8 Pro-Approved Portfolio Management Software For Investors
portfolio management software
Lee Huffman
6 min read
Whether you’re an individual investor or a portfolio manager, the right portfolio management software can make a huge difference. The best software provides valuable tools to help you better analyze your overall portfolio and each investment individually. It can screen potential investments, track what’s in your portfolio and simplify reporting. We’ve compiled a list of eight of the best portfolio management software tools available today. If you’re looking for more help in managing your portfolio, consider working with a financial advisor who can manage the whole process and help you reach your financial goals.
What Is Portfolio Management Software?
Portfolio management software tracks your investments, analyzes investments and performs other financial functions. They track your investment performance, values and cost basis, to name a few. It can be difficult to figure out how to allocate your assets and know that you’ve made the right decision. Instead, you can use these software tools to help you see how each investment is performing and to determine where changes might be needed.
There are many different types of options available that manage the whole process but you’ll also see some tools that offer a single function, such as showing the performance of your whole portfolio. Prices for the most popular applications range from free to hundreds of dollars per year. The cost depends on which company offers the software and which features you want.
Best Portfolio Management Software
portfolio management software
The best portfolio management software performs all of the necessary functions you might be looking for in a portfolio management tool and each does it at a reasonable price. Many investors prefer to use free software to save money. However, you may be better off paying a fee to unlock additional superior features or eliminate ads. While these are some of the most popular tools, the right one for you will depend on what your financial goals are and how much investment savvy you currently have.
1. Personal Capital
Personal Capital is a free investment and portfolio management software for individuals. Investors sync their banking and investment accounts with Personal Capital. This creates a dashboard of their entire portfolio, even if the accounts are at multiple financial services companies. The software analyzes your cash flow and tracks your investment performance. Furthermore, it also calculates your net worth and reviews your asset allocation.
2. Simplifi by Quicken
Simplifi is a money management tool that requires a $3.59 monthly fee (when billed annually). It keeps track of your bank accounts, loans and investments so you can monitor your spending, follow your budget and analyze your investments. This app connects to over 14,000 financial institutions, which makes importing your accounts quick and easy.
3. Quicken Premier
This all-in-one portfolio management software tracks your entire portfolio in one place. It also manages your bills and prepares your taxes with auto-generated reports. Customers can leverage robust analysis tools to review their investments and grow their portfolios. Tools include what-if analysis for loans and investments to pay off debt and plan for your financial future. This tool is available for $5.99 per month.
4. Mint by Intuit
Mint is the original personal financial management app and it is a good choice for beginner investors. There are no monthly fees, but it does have ads, which can be a nuisance. If you want to remove the ads and access advanced features, you’ll need to pay a $4.99 monthly fee. Customers can link their bank, loan and investment accounts to the app to receive an overview of their finances. Mint tracks your spending, portfolio performance and credit score so you can monitor progress towards your goals.
5. Morningstar Instant X-Ray
Morningstar is one of the most respected names in investment research. Its Instant X-Ray service provides an in-depth analysis of your portfolio. With this tool, you can drill down into your mutual funds to uncover the individual investments inside each fund and see a cross-fund asset allocation, sector weightings, geographic distribution and expense ratios.
This analysis uncovers potential overlaps within your portfolio that are hidden from view. Morningstar charges $34.95 per month or $249 per year for this advanced analysis tool. However, you can start a free 7-day trial if you want a glance at your portfolio or to determine if the tool is worth the money.
6. Ziggma
Ziggma is an all-in-one portfolio management solution that offers both a free and a paid version. The free version is suitable for most investors and includes features like portfolio analytics and tracking, a stock and ETF screener, the ability to sync your investment accounts and a portfolio dividend schedule. The paid version is available for $9.90 per month ($90 per year) and includes advanced features, like a top-50 stock list, portfolio simulations, smart alerts and model portfolios.
7. Kubera
This modern portfolio tracker caters to advanced investors who want more in-depth detail on their investments. In addition to tracking all of your traditional investments – stocks, bonds, mutual funds, ETFs, etc. – it also tracks the value of cryptocurrencies and NFTs.
You can also include the value of your home, vehicles, precious metals and websites. It supports over 20,000 global banks, brokerages, stocks and international currencies. Kubera provides an internal rate of return (IRR) on every investment and a recap of your performance to monitor how it has changed over time. Sign up for $150 annually, or start a 14-day trial for just $1.
8. StockRover
StockRover provides investment research and portfolio management for every budget. Investors have one free and three paid plans to choose from, based on what features they want to unlock. The free version offers portfolio management, integration with your brokerage accounts and a portfolio dashboard with detailed performance information. Paid versions range from $7.99 to $27.99 per month ($79.99 to $279.99 per year) and include increasing levels of sophistication.
The Bottom Line
portfolio management software
As an investor, it is important to use tools to track your progress towards your goals. The best portfolio management software options monitor your portfolio’s performance while incorporating your other assets to provide a complete picture of your finances. They also enable you to review your current assets and screen potential investments to make informed financial decisions. While many of these applications are free, you should consider paying for a service if it offers the advanced functionality and tracking that’s important to you.
Tips for Investment Management
Financial advisors might use portfolio management software to monitor your portfolio’s progress, but they have the expertise to help you make the right asset allocation decisions. If you dont’ have a financial advisor, finding one doesn’t have to be hard. SmartAsset’s free toolmatches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Setting financial goals and tracking your progress towards them is essential. Knowing if you’re ahead, behind or right on track allows you to make adjustments to your savings rate. Use our investment calculator to forecast how your portfolio can grow based on ongoing contributions, annual returns and investment timeframe.
