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 also worlds apart from what your online broker can offer. Read on and discover which software might be best for you.
Quick Look: The Best Portfolio Management Softwares
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.
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 third-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.
Our Picks for the Best Software
We researched and reviewed several of the best portfolio management software options on the market.
Best Overall: 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.
Investment Account Manager
Investment Account Manager is a Windows and Mac desktop-based investment software program that provides comprehensive investment tracking and portfolio management tools.
Investment Account Manager offers a comprehensive portfolio platform for stocks, ETFs, options, bonds, mutual funds, cash and more. You can also find in-depth tax planning tools and asset allocation rebalancing features.
They offer tech support and easy-to-understand snapshots of asset allocation, so you can see whether your asset allocation is appropriate. You’ll also get reporting, easy data entry and downloading. You can also download brokerage account activity and track multiple purchases of stock and calculate your return on investment.
Investment Account Manager’s tech support is excellent, and when you need to be able to handle complex transactions, you’ll find that you’ll get a quick response from Investment Account Manager’s tech support in no time. In short, no detail escapes notice from Investment Account Manager’s offerings.
You can try Investment Account Manager’s 90-day free demo and get several portfolio management features and try out its tools to help mediate risk and improve returns. You’ll also have access to demo portfolios, tutorials and support from the customer service team.
After that, Investment Account Management costs $89 and it’s $129 to include a QuoteMedia data feed.
As a company, Quicken is pretty much a household name. Quicken 2019 offers financial management services that include spend tracking, budgeting and the monitoring of account balances. The software uses bill-pay services on its software and mobile app, bill pay alerts and customized financial reports.
Quicken’s fully-customizable, optional web-based platform also digs deep into investment tracking, access to digital creditors and can even get as specific as small business invoice customization.
You can sync up your checking, savings and investment accounts as well as any debt you may have. You’ll find in-depth reporting on capital gains, rate of return, performance, investment transactions, tax reports and more.
You’ll get a great retirement planning tool followed up by a risk analysis for all of your investments.
The only repeated complaint from clients is a slow syncing problem between the platform and accounts. The platform is a subscription-only model and charges between $34.99 and $99 per year for its Quicken for Windows package.
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:
- 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 graphing and reports, or 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 portfolio management software is for individual investors as well as 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 first year is $99.99 and if you hang onto it for a second and subsequent years, it’s $49.99 per year.
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 six different brokers. If 2019 is the year you vowed to get organized, start now with your finances and choose among Benzinga’s top four best 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.