Investment Portfolio Tools: Your Ultimate Guide To Choosing Wisely

Portfolio management software is a tool that helps investors stay on top of their investments. It allows users to view their accounts and assets, check their net worth, and view the overall diversification of their assets. Some platforms offer additional features such as budgeting, saving, debt management, and spending. The price points for these tools range from free to more than $100 per year. Some of the most popular portfolio management apps include Empower, SigFig Wealth Management, Sharesight, and Yahoo Finance.

Investment portfolio tools for beginners

Investment portfolio tools are a great way to stay on top of your investments and financial goals. Here are some options for beginners:

Simplifi by Quicken

Simplifi is a good option for beginners as it is easy to use and provides a holistic view of your financial situation. It offers basic portfolio management features, allowing you to link your financial accounts, including checking and savings accounts, credit cards, loans, and investment accounts. It provides guidance and suggestions for improvements and has a clean interface for tracking your investment growth. However, it requires a paid subscription, and some users have reported difficulties with signing up for an account and finding quick answers to their questions.

Quicken Classic Premier

Quicken is a well-known and established portfolio management software platform that has been around for decades. It is suitable for beginners just starting to manage an investment portfolio. It offers tracking for a wide range of assets, including stocks, bonds, mutual funds, options, ETFs, physical assets, and real estate. You can link your brokerage, banking, and debt accounts, or manually input data. Quicken provides highly customizable reports and excellent customer service. However, it requires a subscription, and some users may find it challenging to update accounts occasionally.

SigFig

SigFig is a free platform that offers investment portfolio management as part of its robo-advisory services. It is suitable for beginners as it provides a simple way to analyse your portfolio and make improvements. You can link your financial accounts or manually add assets, and the platform will provide recommendations based on your financial goals and risk tolerance. However, the reports are not highly customizable, and it does not offer budgeting or goal planning features.

Empower

Empower offers a free suite of investment management software and tracking tools. It provides a 360-degree view of your investments, spending, saving, debt, and net worth. It includes valuable features such as a retirement planner, fee analyzer, and asset allocation modelling. Empower also offers a free portfolio review by a financial professional for accounts over $100,000. However, be prepared to receive a call from an Empower representative if your portfolio exceeds this amount. Additionally, the reports are not highly customizable, and the budgeting tools are limited.

Portfolio Visualizer

Portfolio Visualizer is a powerful portfolio analysis and reporting tool that brings sophisticated analytical techniques to individual investors. It offers portfolio backtesting, optimisation, and Monte-Carlo simulation to help you understand the impact of risk on your investments.

Investment portfolio tools for advanced investors

Investment portfolio tools are a great way to monitor your investments and keep track of your financial goals. Here are some of the best tools for advanced investors:

Empower

Empower is a free investment management app that offers a comprehensive suite of tools for investors, including investment tracking, net worth calculations, fee analyzers, budgeters, and cash flow tools. It provides a 360-degree view of your investments, spending, saving, debt, and net worth.section:

One of Empower's standout features is its investment check-up tool, which compares your current asset allocation to the recommended target and suggests improvements. It also has a retirement planner that shows how much monthly spending your current portfolio will allow. Additionally, Empower seamlessly links your accounts, making it easy to get started. However, you may receive a phone call from an Empower representative as part of their customer service.

Ziggma

Ziggma is a subscription-based platform that offers a range of tools for investors, including stock research, portfolio simulations, and custom stock scores. It provides sophisticated metrics about your portfolio, such as the "Ziggma Score," Beta, ESG Score, Yield, Return on Assets, and Revenue Growth. Ziggma is ideal for investors who want to track their portfolios and utilise tools to build their portfolio. It offers a 7-day free trial.

Quicken Premier

Quicken Premier is a well-known investment management software that has been around for decades. It offers both basic money management tools and comprehensive investment portfolio management features. The software syncs with real-time stock quotes and includes the Morningstar ® X-Ray analysis tool. Quicken Premier provides multiple customisable reports, risk/return analysis, a retirement planner, and a portfolio X-Ray tool. However, it has switched to a subscription model, and you'll need to renew annually to access software updates.

Investment Account Manager

Investment Account Manager is a highly sophisticated investment accounting software designed by professional money managers. It allows you to track an unlimited number of portfolios and provides detailed security data, including projected dividends and earnings. The software is ideal for investors who want to focus solely on portfolio tracking and are willing to pay for it. It offers a generous 60-day free trial, after which the annual fee is $99.

