Best Investment Portfolio Management Tools
Investment portfolio management software, also known as wealth management software, tracks and manages investor portfolios. Investment professionals use these solutions to build, track, and manage their clients’ investment portfolios. This software includes tools that facilitate client-investor communication and can be used by investors, financial advisors, and their clients.
Wealth management firms, asset management companies, hedge funds, insurance companies, and pension funds use portfolio management platforms to manage client portfolios, monitor fund performance, manage liabilities, and diversify asset management.
Best portfolio management platforms come with features like investment tracking, investment accounting, reporting, client communication tools, investment analytics tools, and more. It allows advisors and investment professionals to maintain a holistic view of their activities on behalf of their clients, aggregating all relevant data and offering tools to aid in investment analysis. Moreover, the best investment portfolio management software allows users to watch asset values, stay on top of market conditions, spot threats and exposure to risks, and provide custom financial insights.
If investment portfolio management tools do not have built-in accounting features, they often integrate with other accounting solutions for support, such as brokerage trading platforms. Solutions in this category also connect to third-party sources to import market data.
To qualify for inclusion in the Investment Portfolio Management category, a product must:
Best Investment Portfolio Management Software At A Glance
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- Overview
- Pros and Cons
- User Satisfaction
- Seller Details
Morningstar Direct can help you research markets, position products, analyze the competition, and share their insights quickly, clearly, and concisely. Direct meets your workflow needs in one place
- Financial Services
- Investment Management
- 39% Small-Business
- 35% Enterprise
215,273 Twitter followers
- Overview
- Pros and Cons
- User Satisfaction
- Seller Details
Morningstar Advisor Workstation is a connected suite of tools spanning proposal creation, investment research, investment planning, and more that empowers great advice helps drive success for advisory
- Financial Advisor
- Financial Planner
- Financial Services
- Investment Management
- 53% Small-Business
- 33% Enterprise
215,273 Twitter followers
- Overview
- Pros and Cons
- User Satisfaction
- Seller Details
Koyfin is a modern and cost-effective financial analytics platform used by over 30,000 financial advisors and wealth managers. It provides tools to create model portfolios, analyze client portfolios,
- Financial Services
- Investment Management
- 89% Small-Business
- 7% Mid-Market
57,592 Twitter followers
- Overview
- Pros and Cons
- User Satisfaction
- Seller Details
Managing a 401(k) is challenging. That’s why Betterment at Work makes it simple for employers to offer a high quality 401(k). From ongoing administrative support & investment management, tailored
- Owner
- CEO
- Computer Software
- Information Technology and Services
- 73% Small-Business
- 26% Mid-Market
36,444 Twitter followers
- Overview
- Pros and Cons
- User Satisfaction
- Seller Details
eMoney provides technology solutions and services that help people talk about money. Rooted in comprehensive financial planning, eMoney’s solutions strengthen client relationships, streamline business
- Financial Services
- 73% Small-Business
- 16% Mid-Market
14,048 Twitter followers
- Overview
- Pros and Cons
- User Satisfaction
- Seller Details
Morningstar Office is the only turn-key portfolio accounting and practice management platform for RIAs (Registered Investment Advisors) that fully integrates Morningstar’s robust data, analytics, and
- Financial Services
- 83% Small-Business
- 17% Enterprise
215,273 Twitter followers
- Overview
- Pros and Cons
- User Satisfaction
- Seller Details
Altruist is on a mission to make great independent financial advice more efficient, affordable, and accessible. The company’s all-in-one financial advising platform provides fiduciary advisors with cu
- Financial Services
- 100% Small-Business
4,530 Twitter followers
- Overview
- User Satisfaction
- Seller Details
SimCorps portfolio management software gives you real-time investment management analytics and data to help improve decision making. From front to back, our product portfolio delivers the resources yo
- Financial Services
- 48% Mid-Market
- 38% Enterprise
2,182 Twitter followers
- Overview
- User Satisfaction
- Seller Details
Firms that want to stay current and competitive in this dynamic market need a portfolio management solution that supports multiple asset classes, multi-currency portfolios, complex global fund structu
- Financial Services
- 50% Enterprise
- 50% Mid-Market
2,599 Twitter followers
- Overview
- User Satisfaction
- Seller Details
NetX360 provides the technology to efficiently manage your business from CRM and client onboarding to operations and reporting.
- Financial Services
- Information Technology and Services
- 41% Enterprise
- 29% Mid-Market
7,172 Twitter followers
- Overview
- User Satisfaction
- Seller Details
Backstop, a service of ION Analytics, has a mission to help clients break down the barriers to data access and deliver better decisions. As part of ION Analytics, our industry-leading services redef
- Financial Services
- Investment Management
- 76% Small-Business
- 20% Mid-Market
- Overview
- Pros and Cons
- User Satisfaction
- Seller Details
Provide a completely new way to invest in the stock market, we make it easy, understandable and enjoyable. Simply wall st sought to address this by presenting stock data in a new, visual format, one t
- 67% Small-Business
- 17% Enterprise
14,686 Twitter followers
- Overview
- Pros and Cons
- User Satisfaction
- Seller Details
Ziggma is a next-generation portfolio management and investment research platform, designed for independent investors. Clients, who link their portfolios to Ziggma, benefit from unique insights into
- Financial Services
- 100% Small-Business
- 6% Mid-Market
- Overview
- Pros and Cons
- User Satisfaction
- Seller Details
Seeking Alpha is an industry leader in mining the wisdom of the crowds for insights on every topic of interest to investors. It provides analysis, news, and data to stock market investors, via our web
- Financial Services
- 68% Small-Business
- 23% Mid-Market
269,785 Twitter followers
- Overview
- User Satisfaction
- Seller Details
Named the top choice of financial planning software for eight straight years, according to Financial Planning Magazine's annual survey. Why? We make financial planning engaging for the client.
