7 Best Portfolio Management Software Tools for Investors – 2020

best portfolio management software

The Best Portfolio Management Software Makes Your Life Easier

Investors need the best portfolio trackers to monitor their mutual and exchange traded funds, individual stocks and bonds for many reasons. You want to examine your investment returns, fees, asset allocation, as well as plan for retirement and more. And you need the best personal investment software to do it right! Of course you can do it by hand or with an investment tracking spreadsheet, but with the excellent investment portfolio management software available, why bother? From free investment software, to a one-time payment or on-going fees, there has never been a better selection of investment management software on the market. Both price and features matter and we’ll explore both.

We’ll start out with the free portfolio trackers and wealth management software, next the investment and stock portfolio trackers that charge an ongoing fee.

The best portfolio tracker is one that meets your investing portfolio management and budget needs. We’ll cover investment tracking software, able to handle stock tracking, ETF and mutual fund trackers.

best portfolio management software tools

 

Free Portfolio Management Software

1. Personal Capital

Personal Capital may be the perfect free investment and portfolio management software. The platform, with mobile and computer access has a load of features. The easy set-up takes a few minutes to sync your accounts after which your personalized dashboard is available. The Personal Capital finance dashboard incorporates all of your bank, credit card and investment accounts and gives you a 360 degree view of how your investments are performing along with other useful money information.

The Personal Capital tools help you:

  • Analyze your cash flow including both income and expenses
  • Calculate your net worth – including updated home value
  • Check on and analyze your investments
  • Plan for retirement
  • Analyze your account fees
  • Perform an investment check up
  • Review your asset allocation
  • More

The investment check-up offers priceless tools. The overriding question that the investment check-up answers is “Could your portfolio give you greater returns for a reasonable risk level?” The program answers this question by comparing your current asset allocation to the recommended target, and recommending improvements.

The retirement planner calculator tells you best and worst case retirement scenarios. It shows how much monthly spending your current portfolio will allow throughout retirement.

This is my “go to” resource to check on and analyze my investment performance, and income versus spending. It’s extremely easy to use and it automatically updates, unlike Quicken, where I must manually update my portfolio.

One of the best aspects of Personal Capital is how fast and seamlessly your accounts are linked! You can be up and running in minutes!

I was amazed at how fast my complicated investment portfolio was uploaded and analyzed. I have more than 10 accounts with multiple investments within each account.

I just did a retirement analysis yesterday, and increased my annual spending projections. The new retirement analysis showed that I’m still fine at the new spending level. It was fast and easy. 

The only caveat with this tool is that you may need to field a call from a Personal Capital representative. Other than that, the tools are all free to use. I’ve used this investment software and appreciate how all of the accounts auto-populate so that I don’t need to input data. In fact, this free product just might be superior to Quicken portfolio management software (which I also use).

For more detailed information about the free Personal Capital portfolio management platform, read our expert review.

Sign Up for Personal Capital

2. Mint

The popular and free Mint.com investment and money management web-based software has a lot going for it. With quick linking to your accounts, similar to Personal Capital, you get a quick overview of your financial picture. Mint tracks all of your financial accounts including credit, banking, investment and retirement. Mint also highlights your fees, so that you know how much of your money isn’t being invested for your future.

Mint offers these financial tools:

  • Income and expense categorization and tracking
  • Budgeting
  • Investment tracking
  • Free Credit Score
  • Alerts
  • Bill pay

The Mint investment and portfolio management tools are satisfactory for beginning investors.

“Compare your portfolio to market benchmarks, and instantly see your asset allocation across all your investment accounts like 401(k), mutual funds, brokerage accounts, and even IRAs.” ~Mint free investment tracker

Mint claims to help “Get the right tools for your investment style.” The online portal offers tips and advice for both active and passive investors. Although, Personal Capital is a more sophisticated alternative than Mint for investment portfolio management.

In general, for intermediate and advanced investors, Mint is too simplistic. Yet, if you’re looking for a free basic money management, saving, spending, budgeting and tracking tool, it’s worth a look.

Investment Portfolio Management Software: Fee or Subscription

3. Quicken Premier 2019

Quicken’s been my go-to financial management software for decades and I continue to use both Quicken and Personal Capital to view and analyze our investment portfolios. Quicken recently launched an annual subscription model to the software to supplement the desktop application that you install on your computer. The program also has an online app and portal for on-the-go money management.

