Your portfolio likely includes several different financial assets, including stocks, mutual funds, ETFs and more. In addition to choosing a variety of investment strategies, you may use different brokerage firms to manage your accounts.
That’s why it can be helpful to find the right investment tracking app to monitor and manage your assets. The right app will give you an overview of your finances, help you manage cash flow, and see what your total net worth is.
This article will review the best investment tracking apps and give you some tips on choosing the one that’s best for you.
In This Article
Top 4 Investment Tracking Apps
The type of investment tracking app you end up choosing will depend on your preferences and investment style. If you’re looking for some ideas on how to get started, here are four apps you can consider:
1. Personal Capital Finance
Personal Capital is currently one of the most popular financial apps on the market, and for a good reason. The company was founded in 2009 to provide financial tools and wealth management services. It currently manages over $13 billion in assets and has investment clients across the U.S.
Personal Capital provides both free and paid services to its customers. If you’re just looking to track your finances, you can use its free financial tracking tool.
This feature lets you follow your spending and monitor all your accounts in one place. Plus, you can use the Retirement Planner to make sure your retirement savings are on track.
But Personal Finance also offers a paid financial advisory service, which involves a combination of robo advisors and licensed advisors. You must have a minimum of $100,000 in investable assets to qualify for the company’s wealth management program.
Here is an overview of the main features you’ll get with Personal Capital:
- Portfolio analysis: This tool will show you a complete breakdown of your portfolio by asset class. This feature gives you a quick overview of your investments, regardless of where you hold these assets.
- Portfolio updates: You’ll receive weekly email updates about your investment portfolio.
- Fee analyzer: Personal Capital provides a fee analyzer, so you can see how your retirement account fees affect your retirement date. This is also a good way to uncover any hidden fees.
- Cash flow: When you log into your Personal Capital dashboard, you’ll see an overview of your monthly income and expenses. This summary will give you a greater insight into your spending and monthly cash flow.
- Track your net worth: With Personal Capital, you’ll get a comprehensive picture of your total net worth. The dashboard will show you your assets, liabilities and how you fit in with the average for your age and income level.
- Budgeting: The Personal Capital budgeting section lets you create a monthly budget, track your spending and analyze your spending by category.
Pros of using Personal Capital:
- The app is easy to set up and use
- The company offers a variety of free tools, with no hidden fees
- Comprehensive investment management tools
- The app uses two-factor authentication, so you know your information is secure
Cons of using Personal Capital:
- There is a $100,000 account minimum to use the wealth management tools
- The wealth management tools come with hefty fees
Personal Capital will primarily appeal to two very different types of investors. One a DIY investor who wants to use the company’s free portfolio management tools. The other is a high net worth investor who wants access to the company’s financial advisors.
Either way, the company’s free financial tools are second to none. And if you have the money to invest, the wealth management services could be a great option.
Overall: Best for portfolio analysis
2. SigFig Wealth Management
SigFig was founded in 2006 under the name Wikinvest. The company started as a simple, online portfolio manager. Then in 2012, the company rebranded itself as SigFig, an investment advisory service.
SigFig is a robo investor that works with third-party brokerage accounts to track and analyze your accounts. The company’s goal is to make high-quality investment advice accessible to everyone and empower people to make better financial decisions.
Essentially, SigFig operates as the middleman between you and your financial brokerage firm. The company will analyze your portfolio and help you diversify your assets and stay on top of any unnecessary fees.
The company does this through its free portfolio tracker. Once you’ve linked your accounts, SigFig shows you how your portfolio is performing.
And SigFig also offers free asset management for up to $10,000. After that, you’ll pay a fee of 0.25% per year.
Here are some of the main features the company offers:
- Portfolio tracker: SigFig offers free investment monitoring with its portfolio tracker. Once you sign up, you can automatically sync your accounts from over 80 different brokerages. This facet allows you to manage all your investments in one place.
- Tax-loss harvesting: SigFig manages tax-loss harvesting for you, which means buying and selling investments to manage your tax liability. There is no schedule for this; the company reviews your account and harvests any losses whenever necessary.
- Mobile app: SigFig provides a mobile app that will work on your Apple and Android devices. The mobile app is similar to the desktop version.
- Automatic dividend reinvestment: SigFig will automatically reinvest your dividends for you, so your account is fully invested at all times.
- Investment advice: And finally, you can schedule an appointment with an advisor and receive free financial advice. These advisors can help you identify areas where you’re overspending on fees and help you develop a financial plan in the future.
Pros of using SigFig:
- The company’s portfolio tracker is completely free
- If you’ve invested less than $10,000, you won’t pay any management fees
- The company’s management fees are competitive
- SigFig offers tax-loss harvesting and investment diversification
Cons of using SigFig:
- Compared to services to Personal Capital, SigFig offers limited investment platform options
- The company doesn’t always provide the best portfolio management advice
All in all, SigFig isn’t a bad option for anyone looking for a free tool for managing their portfolio. However, you may be able to find a more comprehensive solution from one of their competitors.
