Time waits for no investments, and in the fast-paced world of wealth management, it’s important to keep in control of your assets at all times – no matter where you are. That’s where investment on-the-go comes in to play.
In yesteryear, it could’ve proved difficult to manage your investments around the clock, but with smartphone technology and high-speed data connections, it’s possible to keep your finger on the pulse at all times.
If, like many investors, you hold many accounts to monitor, like a taxable brokerage account, a mutual fund or two, or an IRA and current 401(k) plan, then it can be difficult keeping track of your assets across various platforms.
Luckily there are plenty of apps out there that can make all of your various ‘portfolios’ accessible at the click of a button – or less if you have Face ID enabled. Here’s a look at five of the best mobile applications out there when it comes to managing your investments.
Most comparison websites will likely list Personal Capital Finance as their favourite investment app – and for good reason.
With over two million registered users, Personal Capital is currently tracking over $10 billion in assets worldwide.
While the premium version of Personal Capital Finance enables users to take full control in the management of their assets, the free edition of the app contains some undoubtedly impressive features.
Free tools such as 401(k) fee analysers, investment checkups and retirement calculators mean that the Personal Capital Finance app will always have great practical uses and enables investors to try before they commit to making a purchase.
When it comes to wealth management, Personal Capital Finance promises to provide users with a ‘360-degree view’ of their money. With deeply intuitive and well-presented analytics tools, there’s grounding to this claim.
Using the app, it’s possible to get a detailed view of your total net worth whilst gaining insights into how the metrics that support the figures are formulated. It’s also possible to organise your spending and savings automatically by date, category or merchant.
Important data like cash flow forecasts, as well as both education and retirement calculators are listed with rich colour and plenty of easy-to-follow guidance, meaning you’ll never be left in the lurch by your finances again.
Personal Capital Finance has to be regarded as a strong contender for the best-in-class app on this list. However, there’s a caveat. To get started with this app’s wealth management services, users are required to hold over $100,000 in savings – making Personal Capital Finance’s offerings somewhat exclusive.
If you’re a serious investor looking for a comprehensive overview of your investments along with rich industry insight, Morningstar may well have the ideal app for you.
One of Morningstar’s most useful features is known as ‘Portfolio X-Ray.’ This provides users with an analytical breakdown of the individual stocks held within a fund. For example, if your fund is comprised of, say, 100 stocks, Portfolio X-Ray would be able to show you what those stocks are, as well as the dollar amount that represents each fund position.
This feature makes for an extremely powerful tool that’s scarcely available elsewhere on the market. If you happen to hold several funds, it’ll be important for you to know if there are any duplicate stock holdings within.
Morningstar also boasts a range of support services. Here, you can get access to The Morningstar Guide to Mutual Fund Investing, or The Fund Investor Online.
When you’re a subscriber to Morningstar you also get various support services. For example, you can get The Morningstar Guide to Mutual Fund Investing, or The Fund Investor Online. Morningstar has a wealth of services that are accessible to subscribers and the level of insight on offer is arguably the best among similarly priced apps.
Speaking of pricing, Morningstar is a free download for Apple and Android devices, but subscriptions to their services are available for $199.99 annually, or $29.99 per month.
ARQ stands as an extremely neat, stylish, and easy-to-follow app that succeeds in simplifying a range of complex metrics pertaining to your investments.
The app itself stands as an excellent all-in-one tool that combines your investments, bank accounts, properties and collections into a clear list of assets that can be seamlessly interchanged and monitored in a matter of clicks.
The jewel in the crown of ARQ, however, is the app’s ability to deliver personally curated investment ideas based on the individual user’s investment patterns and decision making. ARQ’s ‘Investment Ideas’ feature presents a compilation of carefully thought-out recommendations that are not only ranked but display a ‘target return’ that anticipates the level of returns on your investment.
The ARQ app is available as a free download on various app stores worldwide, but to access their full array of services and features, users will need to pay an annual subscription fee.
Yahoo! Finance is an extremely neat app. Its simple design is appealing and informative as well as clutter-free. Users can easily track their stocks, commodities, bonds and various currencies on the app and also have access to personalised news and alerts that are relevant to their assets.
This app is highly customisable, and users have the ability to adjust watch lists and get live quotes as their portfolio fluctuates.
Of course, on great appeal of Yahoo! Finance is that users can feel safe in the knowledge that they’re utilising the services of one of the largest business news sites in the world. Naturally, Yahoo! will be among the very first organisations to receive and publish relevant news across the industry – and subscribers to Yahoo! Finance will benefit greatly from this. There are few industries faster paced than the world of finance – so it really does pay to keep your finger on the pulse in this way.
The Yahoo! Finance app is available as a free download across app stores worldwide, but subscription prices start at a relatively high $34.99 per month or $349.99 annually.
SigFig Wealth Management is arguably the best free option for tracking your portfolio out there. The app automatically pulls your investment accounts emanating from over 80 brokerages from the US into a straightforward dashboard view that enables real-time insights into every stock, fund, ETF and option that you own.
This app also shares invaluable snapshots of your 410(k) plan and IRAs, as well as providing a weekly email summary letter regarding account performance and news that directly impacts on your portfolio. SigFig also alerts users to any notably high gains or losses from your assets.
Arguably SigFig’s most useful tool can be found in how the app analyses your portfolio to find any hidden fees or warn of possible overexposure within a given stock or industry. Premium services allow users to optimise their returns with an automated investing program. Within this service, SigFig will endeavour to optimise your portfolio through daily monitoring in order to keep it on track with rebalancing, dividend reinvestment and tax-efficient strategies.
For users wishing to access SigFig’s premium services, the good news is that users can invest up to $10,000 free of charge – figures beyond $10k will incur a fee of 0.25% thereafter.