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5 Best Asset Management Software Of 2023
To make the best asset management software choice for your organization, you need to consider your specific business needs and requirements. Here are a few critical questions that you should ask when exploring asset management software options:
We also recommend researching the vendor's reputation and track record to ensure it consistently delivers the exceptional quality you expect. The five asset management software options listed in this Forbes review—Asset Panda, ManageEngine AssetExplorer, MMSOFT Pulseway, GoCodes and Ivanti— are all top solutions that offer a full suite of essential features that make these providers worthy of a closer look.
Types of Asset Management SoftwareSeveral different categories of asset management software are available, each directed to specific needs. It's vital that you select the solution that best fits your organization's business requirements. Here are five popular types of asset management software:
The exact features you need in your asset management software will depend on the type of assets you intend to manage. Here is a list of top features found in many different types of asset management solutions:
You want to be confident that the asset management software you select is compatible with your company's technology and software, including your current operating system. The software provider should give you a detailed list of system requirements necessary to run the software.
Get clear on what's expected from your team and what you can count on your software provider to do for you. For example, consider whether your IT team will be responsible for software installation and updates or whether that is handled through the provider. Also, make sure you understand where the software will be hosted—on a web server or cloud-based—and who will be hosting the software—your company or the software provider.
Finally, asset management software should provide extensive security features to protect your assets and sensitive data from unauthorized access, loss or corruption. Top security features include secure data encryption, two-factor authentication, firewalls and intrusion detection, secure data backups, and regular security updates and patches.
Analytics and ReportingStrong analytics and reporting are crucial to making smart asset purchase and allocation decisions. Your asset management software should provide a full range of analytics and reporting capabilities that will help you gain insights into asset usage, performance, costs and other trends that are relevant to your business.
You may want to track and analyze:
You also want to ensure that your software provides robust reports that will give you greater visibility into the total value of your deployed assets and will help you make more informed asset decisions. Check out what types of reports are available—and whether custom reports are offered—before purchasing asset management software.
The Best Portfolio Management Software
Got a handful of bank accounts, a college savings account for your 6-year-old, and 401(k)s from a few past jobs out there somewhere? How about if you're an options trader but also want to track other investments you have? It can be tough to reign it all in, and that's where the best portfolio management software comes in handy.
Portfolio management software can track your portfolio against the rest of the market and can help you stay on top of your finances by giving you a comprehensive overview of your full portfolio. Just think of it as a bird's eye view.
Portfolio management software is different from trading software and is worlds apart from what your online broker can offer. Read on and discover which software might be best for you.
Best Portfolio Management Software
We researched and reviewed several of the best portfolio management software options on the market.
Domain Money
As you hunt for a portfolio management system, you will discover that every platform has its own schtick. With Domain Money, you will uncover a range of crypto portfolios that are easy to use, offer quality returns and help you make wise decisions.
Domain Money offers the following portfolio styles:
These actively-managed portfolios offer you the mix of investments that you want, and Domain Money does the rest. The firm works behind the scenes to ensure that the portfolio you've chosen performs well. Plus, there are no lockups, minimums ranging from $100 to $500 and a 1% annual management fee. You can save money and pour your cash into crypto, but Domain Money will do the work.
Interactive Brokers
Interactive Broker is a comprehensive investment platform that offers affordable prices and access to a wide range of assets. IBKR makes it easier to invest by giving you access to:
When you trade with IBKR, you can buy into stocks, ETFs, mutual funds, forex, options and futures. You can also invest in bonds, spot gold and cryptocurrencies, helping you build a more diverse portfolio that is safer to manage long into the future.
Features of the platform include:
Personal Capital
If you're after a large financial snapshot, you can get that for free with Personal Capital. You'll get a comprehensive real-time overview of your net worth, a spending analysis, retirement planners and portfolio performance — all free on Personal Capital's dashboard.
The spending analysis gives you a comprehensive overview of you where and how you spend your money (restaurants, grocery stores, etc.).
The Retirement Planner can pinpoint exactly where you are relative to your retirement goals. Personal Capital can give you a portfolio performance which shows you how your assets are performing.
