The post Best Portfolio Management Software by Luke Jacobi appeared first on Benzinga. Visit Benzinga to get more great content like this.
Quick Look: Best Portfolio Management Software
- Best for Managed Portfolios: Domain Money
- Best for Portfolio Options: Interactive Brokers
- Best for High Net Worth Individuals: Personal Capital
- Best for Portfolio Optimization: Ziggma
- Best for Charting an Analysis: Fund Manager
- Best for Versatile Trading Options: StockMarketEye
- Best for Professional Investors: Stock Rover
Got a handful of bank accounts, a college savings account for your 6-year-old, and 401(k)s from a few past jobs out there somewhere? How about if you’re an options trader but also want to track other investments you have? It can be tough to reign it all in, and that’s where the best portfolio management software comes in handy.
Portfolio management software can track your portfolio against the rest of the market and can help you stay on top of your finances by giving you a comprehensive overview of your full portfolio. Just think of it as a bird’s eye view.
Portfolio management software is different from trading software and is worlds apart from what your online broker can offer. Read on and discover which software might be best for you.
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Table of contents [Show]
Best Portfolio Management Software
We researched and reviewed several of the best portfolio management software options on the market.
Domain Money
As you hunt for a portfolio management system, you will discover that every platform has its own schtick. With Domain Money, you will uncover a range of crypto portfolios that are easy to use, offer quality returns and help you make wise decisions.
Domain Money offers the following portfolio styles:
- Domain Edge—The 100%, turnkey crypto portfolio that gives you instant exposure to this asset class.
- Domain Core—A 100% stock portfolio that focuses on companies working with the blockchain, mining and in other parts of the crypto space.
- Domain Balanced—Targeting innovative projects and stocks, with 50% on crypto and 50% on stocks.
- Domain Metaverse—A crypto and stock portfolio that offers unique exposure to the NFT space.
- Domain Access—A portfolio that features 80% stocks and 20% crypto.
These actively-managed portfolios offer you the mix of investments that you want, and Domain Money does the rest. The firm works behind the scenes to ensure that the portfolio you’ve chosen performs well. Plus, there are no lockups, minimums ranging from $100 to $500 and a 1% annual management fee. You can save money and pour your cash into crypto, but Domain Money will do the work.
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Domain Money exists to bring world-class investing. Clients get access to actively managed portfolios with an emphasis on high-growth opportunities in tech, crypto and the metaverse Domain Money is made up of a team of industry veterans with deep investing experience
that provides communication and insights about developments in emerging technologies and the broader economy. You can expect transparent fees, low minimums and no lock-ups or commitments.
- Investors looking for guidance
- $50 bonus when funding an account
- Ability to blend stock and crypto assets to help set you up for long-term growth
- Annual management fee of 1%
Interactive Brokers
Interactive Broker is a comprehensive investment platform that offers affordable prices and access to a wide range of assets. IBKR makes it easier to invest by giving you access to:
- Foreign markets
- Many different account types
- Low margin rates
- Enhanced data and analysis tools
When you trade with IBKR, you can buy into stocks, ETFs, mutual funds, forex, options and futures. You can also invest in bonds, spot gold and cryptocurrencies, helping you build a more diverse portfolio that is safer to manage long into the future.
Features of the platform include:
- PortfolioAnalyst tool. You can use this tool to review your portfolio, but you can also connect other accounts like your checking and savings to see a clear picture of your overall finances.
- Fund parser. This tool tells you which assets cost the most money because things like mutual funds charge fees, and those fees cut into your net worth.
- Portfolio Checkup. The Portfolio Checkup will compare your portfolio to various indices and industry benchmarks, determining if you are getting the performance you deserve.
- Global Analyst. GlobalAnalyst helps you find undervalued companies that could help bolster your portfolio.
- IMPACT App. IMPACT helps you find companies that share your core values, making investing safer and allowing you to spend your money with a clear conscience.
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securely through Interactive Broker’s website
Personal Capital
If you’re after a large financial snapshot, you can get that for free with Personal Capital. You’ll get a comprehensive real-time overview of your net worth, a spending analysis, retirement planners and portfolio performance — all free on Personal Capital’s dashboard.
The spending analysis gives you a comprehensive overview of you where and how you spend your money (restaurants, grocery stores, etc.).
The Retirement Planner can pinpoint exactly where you are relative to your retirement goals. Personal Capital can give you a portfolio performance which shows you how your assets are performing.