Overall: Best for low-cost investment advice
Mint is a free web-based personal finance software that lets you track your bank accounts, credit cards, loans and investment accounts. The software is often compared to Quicken, but there’s no software you need to install or mandatory software updates.
With Mint, you can create a budget, track your spending and set financial goals. With over 15 million customers, Mint is one of the most popular personal finance managers on the market.
You can get started with Mint for free, and after signing up, you can link to your various financial institutions. Every time you log in, Mint will automatically update your financial information. The interface makes it easy to track your spending and see where your money is going.
Here are the features Mint offers:
- Budgeting software: One of the most valuable tools Mint offers is its budgeting software. With Mint, you can categorize all of your transactions and track your spending.
- Set financial goals: If you have specific financial goals, like building up an emergency fund or saving for a big purchase, you can track your progress using Mint.
- Monitor your credit score: Mint allows you to track your credit score for free. This feature is a good way to monitor any changes, and it’s especially helpful if you’re trying to rebuild your credit.
- Track your bills: With Mint, you can keep track of upcoming bills and see how much cash you have available.
- Track financial trends: Once you’ve been using Mint for a few months, you can start seeing your financial trends. This will allow you to identify areas where you can make improvements.
- Monitor your investments: Mint will also track and monitor your investments for you. The software will give you a bird’s eye view of your balances and asset allocation.
Pros of using Mint:
- The company provides budgeting and goal setting features so that you can manage your money more efficiently.
- The software automatically syncs with your various financial accounts.
- You can track your credit score and monitor any changes.
Cons of using Mint:
- Mint offers limited investing features compared to some of its competitors.
- You can’t reconcile the information against your bank accounts.
- Mint no longer provides a bill pay feature.
Overall: Best for budgeting and final goal setting
Morningstar is an investment research firm that provides analyst ratings on mutual funds, stocks, bonds and ETFs. The company manages over $220 billion in assets and has been around since 1984. It is one of the best services available for long-term investors.
And if you sign up for Morningstar Premium, you can apply these insights to improve your investment performance. It’s a subscription-based service that gives investors detailed information about various investments.
The service costs $199 per year, though you can receive a discount if you sign up for multiple years.
Here are the features you’ll receive after signing up for the premium service:
- Analyst reports: The analyst reports provide an in-depth summary of what Morningstar analysts think about various investments. These reports will give you access to information you’re not going to receive anywhere else.
- Investment analysis: With this feature, you’ll receive an overview of the best investment opportunities from various Morningstar analysts.
- Portfolio manager: The portfolio manager allows you to track your investments and monitor your investing strategy.
- Fund screener: Morningstar offers a tool called a “Basic Fund Screener” that lets you search for different investments by category, rating and performance. It can help you find new funds that match your investment strategy.
- X-ray tool: With this feature, you can enter your mutual funds and then see your actual holdings. That means you can see the breakdown of each stock with your portfolio.
Pros of using Morningstar:
- Morningstar can help you identify new investment opportunities
- You’ll gain access to insights you won’t receive anywhere else
- The yearly fee is a lot less than what you would pay an investment advisor
Cons of using Morningstar:
- The tools in the free service are relatively limited
All in all, Morningstar is a great option for investors who want premium advice without having to pay premium fees. And you can try the service for free for 14 days.
Overall: Best for serious, long-term investors
Things to Consider First
It can be hard to know which investment app will be the best fit for you.
Here are a few things to consider before choosing an investment tracking app:
- Are you a novice or experienced investor?
The type of investor you are will play a huge role in the kind of app you end up using. SigFig and Mint are better for beginner investors, while Personal Capital and Morningstar cater to more serious investors.
- How functional is the software?
Does it require manual updates? Is it fairly intuitive to use, or is there a significant learning curve? Consider the functionality of the software, and whether you think it fits with your habits and lifestyle.
- What are the features you really need to be included?
For instance, if you only need a way to manage your budget, Mint will probably be your best bet. However, if you need investment advice, then you’re probably better off going with Personal Capital or Morningstar.
Before choosing an investment tracking app, take some time to consider what features you need to be included.
- Is there a monthly fee? And is it worth it to you?
If you’re a serious investor, paying an annual fee for a service like Morningstar may be worth it. But if not, you may be able to find a free service that will get the job done.
- Is there a minimum investment to get started?
Many financial services don’t require a minimum investment, but some do. For instance, you’ll need at least $100,000 in assets if you want to sign up for Personal Capital’s wealth management services.
- How much information do you need access to?
Most people are drawn to the software and service with the most features, but how many of those services are you actually going to use? Consider what you’re looking for in an investment tracking software, and how much information you really need to manage your finances.
The Bottom Line
Every investor needs a way to track their portfolio’s performance, and the right app can help you do just that. That’s because it can be difficult to keep everything organized when you’re managing multiple investment accounts.
With the right investment tracking app, you can log into one account and see a comprehensive overview of your investments. This will make it easier for you to manage your finances, set goals, and make decisions for the future.