The Fee Analyzer shows you how much you're spending on fees and where you can save thousands, particularly if you have mutual fund fees. You can even anticipate future expenses, such as planning for college, getting married or any other upcoming life event.
In terms of wealth management, Personal Capital offers robo-investment services as well as real human financial advisors. Its annual fee is 0.89% and you need a $100,000 minimum in your account to get a personalized investment strategy. It'll help you take the guesswork out of your goals and plug any holes for any future "what-ifs" that can come your way.
If you want a transformative experience and a quick way to analyze and build your net worth, there's seemingly no end to what Personal Capital can offer.
Vyzer
When your family has a range of investments that are both preparing for the future and potentially generating income in the present day, you might need a little help keeping track of all that cash. Where is it, what's it doing and are you reaching your financial goals?
An account with Vyzer can help you analyze all your financial documents, integrate with financial platforms online, generate reports and track transactions made from these accounts. In short, you always know where the money is and it's much easier to control the purse strings.
Because your portfolio can spread all over the place, this is the perfect solution. You don't need to consolidate and close accounts when it's much easier to connect them all here. Plus, you can integrate all your accounts and forget all spending hours checking them all when one look at your dashboard on Vyzer is enough.You even have the option to manage your investments through the Vyzer app on your Apple or Android device.
If your family is investing with others, managing several large investments and generating income at the same time, wealth management tools from Vyzer ensure that your virtual office tells you how your money is performing, the structure under which each investment was made and more. Plan for cash flow, set up distribution schedules, review your cash flow and preview scenarios that might cause you to adjust your investments.
Ziggma
Link your investment accounts to benefit from Ziggma's suite of portfolio monitoring and optimization tools. Create a Ziggma account for free, and its Portfolio Manager will automatically monitor your key parameters.
You can set the Smart Alerts within seconds to receive notifications for limits breached on portfolio risk, price, yield, PE ratio and more. With your personalized alerts in place, you'll have more free time to focus on research or any other prep to keep your portfolio where you want it.
And Ziggma's account aggregation means you can easily link your brokerage account to the Ziggma Portfolio Manager. Ziggma works with Plaid. Recently acquired by VISA, Plaid is a market leader in account aggregation working with virtually all U.S. Banks. Plaid's encryption technology means you can expect the best data security.
Link your investment portfolios to Ziggma today to benefit from its tools where it matters most.
Fund Manager
Fund Manager portfolio management software runs on Windows 10, 8.X and 7. It's compatible with both 32- and 64-bit versions of Windows. Fund Manager can track your stocks, mutual funds, options, bonds, cash and other investment types.
More specifically, you can track the following:
Fund Manager's Personal version includes extensive portfolio management features for most individual investors. The Professional version is meant for active traders and adds advanced features such as trailing stop-loss alerts, technical analysis, real-time quotes and advanced statistics.
Fund Manager can access funds directly from your broker, import funds from other formats or you can enter them manually.
You'll get 48 customizable graph types and 21 available report types.
Fund Manager prices include $99 for a new version and $39 for an upgrade. It's $295 for a new Professional version. You can upgrade from Personal to Professional for $260 and $89 if you upgrade to an already-existing Professional software.
StockMarketEye
StockMarketEye portfolio management software is for individual investors and asset managers. The customer-centric company makes short work of grabbing your investments for analysis.
You can use a brokerage import to access your accounts directly from U.S. Brokerages through QIF, OFX/QFX or CSV formatted files. You can also manually add your investments and enter any type of transaction from buys and sells to dividends, splits, cash deposits and more.
Data is stored locally on your computer and is available for Windows, Mac, Linux, iOS and Android. Though it's stored on your computer, you can use it online to access portfolios, watchlists, charts, alerts and more.
The app isn't as comprehensive, however, as it offers no charts, no ratios and limited views when you want to see your portfolios.
You can sum up current and past performance through a comprehensive set of reports and create watchlists to keep track of your investment ideas. Comparison charting can get you a view of more than one stock at the same time for a much savvier overview of performance over a particular time period.
You can try StockMarketEye for free for 30 days. After that, a paid subscription for your 1st year is $99.99. Subsequent years are $49.99 per year.