The Fee Analyzer shows you how much you’re spending on fees and where you can save thousands, particularly if you have mutual fund fees. You can even anticipate future expenses, such as planning for college, getting married or any other upcoming life event.
In terms of wealth management, Personal Capital offers robo-investment services as well as real human financial advisors. Its annual fee is 0.89% and you need a $100,000 minimum in your account to get a personalized investment strategy. It’ll help you take the guesswork out of your goals and plug any holes for any future “what-ifs” that can come your way.
If you want a transformative experience and a quick way to analyze and build your net worth, there’s seemingly no end to what Personal Capital can offer.
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Personal Capital is a digital financial advisory service that offers tools and services beyond the norm. The crux of Personal Capital’s power lies in the intersection of smart financial strategy and state-of-the-art financial technology.
Its high-powered investment management technology makes it an ideal virtual financial advisor and portfolio manager for high-net-worth individuals. But its financial tools and services can benefit anyone.
- High-net-worth individuals looking for a comprehensive digital financial manager
- Retirement planning
- Self-starters who can use the Personal Capital Financial Tools to track finances and set long-term financial goals
- Handle your portfolio, financial planning and spending accounts with cutting edge digital financial management technology
- Panoramic view of your finances on display 24/7 using precise analytics and a dashboard that displays all your accounts together
- Executive-level financial planning and investment management
- Relatively high minimum balance for investment management services
- Fully-comprehensive financial management, including a dedicated relationship with a financial planner
- Portfolio customization and estate, legacy and tax services only available at higher tiers that require $200,000 to $1 million minimum in investments
Ziggma
Link your investment accounts to benefit from Ziggma’s suite of portfolio monitoring and optimization tools. Create a Ziggma account for free, and its Portfolio Manager will automatically monitor your key parameters.
You can set the Smart Alerts within seconds to receive notifications for limits breached on portfolio risk, price, yield, PE ratio and more. With your personalized alerts in place, you’ll have more free time to focus on research or any other prep to keep your portfolio where you want it.
And Ziggma’s account aggregation means you can easily link your brokerage account to the Ziggma Portfolio Manager. Ziggma works with Plaid. Recently acquired by VISA, Plaid is a market leader in account aggregation working with virtually all U.S. banks. Plaid’s encryption technology means you can expect the best data security.
Link your investment portfolios to Ziggma today to benefit from its tools where it matters most.
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securely through Ziggma’s website
Fund Manager
Fund Manager portfolio management software runs on Windows 10, 8.x and 7. It’s compatible with both 32- and 64-bit versions of Windows. Fund Manager can track your stocks, mutual funds, options, bonds, cash and other investment types.
More specifically, you can track the following:
- Purchases
- Redemptions
- Distributions
- Transfers
- Advanced transactions (splits, re-combinations, mergers and spin-offs)
Fund Manager’s Personal version includes extensive portfolio management features for most individual investors. The Professional version is meant for active traders and adds advanced features such as trailing stop-loss alerts, technical analysis, real-time quotes and advanced statistics.
Fund Manager can access funds directly from your broker, import funds from other formats or you can enter them manually.
You’ll get 48 customizable graph types and 21 available report types.
Fund Manager prices include $99 for a new version and $39 for an upgrade. It’s $295 for a new Professional version. You can upgrade from Personal to Professional for $260 and $89 if you upgrade to an already-existing Professional software.
StockMarketEye
StockMarketEye portfolio management software is for individual investors and asset managers. The customer-centric company makes short work of grabbing your investments for analysis.
You can use a brokerage import to access your accounts directly from U.S. brokerages through QIF, OFX/QFX or CSV formatted files. You can also manually add your investments and enter any type of transaction from buys and sells to dividends, splits, cash deposits and more.
Data is stored locally on your computer and is available for Windows, Mac, Linux, iOS and Android. Though it’s stored on your computer, you can use it online to access portfolios, watchlists, charts, alerts and more.
The app isn’t as comprehensive, however, as it offers no charts, no ratios and limited views when you want to see your portfolios.
You can sum up current and past performance through a comprehensive set of reports and create watchlists to keep track of your investment ideas. Comparison charting can get you a view of more than one stock at the same time for a much savvier overview of performance over a particular time period.
You can try StockMarketEye for free for 30 days. After that, a paid subscription for your 1st year is $99.99. Subsequent years are $49.99 per year.