Similar to Personal Capital, after syncing your checking, saving, debt and investment accounts, you have a comprehensive financial management portal. The Quicken Premier platform is both basic money management, budgeting, debt tracking and cash management software as well as a comprehensive investment portfolio management program. The stock portfolio management software synchs with actual stock quotes as well as the Morningstar X Ray analysis tool. 

Quicken premier investment management features include:

  • Scores of money and investment management reports with deep level customization options
  • Investment account downloading and tracking including income, dividends, fees and more
  •  Reports include; capital gains, rate of return, performance versus the market, investment transactions,  cost basis, tax reports and more
  • Risk/return analysis
  • Retirement planner tool
  • The Portfolio X-Ray tool from Morningstar® with a detailed drill down into your overall diversification and portfolio characteristics
  • Option trade tracking

In addition to the investment capabilities there are robust income, expense, budgeting and money management capabilities. This all sounds great, but I’ve had problems downloading data from several of our investment and credit card accounts. I’m not certain if increased security from the banks and brokerages is to blame or the Quicken  program. The platform recently updated so I’m hopeful that they’ve addressed the downloading and synchronization issues. Quicken just offered a subscription model, in addition to their purchase option.

If you purchase the Quicken Deluxe through Amazon, you get a 14 month subscription for $54.99.

If you’re a small business owner, you might appreciate the Quicken Home and Business 2019 Personal Finance and Budgeting Software annual subscription. Like Quicken Deluxe, this download also offers an additional two months for a total of $104.99. 

4. Investment Account Manager

Investment Account Manager is sophisticated investment portfolio management software. The product was designed by professional money managers and used by investors globally since 1985. The goal of the software is to help you understand and manage your investment portfolios. The software for individuals is suitable for both newbies and seasoned investors. Actually, I used this software in one of it’s earlier iterations many years ago. (I reverted to Quicken due to Quicken’s ability to handle budgeting tasks along with investment management).

Investment Account Manager is designed for investment management, not budgeting, debt or other financial management tasks.

You can track an unlimited number of portfolios. Each investment portfolio is handled individually and transactions are segregated by account. This helps the investor to create portfolios by objective and track according to distinct parameters. 

The reports section allows you to customize reports and even create reports that combine portfolios. For example, Investment Account Manager allows you to combine all portfolios and review your overall asset allocation (stocks, bonds, cash and other) and on a granular level by stock sector and size.

The data helps you determine if you’re meeting your investment goals. This pdf details the 20 distinct reports available through the Investment Account Manager.

I spent way too long looking at the report data. From detailed cost basis data to customizable income reports the reports give the investor all the information she might need. 

As this software is for investment tracking only, you’ll find specific data for many types of assets including; cash, money market funds, US Government, agencies, and tax-exempt bonds, corporate bonds, preferred stocks, mutual funds, exchange traded funds, common stocks, options, and other investments.

Within the asset library, there’s detailed security data including:

  • Security Type
  • Security Symbol and description
  • Price
  • High price alert
  • Low price alert
  • Dividends
  • Earnings
  • Projected dividends and earnings
  • Book value
  • Cash flow 
  • Beta
  • Bond specific data
  • and More

You can download the data from your broker or input manually.

The rebalancing feature makes it easy to see if your portfolio is out of balance and what securities need to bought or sold to return to your preferred allocation. There’s even a sector weight allocation option.

Two more of my favorite features are benchmark comparisons and for individual stock owners –  fundamental ratio analysis tools.

Additionally, Investment Account Manager also offers a professional version of the software for financial advisors.

There is so much meat in this software, that the serious investor and possibly the casual investor as well will benefit from this Investment Account Manager. The investment management software is compatible with the Windows operating system, and users can run the software on a Mac with windows emulating software.

You also get a 90 day free trial, which is quite generous! After the trial, the reduced fee is $99 per year with the QuoteMedia data feed or $69 without. Or, if you’d prefer not to renew annually, you can continue to use the software indefinitely, without access to program updates, tech support or the QuoteMedia data feed. 

Best Portfolio Management Software Tools for Investors-Investment Management & Tracking from free to low-fee

5. Master Investor 6

From Owl Software, this Investment Portfolio Management and Analysis Software is designed for investors and professional portfolio managers. The company also offers Personal Portfolio Manager for individual investors.