Morningstar Investor

Morningstar Investor (formerly Portfolio Manager) is a freemium portfolio analysis tool that allows investors to import or manually enter their holdings. The free version includes investment tracking, a performance tab, and the Morningstar Portfolio X-Ray. The premium version offers additional features such as fund and stock screening, fundamental analysis ratios, and portfolio interpretation tools. The premium service costs $249 annually or $34.99 per month.

SigFig

SigFig is a robo-advisor with a free online portfolio tracker. It offers investment account sync, reporting dashboards, external portfolio analysis, and live chat/phone support. SigFig also provides robo-advisory investment management services with a 0.25% AUM fee. It is a good option for investors with existing Fidelity, Schwab, or TD Ameritrade accounts who want to avoid the tax implications of transferring their investments.

Investment portfolio tools for diversification

Investment portfolio tools are a great way to get an overview of your portfolio and stay on top of your investments. They are especially useful if you have multiple accounts, as they allow you to track all your assets in one place.

Portfolio Visualizer

Portfolio Visualizer is a powerful portfolio analysis and reporting tool that uses sophisticated analytical techniques to help you understand your portfolio better. It offers various analytics tools, such as portfolio backtesting, portfolio optimization, and Monte-Carlo simulation, to model the probability of different investment outcomes and improve risk-adjusted returns.

Morningstar Investor

Morningstar Investor is a well-known investment research and analytical tool. It offers extensive investment analysis reports with broad customization options. The Morningstar X-Ray tool provides in-depth portfolio analysis, including stock ratios and statistics, stock style diversification, and global holdings breakdown.

Quicken

Quicken is one of the oldest portfolio management software platforms, suitable for beginners and advanced investors. It offers highly customizable reports and can handle a wide range of assets, including stocks, mutual funds, options, bonds, ETFs, and real estate. It also provides retirement planning reports and tools, making it a comprehensive solution for investment tracking and management.

Sharesight

Sharesight is a portfolio management tool suitable for domestic and global investors. It can upload data from 200 brokerage accounts and supports various asset classes, including stocks, mutual funds, ETFs, bonds, cryptocurrencies, and real estate. Sharesight offers multi-currency valuation, portfolio diversity analysis, and expected future income reports.

SigFig

SigFig is a fee-free investment portfolio management platform. It provides specific recommendations to align your portfolio with your financial goals, time horizon, and risk tolerance. While it lacks extensive customization, it offers a quick overview of your portfolio and suggested asset allocation.

Kubera

Kubera is a comprehensive tracker for various asset types, including stocks, ETFs, mutual funds, cryptocurrencies, real estate, and alternative assets like cars and web domains. It provides a clean dashboard with net worth tracking, asset allocation charts, and growth insights.

Empower

Empower offers a free suite of investment management software and tracking tools. It provides a 360-degree view of your investments, spending, saving, debt, and net worth. Empower's retirement fee analyzer calculates your overall expense ratio and projects the impact of fees on your portfolio returns.

These tools can help you monitor and optimize your portfolio, ensuring that it is well-diversified and aligned with your financial goals and risk tolerance.

Investment portfolio tools for risk management

Investment portfolio management tools are a necessity for investors to streamline their portfolio management activities, including tracking investments, building reports, and interacting with portfolio owners. These tools can be broadly categorized into four types: active, passive, discretionary, and non-discretionary portfolio management.

Morningstar Investor

Morningstar Investor is one of the most well-known investment portfolio management tools. It offers a comprehensive suite of features, including in-depth investment analysis, stock data reporting, and portfolio tracking. The platform is particularly useful for stock, fund, and bond investors. Morningstar's X-Ray tool provides detailed insights into users' portfolios, making it a popular choice for those seeking a deep understanding of their investments.

Quicken

Quicken is one of the oldest portfolio management software platforms, offering a wide range of features for both beginner and advanced investors. It allows users to track various assets, such as stocks, bonds, options, mutual funds, and real estate. Additionally, Quicken provides highly customizable reports, making it easy for investors to analyze their investment performance and make informed decisions.

Sharesight

Sharesight is a global investment portfolio management tool that supports investors with domestic and international holdings. It offers multi-currency valuation and portfolio comparisons, making it easy for investors to track their portfolios' performance across different markets. Sharesight also provides expected future income projections based on dividends and interest payments.

Empower

Empower is a popular choice for investors seeking a free investment management app. It offers a comprehensive suite of tools, including a retirement planner, fee analyzer, and investment checkup. Empower provides a 360-degree view of users' investments, spending, saving, debt, and net worth. The platform also offers multiple tiers of service, catering to investors with different levels of assets and providing increasingly customized advice.

Kubera

Kubera is a comprehensive investment portfolio management tool that goes beyond traditional investment tracking. It allows users to track a wide range of assets, including stocks, ETFs, mutual funds, cryptocurrencies, real estate, and even website domain names. Kubera provides a clean dashboard that displays net worth, asset types, and values, making it easy for investors to monitor their portfolios.