Stock Rover
Stock Rover makes portfolio management that much simpler by offering over 650 screening criteria, allowing you to tap into any segment of the market at any time. Free accounts are available, and you can dig into the platform by taking advantage of:
- Easy account linking to all your brokerage accounts
- Organized data
- Multiple screening options
- Information on more than 8000 stocks, 4000 ETFs and 40,000 mutual funds
- 90 additional metrics
- 10 years of detailed financial data
With robust customer support and a powerful learning center, you can try Stock Rover today, track your investments and make wise decisions.
You can even read through weekly market briefs and watch educational videos that give you more insight into how the market is performing and how you should respond. Set your own equations as you use the screener application, use the device on a mobile phone and even enjoy Stock Rover on a tablet as you work remotely.
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Stock Rover is a comprehensive stock analysis and screening tool that gives investors access to high-quality research tools, educational content, expert analysis and more. Stock Rover goes well beyond standard analysis tools, offering account holders 1 of the most comprehensive sets of screening criteria and research qualifications that we’ve seen. For example, users can filter investment opportunities using over 650 metrics with Premium Plus access.
Stock Rover offers 4 different plan tiers, which can become confusing for new investors who aren’t exactly sure which tools they’ll use. However, free accounts offer a wide range of functionality that gives users a better feel for Stock Rover’s setup, along with a free trial of Premium Plus functionality. Getting started with a Stock Rover account is also exceptionally easy — we were able to open our free account in under 60 seconds.
- Professional investors who need high-quality analysis and research tools
- Visual learners who benefit from seeing data laid out using charts and graphs
- Anyone searching for the widest array of screening metrics
- Incredibly comprehensive range of investment analysis tools
- Over 650 screening criteria included on Premium Plus plans
- Simple account opening and brokerage account linking
- Free accounts available
- Wide variety of plan options that can be more confusing for new investors
How Portfolio Management Software Works
Web-based financial planning software and portfolio trackers like Personal Capital are popular. You can connect your finances by linking your accounts to an online portfolio tracker. But online portfolio management can’t do quite as much as a software-based portfolio manager.
We’ve featured both options here so you can choose how in-depth you’d like to get with your portfolio.
The software offers much more powerful reporting, sophisticated technological elements and a spot-on ability to calculate gains and losses. In short, the software should offer a plethora of reporting tools and options, no matter the securities you own.
Most portfolio management software operates similarly. Typically, you’ll download and install the portfolio management software on your computer. Then, you’ll import or enter historical transactions or enter starting positions of all of your accounts.
Your portfolio management software should be able to connect to the internet and automatically obtain your data. You’ll be able to see detailed graphs, in-depth reports (which are usually customizable) and modify transaction data for all your investments.
What to Look for in the Best Portfolio Management Software
A few characteristics to look for as you choose the best portfolio management software include user-friendly features, a wide variety of reports and support for all of your funds.
User-Friendly Features
How well can the software handle your personal needs? Can you easily operate the software? These are a couple of questions that might be at the forefront of your mind.
You might not want to spend weeks configuring and learning the program, so get a taste beforehand of whether each program has a bit of a learning curve. Several programs offer demos so you can try them out for yourself before you buy.
Wide Variety of Features
The portfolio management software you choose should have a number of options available to you. It should offer thorough investment tracking, accounting, reporting, communication tools, analysis tools, customizable reports and more.
You should have access to tools that can help you understand your investments and even connect you to 3rd-party sources if you need to import specific market information. You may even want to manage your cash through a client portal where you can buy and sell. Ultimately, it’s important to make sure the features you want are there.
Ability to Support a Vast Array of Assets
The portfolio management software you choose should be able to help you manage stocks, bonds, mutual funds or exchange-traded funds (ETFs) but in addition to the basics, a vast number of other types of trading and investment vehicles should be supported.
Some software supports options trading, for example, so be sure that the portfolio management software you choose can support every type of trading you do.
Choose the Best Portfolio Management Software for You
You may have already decided that you need a portfolio management tool, particularly if you feel like your portfolio is scattered among 6 different brokers. Organize your finances now, and choose among Benzinga’s top portfolio management solutions.
Just be sure to do some testing ahead of time so you’re positive that the software you test and ultimately select is a great match for you.
After all, if you don’t like the way a particular software’s report generator showcases your portfolio, you could be stuck staring at the same grainy pie charts and graphs for years. Do yourself a favor ahead of time and check out the demo options built into many portfolio management software options.
The post Best Portfolio Management Software by Luke Jacobi appeared first on Benzinga. Visit Benzinga to get more great content like this.
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