Master Investor 6 enables investors and professional money managers to track and analyze investment portfolios comprised of stocks, bonds, funds, options, and other assets. We believe that this investment management software is the only retail product that includes technical analysis with portfolio management. 

The 37 available investment reports  can be customized to include any time span and combination of portfolios.

The noteworthy portfolio management features of Master Investor 6 include:

  • Investment transaction tracking
  • Automatic calculation of net worth, capital gains, unrealized gains, return on investment and asset allocation
  • Tracking of investment transactions with automatic computation of net worth, capital gains, unrealized gains, return on investment, asset allocation
  • Create up to 999 portfolio with accompanying reports including one or more portfolios. 

Investors who use technical analysis in their investment management will appreciate these features:

  • Charts for visual analysis of price movements
  • Technical indicators including moving averages, on-balance volume, stochastic oscillators, Wilder’s RSI, MACK relative strength, polynomial trend analysis and correlation analysis 

Other components of this portfolio management software include on-line quote updates, asset allocation reports.

Sophisticated investors will appreciate the IRS-compliant record keeping for complex trades. 

Finally, the software can analyze total returns of specific assets, to pinpoint your best and worst performing investments.

The software is available for Windows 95 through Windows 10. The fee for the Personal Portfolio Manager software is $69.00. Add on features include download protection for $10.95 and a backup CD for $13.95. There is a 30 day free trial

6. Morningstar Portfolio Manager

This freemium portfolio analyzer allows investors to import or manually enter their holdings and gain valuable insights. The free Morningstar portfolio x-ray is one of the best investment tools and shows stock style diversification, sector and style breakdowns, geographical distributing and a summary of fees and expenses. This feature is also available through a Quicken membership, and the securities are already imported.

The Morningstar Portfolio Manager is free, with limited tools, suitable for beginning investors. The free Morningstar Portfolio Manager includes:

  • Investment tracking of all stocks, bonds and cash. You can either mannually input or import the securities, number of shares, purchase date and commission.
  • To track your portfolio, click the “Tracking” tab. This tab shows price, percentage change, share information, market value, asset allocation percent and Morningstar fund rating. For the portfolio analysis report, you must sign up for the premium service. 
  • The “my performance” tab graphically shows how your portfolio performed and compares it with a designated index.  
  • The Morningstar X Ray uncovers how your investments in aggregate are positioned, including asset allocation, stock sector, stock type. More in depth analysis is available with the Premium subscription. 

The premium investing portfolio management includes scores of features including: fund and stock screening, fundamental analysis ratios, portfolio x ray interpretation wih style, financial ratio, and expense analysis. 

For more advanced investors, the premium subscription is well worth it. I’ve subscribed for years and use Morningstar not only for in depth portfolio analyzer but for fund and investment research. You can sign up for a free 14-day trial to the premium service. After that, the annual fee is $199 or $29.95 per month. 

Visit Morningstar and take a look around.

Investment Portfolio Management Software: Robo-Advisor with Ongoing Management Fees

These portfolio management software platforms fall under the robo-advisor umbrella as well. The following companies charge low ongoing management fees and don’t require you to transfer your assets to their firm. In addition to managing your assets, they also offer portfolio management features. 

7. SigFig Portfolio Tracker

SigFig is a robo-advisor with a free online portfolio tracker. Although less comprehensive than Personal Capital, it’s worth a try. The free portfolio tracker offers:

  • Investment account sync
  • Portfolio Tracker
  • Reporting Dashboards
  • External Portfolio Analysis-SigFig Guidance
  • Live Chat/Phone Support

Anyone can use the free SigFig investment manager. The tool offers mutual fund trackers and stock tracking software. 

If you want to try their robo-advisory investment manager, SigFig is a competitive service. Many low-fee robo-advisors require you to move all of your assets into the company account. SigFig offers portfolio management for investors with existing Fidelity, Schwab, or TD Ameritrade accounts. This is a convenient feature, especially if you have a larger portfolios and want to avoid the tax implications and complications of transferring your existing investments.