Stock Rover
Stock Rover makes portfolio management that much simpler by offering over 650 screening criteria, allowing you to tap into any segment of the market at any time. Free accounts are available, and you can dig into the platform by taking advantage of:
With robust customer support and a powerful learning center, you can try Stock Rover today, track your investments and make wise decisions.
You can even read through weekly market briefs and watch educational videos that give you more insight into how the market is performing and how you should respond. Set your own equations as you use the screener application, use the device on a mobile phone and even enjoy Stock Rover on a tablet as you work remotely.
How Portfolio Management Software Works
Web-based financial planning software and portfolio trackers like Personal Capital are popular. You can connect your finances by linking your accounts to an online portfolio tracker. But online portfolio management can't do quite as much as a software-based portfolio manager.
We've featured both options here so you can choose how in-depth you'd like to get with your portfolio.
The software offers much more powerful reporting, sophisticated technological elements and a spot-on ability to calculate gains and losses. In short, the software should offer a plethora of reporting tools and options, no matter the securities you own.
Most portfolio management software operates similarly. Typically, you'll download and install the portfolio management software on your computer. Then, you'll import or enter historical transactions or enter starting positions of all of your accounts.
Your portfolio management software should be able to connect to the internet and automatically obtain your data. You'll be able to see detailed graphs, in-depth reports (which are usually customizable) and modify transaction data for all your investments.
What to Look for in the Best Portfolio Management Software
A few characteristics to look for as you choose the best portfolio management software include user-friendly features, a wide variety of reports and support for all of your funds.
User-Friendly Features
How well can the software handle your personal needs? Can you easily operate the software? These are a couple of questions that might be at the forefront of your mind.
You might not want to spend weeks configuring and learning the program, so get a taste beforehand of whether each program has a bit of a learning curve. Several programs offer demos so you can try them out for yourself before you buy.
Wide Variety of Features
The portfolio management software you choose should have a number of options available to you. It should offer thorough investment tracking, accounting, reporting, communication tools, analysis tools, customizable reports and more.
You should have access to tools that can help you understand your investments and even connect you to 3rd-party sources if you need to import specific market information. You may even want to manage your cash through a client portal where you can buy and sell. Ultimately, it's important to make sure the features you want are there.
Ability to Support a Vast Array of Assets
The portfolio management software you choose should be able to help you manage stocks, bonds, mutual funds or exchange-traded funds (ETFs) but in addition to the basics, a vast number of other types of trading and investment vehicles should be supported.
Some software supports options trading, for example, so be sure that the portfolio management software you choose can support every type of trading you do.
Choose the Best Portfolio Management Software for You
You may have already decided that you need a portfolio management tool, particularly if you feel like your portfolio is scattered among 6 different brokers. Organize your finances now, and choose among Benzinga's top portfolio management solutions.
Just be sure to do some testing ahead of time so you're positive that the software you test and ultimately select is a great match for you.
After all, if you don't like the way a particular software's report generator showcases your portfolio, you could be stuck staring at the same grainy pie charts and graphs for years. Do yourself a favor ahead of time and check out the demo options built into many portfolio management software options.
Best Investing Apps For Portfolio Management
Quicken is a comprehensive budgeting and financial planning platform that's been around for decades. Among many other features, it offers great tools for tracking your investments, making it the best choice for experienced investors looking for a complete portfolio management solution.
Quicken offers four service tiers: Starter, Deluxe, Home and Business, and Premier—the latter is best for investment portfolio tracking.
Users link their financial and investment accounts to the Quicken platform, from IRAs to 401(k) accounts to taxable brokerage accounts. The platform gives you a unified view of your total investment portfolio across accounts, lets you set asset allocation goals, compares your actual allocation to goals, and compares your portfolio's performance to common benchmarks. You can review the asset allocation at the portfolio, account level, or individual security.
You can track investment opportunities and create stock watch lists. There is a top-notch retirement planner, investment activity reports, performance data and buy/sell previews. Nearly all features are customizable.
There are nine investment reports, highlighting asset allocation, income generation, total performance and portfolio value versus cost.
Quicken Premier integrates directly with Morningstar's Instant X-Ray tool, which we discuss above. The direct integration is helpful, as with Quicken, and there's no need to enter your mutual fund holdings into Morningstar's tool manually.
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