EFront

EFront is a private equity solution that helps firms streamline operations, reduce risk, improve communication, and gain valuable insights. It is particularly useful for firms looking to manage direct and indirect investments while minimizing risk and improving efficiency.

@RISK

@RISK is an add-in for Microsoft Excel that enables users to analyze risk using Monte Carlo simulation. It helps investors understand the potential outcomes of their investment decisions and assess the level of risk they are comfortable taking.

CRISAM

CRISAM is a cloud-based risk management software that helps businesses identify and mitigate corporate risks while securing confidential data. It offers a dashboard for supervisors to generate customizable reports, configure workflows, and gain an overview of operational processes.

TOGGLE

TOGGLE is an AI-powered financial analytics tool that helps businesses monitor market data in real time and gain insights into investments and opportunities. It offers features such as data visualization, natural language processing, portfolio creation, and email alerts, making it a powerful tool for investment portfolio management and risk assessment.

These tools provide investors with the necessary insights and analysis to make informed decisions, manage risk, and optimize their investment portfolios.

Investment portfolio tools for retirement planning

Investment portfolio tools are useful for keeping track of your investments and financial goals. They can help you monitor your portfolio's performance and make adjustments to stay on track. Here are some popular investment portfolio tools for retirement planning:

Retirement Calculators and Simulators

Calculators and simulators are simple tools that can help you estimate how much money you will need for retirement and whether your current savings and investments are on track to meet those needs. Some popular options include:

• Charles Schwab Retirement Calculator: This free calculator helps you determine if you are saving enough for retirement by taking into account factors such as your current age, planned retirement age, income, and savings.
• Stash Retirement Calculator: This free calculator estimates how much money you can expect to have in retirement based on your age, income, savings, and retirement contributions.
• NewRetirement Calculator: This free calculator helps you estimate your retirement income, savings needs, and overall net worth. It also allows you to explore "what-if" scenarios to see how changes can impact your retirement plans.
• Vanguard's Retirement Nest Egg Calculator: This calculator, while no longer available, used a Monte Carlo analysis to determine the likelihood of your portfolio lasting through retirement.

Comprehensive Retirement Planning Software

These software options offer a more detailed approach to retirement planning, often including features such as net worth tracking, investment analysis, and goal setting. Some options include:

• WealthTrace Retirement Planning Software: This software provides a detailed view of your financial situation and retirement readiness. It allows you to link your accounts for automatic updates and run different scenarios to navigate financial challenges. The basic individual plan starts at $229 per year.
• The Complete Retirement Planner: This planner, priced at $89.99, helps you create a comprehensive financial plan for before and after retirement, taking into account factors such as inflation, healthcare costs, and Social Security income.
• Betterment: Betterment offers investment advice and retirement planning tools. For 0.25% per year or $4 per month, you can access their stocks and bonds investment advice and track your spending and net worth.

Investment Portfolio Management Apps

These apps are designed to help you manage your investment portfolio and often include features such as performance tracking, asset allocation, and retirement planning. Some popular options include:

• Empower: Empower offers a range of free investment management tools, including a retirement fee analyzer and a retirement planner. They also offer a paid investment management service and provide a free portfolio review for accounts over $100,000.
• Quicken: Quicken is a long-standing budgeting and financial planning platform that offers investment tracking features. Their Classic Premier service, priced at $4 per month, includes in-depth management tools, customizable views, and integration with Morningstar's Instant X-Ray tool.
• Ziggma: Ziggma is designed for active investors and offers a unique dashboard, alerts, and a portfolio simulator. The basic version is free for a single portfolio, while the premium version costs $9.90 per month or $89.88 per year.
• Simplifi by Quicken: This app is geared towards beginning investors, offering an easy-to-use interface for budgeting and personal finance. It provides a unified view of your investment portfolio and is available for a low fee.

Portfolio Analysis Tools

These tools provide in-depth analysis and insights into your investment portfolio:

• Portfolio Visualizer: This platform offers a suite of powerful analytical techniques, such as portfolio backtesting and Monte Carlo simulations, to help you understand your portfolio better and make informed decisions.
• Morningstar Investor: Morningstar is a well-known investment research platform that offers extensive investment analysis reports and tools, such as their Morningstar X-Ray tool.
• Fidelity Full View: This program by Fidelity provides a comprehensive view of your linked financial accounts, including investment, bank, credit card, loan, mortgage, and insurance accounts. It offers investment reports and access to Fidelity's retirement planning tools.

Frequently asked questions