Our SigFig Review drills into this independent portfolio optimization platform that helps everyday investors track over $350 billion in assets. Through its partnerships with Fidelity, Schwab, and Ameritrade, the company’s algorithmic investment strategies work to analyze, monitor and improve any portfolio, automatically balancing and diversifying investments, while reducing risk and minimizing fees. SigFig’s Asset Management technology instantly analyzes your current investments, learns about your goals and risk tolerance, and tailors an individualized portfolio strategy. The automated systems constantly monitor and optimize your investments while reducing management fees.

SigFig’s investment portfolio management services require investors to invest a minimum of $2,000 and offers free service to all accounts valued less than $10,000. For investors with accounts valued at more than $10,000, the annual 0.25% fee of assets under management (AUM) covers these services:

  • Portfolio monitoring and analysis
  • Access to investment advisors
  • Commission-free portfolio management
  • Portfolio rebalancing
  • Tax reduction strategies

An investor with a $20,000 account will pay an annual 0.25% or $50.00 for the investment portfolio management fee. SigFig will tracks all of your investment accounts, regardless of where they are held. 

Bonus; Personal Capital vs. Mint vs. Quicken – Which One is Best?

Investment Tracking Software – Honorable Mentions 

The best portfolio tracker is the one that works for you. Personal investing software should handle a growing investment portfolio since setting up an investment tracker takes time, make your decision after thorough review. 

Some of you might need a complete portfolio analysis tool, others want online investment software, while for many a simple portfolio tracker app is just fine.

Following is a list of more investing portfolio management tools:

YahooFinance Portfolio Tracker – This free investment portfolio tracker allows you to import from a spreadsheet or manually input your portfolio. The portfolio analyzer offers a list of investments with details including fundamentals, performance, news, and risk analysis. 

Ticker app – Available for iOS and android devices, offers the opportunity to monitor multiple portfolio with colorful charts and graphs. The free stock tracking app shows positions, profits, losses, and news. Holdings must be manually input. 

PortfolioVisualizer.com – Although, this free investment software is not a stock portfolio tracker but a sophsiticated investment analysis tool. We use it regularly to analyze our investment portfolios. The online portfolio analysis tools include; backtesting, Monte Carlo simulation, tactical asset allocation and optimization and more. 

Sharesight.com – This free stock portfolio tracker is pervect for new investors with a few positions. Sharesight is a portfolio tracker with automatic holding updates, tax, and performance reporting. The first ten holdings are free. Sharesight, this investing portfolio management software also checks your dividends and stock splits, providing accurate performance data. 

The Best Portfolio Management Software Takeaway

Investment portfolio management software is useful to track returns, asset allocations and individual investment performance. From DIY spreadsheets to robo-advisors, there are many available options. Choosing an investment management system ultimately depends upon the features you’re seeking. Regardless of which option you choose, the free Personal Capital dashboard provides excellent investment insights and is quick to set up. It’s worth signing up for Personal Capital, whether you choose another option or not, because of the detailed investment tracking and it’s free.

In addition to these best investment portfolio management software, there are many additional low fee robo-advisors for your investment management needs. Check out our ever-growing Best Robo-Advisor Reviews section.

Disclosure: Please note that this article may contain affiliate links which means that – at zero cost to you – I might earn a commission if you sign up or buy through the affiliate link. That said, I never recommend anything I don’t believe is valuable.

27 thoughts on “7 Best Portfolio Management Software Tools for Investors – 2020”

    1. Barbara A. Friedberg, MBA, MS

      Yes! Personal Capital is my favorite because it will analyze and track your investment portfolio for free. The cost is that you’ll have to field a call from a Personal Capital rep. For a detailed look at the free personal capital tools check this article out: https://www.roboadvisorpros.com/personal-capital-review-why-you-must-sign-up-for-personal-capital/.

      Several other robo-advisors will also analyze your portfolio for free; SigFig (https://www.roboadvisorpros.com/sigfig-review-robo-advisor-low-fees/) and FutureAdvisor (https://www.roboadvisorpros.com/expert-futureadvisor-review-robo-advisor/).

      Let me know your opinion of the “stand alone” tools.

  1. Avatar

    If you create an account on Personal Capital, expect constant phone calls to your house phone, your smart phone, emails…in other words, prepare to be bombarded.

    If being hassled continually is your idea of free then by all means, sign up.

