and other complex asset classes, while most investors will find satisfaction with software that manages basic assets like stocks, bonds, funds, real estate, and debt.

Ensure that the chosen portfolio management software can be easily linked to your online accounts and updated seamlessly. Investigate the available reporting features and verify that the retirement planning tools align with your preferences. Once you’ve clarified your requirements, review the available platforms and choose the one that best suits your financial situation and investment goals.

What’s the Best Portfolio Management App?

The best portfolio management software is the one that aligns with your specific preferences and requirements. It should be capable of tracking and analyzing your assets while providing the most relevant reports for your financial circumstances.

If you have a diverse range of investments spread across multiple accounts, look for a comprehensive and sophisticated platform. If your focus is primarily on retirement planning, consider software with robust retirement planning tools.

There isn’t a universally best portfolio management software program; the right choice depends on your budget and financial reporting needs.

Can I Trade Stocks With a Portfolio Management App?

No, portfolio management software and stock trading are two distinct services. Portfolio management software is not designed for stock trading. Stock trading is best conducted through an investment brokerage firm such as Fidelity, E*TRADE, or Schwab, or via trading apps like Robinhood or Webull.

While many investment brokers offer basic insights into your existing portfolio, including details like cost basis, capital gains, dividends, and asset allocation, they typically do not integrate all your external accounts into their information.

Portfolio management software, on the other hand, is specifically designed to complement your investment brokerage accounts, consolidating financial tracking, generating reports, and providing insights into your investments.

➤ Final thoughts

Without a clear understanding of your net worth, asset holdings, and their current values, achieving your financial goals can be a daunting task. Top-notch portfolio management software empowers you with the tools to take control of your financial well-being.

While none of us can predict the future, having a solid grasp of your assets, their locations, and their performance relative to your investment is an excellent starting point.

Regardless of whether your financial situation is straightforward or complex, there’s a financial software platform designed to meet your needs. Individuals looking for assistance with budgeting, spending, and saving may find Mint to be the ideal choice.

Those who require comprehensive tracking and monitoring of a wide variety of assets might be drawn to Kubera. For those seeking in-depth investment analyses, options like Quicken or Morningstar Investor offer robust solutions.

Ultimately, portfolio management software serves as a valuable tool, akin to a scale, aiding you in setting and planning for your financial goals, ultimately paving the way for your desired lifestyle in the future.

⬇️ More from thoughts.money ⬇️

• The Science of Success: 17 Proven Steps to Achieve Any Goal
• 8 Proven Money Lessons From “The FALCON Method”
• A Must-Know Lesson From “The First Rule of Mastery”
• 5 Early Retirement Tips From “Playing with FIRE”
• 7 Life Lessons From “Die with Zero”

🔥 Daily Inspiration 🔥

〝There is no passion to be found playing small—in settling for a life that is less than the one you are capable of living.〞

― Nelson Mandela