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February 07, 2019

The Wealth Management Software Tools You Need

For investors in mutual funds, it’s likely that you’d want to keep a track of returns on investments, asset allocation, commission, and likewise. While an excel sheet may be a go-to method of analyzing the stocks, your tasks become much easier with a few wealth management software tools that’ll keep your worries at bay. 



You can filter out the best portfolio management software that suits your selection of price and attributes. If you are confused, take a look at Commerce Trust Company to help you sort out what you will need in your specific situation.

The 6 Wealth Management Tools you will Love

The following are 6 wealth management software tools, starting off with free offerings to those that require an ongoing fee.

1. Personal Capital

Personal Capital is available to you free of cost. The wonderful part is that it operates both on mobile and desktops and has tons of features. No sooner do you set up this software than your mobile and desktop accounts are synced and your personalized dashboard is readily available to you. The personal capital software tool assimilates your bank accounts, credit cards, and investment accounts and floats an overall picture of your investments’ performances.

This software offers numerous benefits apart from those mentioned above. As an investor, you need to keep a check on your cash streams. Personal capital helps you do that, along with keeping a check on your investments and estimating your net worth.

A significant question for any investment strategy is whether a particular portfolio is capable for reaping greater returns for a reasonable risk level. The Personal capital portfolio software has an answer to this. It compares the current asset allocation with the prescribed target and provides recommendations for improvement.

It has an inbuilt retirement planner calculator that briefs you on the best and worst case retirement frameworks.

While you are required to interact with a Personal Capital representative consistently, this tool tops the list of suggestions so far.

2. Mint

This portfolio and money management web-based software tool provides you free of cost services. Much like Personal Capital, Mint links all your accounts together and lets you in to an overall financial picture of your investments. This financial tool features your fees to give you an idea of the money that’s being kept aside apart from what goes into your investments.

As a convenient tool for novice investors, Mint offers variety of financial services, like keeping a track of your income and expenses, helping you with setting a budget, tracking your investment moves, providing you with a free credit score, sending alerts and timely payments of your bills.

This online tool also extends its advice to both active and passive investors. Mint is too simplistic a tool for intermediate and advanced investor. However, for beginners, it’s worth a setup.

3. WiseBanyan

WiseBanyan provides its basic services free of cost, while its add-on services are paid. It’s an ideal wealth management tool for beginner investors who expect to start investing and tracking their progress simultaneously. The mission of this app is to encourage clients to kick-start their investment process as soon as possible.

While it’s advisable to keep a diversified portfolio designed to match with the risk attributes, WiseBanyan helps you do just that. All the features ranging from portfolio balancing to dividend reinvestment are fully automated. The services available on this tool’s menu card include dividend reinvestment, portfolio rebalancing, and trades and investment management.

4. Quicken Premier 2018

This tool comes with a subscription model to its desktop application, while also providing for an online app. Similar to Personal Capital, this software syncs all your accounts to offer you a comprehensive financial plan.

Quicken Premier software tools include the following services:

  • Customized money and investment management reports
  • Risk and return analysis
  • Retirement planner tools
  • Option trade tracking

However, there are recurring problems with downloading data on this tool.

5. SigFig

This free portfolio tracker is also a robo-advisor. It might be a less sophisticated than Personal Capital. However, the services it provides are worth a try.

SigFig offers the following services:

  • Syncing of investment accounts
  • Portfolio tracking
  • Live chat and phone support
  • External portfolio analysis

This investment management tool requires investors to put in a minimum of $2000. Moreover, it provides free services to accounts valued less than $10,000. For accounts valued at more than $10,000, SigFig covers additional services.

6. FutureAdvisor

Its basic services are free of cost and quite similar to the services provided by the tools mentioned above. However, its robo-advisor is a paid service and offers services like tax-loss harvesting, access to licensed financial advisors, portfolio dashboard, and more.

Which of these wealth management software tools are you looking forward to? Have you tried out any of these tools already? Let us know below.



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