    1. Barbara A. Friedberg, MBA, MS

      Ryan, I use the free Personal Capital software and receive infrequent calls. In fact no more than a few times per year. And when I explain that I manage my own investments, they are quite courteous. I really appreciate the free software and think an occasional phone call from the company is a tiny price to pay for this free software. It’s actually more accurate than my Quicken software, which needs to be updated manually.

    2. Avatar

      I have used Personal Capital for many months, and I have NEVER received a phone call, and I only receive occasional usually with helpful tips.

  2. Avatar

    I just started a Personal Capital account to check them out. Lots of folks in the personal finance blogging space use them. It’s impressive software. One of the things I was curious about was to see how/if they pursued me. I never hear bloggers talk about that part. So far, I’ve just received emails, no calls. I agree with you, Barbara. Having this kind of software for free is worth a few contacts.

    I’ve been a Mint user for quite awhile. I wanted to see how Personal Capital stacked up on that side. I’m a financial advisor, so won’t use them for that piece. I do, however, want to recommend services like this for people who want to do it themselves. There’s room for everyone.

    1. Barbara A. Friedberg, MBA, MS

      Hi Fred,

      I love the free Personal Capital software. I have our entire family portfolio linked and the reports and features are wonderful. Although I’ve used Quicken for decades (and still do), I prefer the Personal Capital reports and interface as well as the platforms ability to automatically link all our accounts. (https://barbarafriedbergpersonalfinance.com/quicken-vs-personal-capital-review-money-management/)

      Yes, I receive regular calls from a Personal Capital financial advisor. Since I manage our own investments, I do not use their paid service. I don’t find the calls annoying, they’re a small price to pay for this amazing software!

  3. Avatar

    Hi,

    Which tool would be best to be able to:

    1. 401K – Analyze available securities
    2. Non-401K – Review a portfolio and make suggestions of securities that might be a better investment.

    Thank you

    1. Barbara A. Friedberg, MBA, MS

      Hi As,

      For your 401k, we recommend Blooom to analyze your 401(k) https://www.roboadvisorpros.com/blooom-robo-advisor-review-low-fee-retirement-account-manager/.
      For your security research. That is a difficult question, as individual security selection requires study and analysis. If you enjoy researching and studying individual securities, then you need to devote time to learn this process. If not, you’re best off investing in mutual funds and ETFs. To learn about researching individual securities I like this non-profit website http://www.betterinvesting.org/public/default.htm or any of the educational portals at the main brokerage firms such as Schwab or Fidelity.
      If you prefer to have your investments managed for you, I suggest a low-fee robo-advisor, https://www.roboadvisorpros.com/6-robo-advisors-lowest-fees-info-need-to-know/.

  4. Avatar

    Hi Barbara,

    I’m looking for an alternative to modeling MonteCarlo type simulations in EXCEL, making multi-year forecasts based on given inflation and S&P500 growth rates, with an option to compare non-IRA / traditional IRA/401K and RothIRA placement of NEW money, and possible conversion of existing money from traditional IRA/401K into non-IRA or RothIRA. The reason for the conversion modeling option is that it seems like “deferred” income practice has hoodwinked a lot of us into inadvertently higher tax rates when we do pay taxes, since earned income / retirement annuities and IRA/401K RMDs are all taxes at the earned-income-this-year rate (e.g. in CA 24% federal + 9% state = about 33% tax rate), versus tax rates of 15% for capital gains/qual div and 22% for ord div … which would be great if it applied to the growth portion of RMDs – but it doesn’t! RMDs from traditional IRA/401K are taxed as earned income, basically at about twice (33%) the average (17%) growth-money tax rate that would have applied if we’d just kept the $$ out of IRA/401K from the get go (the 17% is based on a typical cap gains / qual div / ord div ratio you see in balanced funds growth). If seems to be a really misleading strategy suggestion to direct people into traditional IRAs and 401Ks without any warning about the future tax rates gotcha. Recovery planning once one has discovered this gotcha is where the simulation modeling will help – modeling removal of the IRA/401K money and converting it fully or partially to Roth, for example, or keeping a portion for current expenses or just free of the Roth 5-year-holding rule, but growing in a non-IRA way to pay less taxes on the growth portion of all investments. You can probably get the gist by now and I just did not see any modeling software descriptions in your top-7 which seemed like they would help in this modeling any better than what one can do in EXCEL. Please let me know if I am wrong.

