Exciting articles several times a month
1 November 2016
Investors know that fluctuations in the stock market are fast and often unpredictable, so having a reliable source of up-to-date information at your fingertips might be a smart way to manage your portfolio and make split-second financial decisions. Now that smartphones and tablets have become our go-to devices for online activities, you can install different multi-platform and multi-device apps that will make investing easier. Here are five useful apps for first-time and experienced investors that will help you track your portfolio, categorize your assets, check the performance of your funds and reach your goals faster.
Personal Capital app is an “account aggregator” that allows users to manage all their financial and investment accounts from one location, gives them a full-screen overview of their investment performance in the form of bright and colorful charts and graphs, and provides basic investment guidance. You can get a 24/7 access to your stocks, bonds, or alternative investments like REITs to summarize your net worth and minimize possible risks.
After you link your accounts to the online interface, you can categorize your assets to optimize your holdings within each class and develop a long-term financial strategy using computer algorithms. Plus, you can take advantage of such free tools as the Fee Analyzer and Investment Checkup to assess the health of your investment portfolio and calculate hidden fees. The financial advisory service fee is 0.89% per year for accounts with a balance up to $1 million.
Available for iPhone/Android mobile devices, Acorns app is a good choice for young and beginning investors wishing to create a diversified portfolio using new technologies and a hands-off approach. This simple and user-friendly app uses a round-ups system that allows users to link their bank accounts and then automatically rounds up the cost of their daily purchases to invest the spare change in different ETFs, including large/small company stocks, emerging markets, real estate, and others.
For example, if you buy a coffee for $2.75, Acorns will take $.25 and invest this amount in an ETF. This way, with just a few dollars each day, you can create your first custom portfolio of exchange traded funds. Acorns offers various investment solutions with risk levels ranging from Conservative to Aggressive, created with the help of Harry Markowitz, the “father” of the Modern Portfolio Theory. Currently, the company charges a $1 monthly fee for managing accounts with a balance under $5,000, and 0.25% per year for accounts over $5,000.
Banktivity Investor (ex-iBank Investor) is a mobile portfolio app for iOS devices allowing users to manage their financial holdings and get access to valuable stock market information on the go. It is possible to sync your investment data from Banktivity Investor on your Mac to your iPhone/iPad, categorize your assets and monitor their market value or current and total gain/loss ratio.
In addition to classic personal finance app features, Banktivity Investor can automatically download the latest stock quotes from Yahoo! Finance at launch. If you want to track and optimize your investments, you can take advantage of the Investment Summary and Portfolio Summary features providing interactive pie and bar charts for drill-down reporting. The app’s drawback is its high cost – $59.99.
Kapitall is a great app for investing newbies who want to learn more on how to analyze stock markets and make smarter investment choices. Partially created by video game entrepreneur Gaspard de Dreuzy, the app provides a large field to play on – you can either transfer your own “real” money for investing or take advantage of a free sample account to play around and improve your investing skills.
If you decide to start actual trading, you can get a professional overview of your portfolio, track and optimize your financial holdings. Kapitall is easy and even fun to use – you can add different ETFs, stocks and mutual funds to your investment portfolio using a drag & drop option. As for the fees, the company charges $7.95 per trade. You can also earn “Kapitall Koins”, an electronic currency used to make purchases in the Kapitall store.
SigFig Wealth Management
SigFig is an interactive user-friendly portfolio management tool offering a lot of useful features for investors, like 24/7 portfolio monitoring, reporting dashboards, tax loss harvesting, and automatic rebalancing. You can pull your existing investment accounts into one place to get their free analysis and quick improvement strategies.
If you are just going to start investing and sign up for a managed account, you’ll need to complete a short questionnaire to assess your investing style and identify your financial goals. The app will calculate your personal risk tolerance and build an efficient investment portfolio based on low-cost ETFs from Vanguard, iShares and/or Schwab. In this case, the first $10,000 is managed for free, after that the company charges 0.25% per year.
Using a portfolio or stock market tracker app on your smartphone or tablet can make investment management tasks easier. If you are an experienced investor, you can keep your finger on the pulse with the latest news and change notifications. Novice investors will quickly take the mystery out of stocks with numerous useful mobile apps offering great investment advice. Just define your financial goals and make a research to find the application solution that best suits your needs.
Exciting articles several times a month