Investment Portfolio Management Software
Best Investment Portfolio Management Software include:
Morningstar Advisor Workstation, Morningstar Direct, Envestnet Platform, Altvia AIM (Alternative Investment Management), AngelList Venture, RightCapital, MoneyGuidePro, NaviPlan, by Advicent, BlackRock Aladdin, and Allvue LP Portfolio Management.
Clearwater Analytics is a provider of web-based investment portfolio accounting, reporting, and reconciliation services for institutional investors at thousands of organizations, headquartered in Boise. Clearwater aggregates, reconciles, and reports on more than $5.5 trillion in…
Charles River Development headquartered in Burlington offers Charles River Portfolio Analytics, a financial risk management platform dedicated to providing data-driven investment decision support.
Fiserv offers their Unified Wealth Management technology solution, providing a multi-vehicle and multi-asset class portfolio accounting system with related trading, tax management and rebalancing tools for all fee-based advisory programs, goals-based financial and investment advisory…
What is investment portfolio management software?
Investment portfolio management software helps investors manage and keep track of their portfolios. Rather than checking multiple applications to view their assets, users can store all their portfolio information on a single platform. These portfolios generally include401(k) plans, savings accounts, mutual and exchange-traded funds, individual stocks, bonds, and individual retirement accounts (IRA).
In addition to providing a snapshot into the current state of you or your clients' net worth, these software tools also include useful accounting and reporting features that simplify the process for the user such as personal finance, budgeting, and goal setting sheets. They are commonly used by wealth management professionals to build and track their clients' portfolios but are also accessible for individuals seeking a single platform for their own benefit. Individuals using these platforms should look for software products with less complicated features that don’t require as much of a learning curve as those for wealth management professionals.
With more educated and informed investors, it is more common today for the average person to have many types of investment accounts. This makes tracking, especially by hand or spreadsheet, an incredibly difficult task. Additionally, investment portfolio management software automates certain tasks such as transferring funds, placing orders, and providing current market analysis breakdowns. These software products are also commonly referred to as wealth management software, stock portfolio management software, and fund administration software.
Investment portfolio management software features
Investment Portfolio Management Software usually has the following capabilities:
- Client communication
- Client management
- Client/board portal, securely share capital statements
- Fund accounting
- Cash management
- Approval workflow
- Customizable dashboards for financial reporting, summary data
- Financial analytics module
- Investment portfolio optimization
- Regulatory compliance management
- Compliance reporting
Investment portfolio management software comparison
Some important factors to keep in mind when deciding on the right investment portfolio management software product include:
- Ease of Use. More advanced packages may have more difficult user interfaces and client portals. As such, ensure that the amount of time required to learn the ins and outs of the product you select makes sense for your individual use case.
- Use Case. While most of the products are useful in overall asset management, some products may be more geared towards salespeople rather than portfolio managers. For example, features such as market analysis and asset performance may not be as necessary for salespeople but extremely useful for wealth management professionals. Be sure the software is designed to fit your specific needs.
Pricing for investment portfolio management software varies based on the features and capabilities you are looking for. For basic products, look to pay between $50 to $300 a month, usually per user. For more advanced products and features, such as risk management tools, expect pricing to range between $600 to $1500 a month per user. Some products will offer a discount for annual payment. Vendors typically offer a free trial.