    Best regards,
    Steve C.

    1. Barbara A. Friedberg, MBA, MS

      Hi Steve, You raise a really good and often neglected point. The reality of future tax rates could be a major problem for wealtlhier investors. Scant attention is paid to this issue and unfortunately, I don’t have an answer to your question. You might want to check out “OnTrajectory” retirement planning software. https://barbarafriedbergpersonalfinance.com/can-i-retire-early-with-ontrajectory/ It offers some robust planning features.

      I think there is certainly a need for this type of modeling and I’m unaware of any other commercial products that focus solely on future tax modeling in retirement. That said, I’d suggest a deep search to find out about any softare that can might these calculations. If none exists, you may have stumbled upon a unique business opprotunity, if you have the skills to create this type of “what if” future tax analysis. Please keep me posted on this topic and whether you uncover an existing software that can handle future tax consequences modeling. Regards, Barbara

  5. Avatar

    Good article, thanks for sharing with other investors.

    Do any of the above portfolio tools allow for hypothetical portfolios that include historical data? If I want to construct a proposed portfolio for a client (I too am a financial advisor) and show them the historical performance, can this software accomplish this? I looked at a different package (Qwanti) in this past, but this was quite pricey. I’m still looking for something like this, but in a low cost simple online tool. Any suggestions?

      1. Avatar

        I tried Portfoliovisualizer is it Great to try out. And very granular detailed it need it to be.
        It helped me make my own portfolio back testing it that beat the SP500 about six times. But trying to find money to make use of my plan! Financial people knock backtesting but I am sure they use it too. And probably had supercomputers to do highlevel views of sentiment of the public, corp earning changes, political and world influences, job less rates etc.

  6. Avatar

    Hi Barbara, this is a great and thorough analysis. I am looking for a very specific use case and hoping you know of a tool that could help. To illustrate, I’d like to use an example. In this example, we can use Microsoft as the stock.

    I have a portfolio of around 40 etfs. My ETFs have much crossover in holdings but vary enough to hold multiple. However, I often wonder, with all my ETFs combined how much of one holding I own. For example, how much Microsoft do I own (or what percentage of my total etf portfolio reliant on Microsoft). There are many weighted calculations to get this number, but it shouldn’t be impossible to find. It’s also something I’m sure many people wonder.
    I’m also aware that holdings and their weights fluctuate as pricing rises and falls across the etf, but when buying into an etf I assume I own some “units” of Microsoft and that doesn’t fluctuate.

    I also know that ETFs are occasionally rebalanced or adding and removing stocks. Intially I don’t necessarily need a live update, but more of a general idea of how microsoft might affect my overall portfolio, for better or for worse.

    Let me know what ya think!
    Mike

    1. Barbara A. Friedberg, MBA, MS

      Hi D, All financial accounts at major banks and financial companies have insurance to cover losses. If you bank online, then you’re depending upon the security of your bank or financial institution. PC has the same level of security. Unfortunately, in today’s world there are no guarantees for anything, yet, financial institutions have many mechanisms in place to secure your investments and cash.

      1. Avatar

        Their need to have the one set of credentials to an account is why I won’t use them. If brokers offered a read-only OAuth login for systems like PC, it would make sense and then be secure.

        Greg

  7. Avatar

    Is there a Canadian version of Personal Capital Software? Can you recommend a software platform that has been Canadianized (I.E. investment account, RRSP, TFSA, etc. not 401K)?

  8. Avatar

    Do any of these software tools let one do the following?
    1. tag investments with an unlimited set of parameters, e.g. (Sector: US, Intnl, EM; Factor: size, value, momentum; Type: stock; ETF; MF; Status: open, closed; etc.)
    2. track all cash activity associated with a given investment over an unlimited time span: dividends, fees, recharacterizations, purchase/sales
    3. calculate the IIR over any date range for any collection of investments with the parameters selected by the user for that calculation
    4. show a portfolio balance based on user-defined percentages of any subset of the user-defined parameters of item 1

    If so, could the data of item 2 be transferred from a spreadsheet to the program by linking a row/column space on the spreadsheet to a data field in the program, e.g. dates, money flows, qualifier field (e.g. an x or number letting the software know the nature of that money flow item)

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