- Financial Services
- 83% Small-Business
- 13% Mid-Market
Learn More About Investment Portfolio Management Software
What is investment portfolio management software?
Portfolio management is the process of allocating assets and downsizing the risks while maximizing the returns for the investor. Investment portfolio management software handles investment portfolio research, selection, and analysis. Portfolio management software is a single place for investment professionals to manage all investment management activities.
Investment professionals use these solutions to streamline portfolio management activities, including tracking investments, building reports, and interacting with portfolio owners. These solutions have a wide range of functionality, but the primary goal is to use them for trading and tracking stock portfolios, bonds, options, futures, and other asset classes.
Portfolio management can be broadly divided into four types based on the strategies, forms, and characteristics:
- Active portfolio management: In this type of portfolio management, portfolio managers tend to act contrary to the market norm to maximize profit. They participate actively in the market by buying a low-valued asset, predicting its potential against its current cost via trend and company performance, and selling the asset when it rises to maximize the investment. The active manager rejects the efficient market hypothesis and relies on ratios to support their assertion.
- Passive portfolio management: This is where the funds are passive, i.e., long-term guaranteed returns are bet on compared to active asset trading. In this type, the advisors or managers maintain a fixed portfolio, believing in the efficient market hypothesis. Therefore, they tend to invest in index funds and ETFs for low ratios but guaranteed returns.
- Discretionary portfolio management: In this type of portfolio management, the manager is given the discretion to make decisions while the investor reaps the benefits. The manager acts on behalf of the investor based on the investor's financial goals and interests while considering the specified time of return on investment (ROI).
- Non-discretionary portfolio management: This management type requires fund managers to act on the investor's confirmation. The fund manager serves only as an advisor to the investor while conducting investment reports and analyses. However, the fund manager oversees the execution of the investment and divestment from the portfolio after a green signal from the investor.
What are the different types of portfolio management software?
Investment portfolio management software can be broadly divided based on its design, usage, and entities it is catering to while also considering the needs and preferences of investors and financial professionals. Based on the intended use (more generally for personal), where the design is based on investor intention, it can be divided into:
Traditional brokerage involves an agent managing an investor's diverse portfolio. These agents or financial professionals may use investment portfolio management software to track and manage diverse investment portfolios on behalf of clients. Wealth management companies use this approach to offer personalized investment strategies to their clients.
Robo-advisor investment management platforms use algorithms to understand investors’ goals and risk tolerance and share suggestions accordingly. These investment portfolio management tools work best for individual investors looking for low-cost solutions with minimal human intervention.
Advisory platforms make it easy for financial advisors and wealth managers to manage client relations, plan finances, and create investment strategies. These solutions help clients analyze and manage financial data and cash flows based on their retirement goals and other personal financial objectives.
Comprehensive portfolio management software offers end-to-end solutions, including performance tracking, asset allocation, risk analysis, and reporting. These platforms are ideal for investment firms, family offices, and institutional investors.
Real estate investment management software allows financial advisors and fund managers to track and manage different real estate portfolios. It also enables advisors and real estate investment trusts (REITs) to manage properties, track tenants, and conduct financial analyses of properties.
Mutual fund and ETF management software offer specialized tools for managing mutual funds and ETFs with functionalities for performance analysis, compliance, and reporting.
What are the common features of investment portfolio management tools?
The following are some core features within investment portfolio management software that can benefit users while providing the best returns and maximizing profits according to the investor's needs and intentions:
- Investment advisory solution: Offers personalized guidance, leveraging algorithms and financial analysis tools. They aid users in informed decision-making, optimizing asset allocation, and aligning portfolios with financial goals, risk tolerance, and market dynamics, thereby enhancing investment strategies.
- Accessible direct indexing: Designs bespoke portfolios, allowing investors to directly customize portfolios that can be mirrored to specific indexes without buying an ETF or mutual funds that track and follow that specific index. This follows a strategy that includes passive investing with active customization.
- Automated rebalancing: With a predetermined financial setting (i.e., the required financial output), the feature adjusts and allocates assets to ensure the financial target. This ensures the portfolio aligns with the investor's risk tolerance and investment objectives. When the actual allocation deviates from the target due to market fluctuations or asset performance, the software automatically buys or sells assets to return the portfolio to its desired balance.
- Risk assessment: This feature is necessary to analyze the risk of the portfolio, considering standard deviation, beta, and other investment metrics. It provides reporting and insights into asset performance and solutions for averting potential risks.
- Financial planning and asset allocation: Financial goal planning is an important aspect of investment portfolio management software as it helps set financial targets according to an investor's budget, intention, investment horizon, and risk tolerance level. This, in turn, will facilitate asset allocation by providing a suitable asset class and portfolio management costs.
- Portfolio tracking and analysis: This helps track the portfolio and its assets along with investment performance, monitor investor holdings, and track investment costs. It also completes portfolio analysis by tracking and reporting historical returns, benchmarks, and visual representations of portfolio performance over time.
- Transaction management: Records all portfolio transactions, including buys, sells, dividends, and fees, to ensure accurate performance tracking and reconciliation of accounts.
- Tax management and optimization: Offers tools for tracking capital gains and implementing tax-efficient strategies such as tax-loss harvesting to optimize after-tax returns.
- Real-time alerts: Sends real-time alerts for significant market changes, reaching risk thresholds, or portfolio rebalancing opportunities to ensure timely decision-making.
In addition to this, the software must also provide integrated solutions such as transaction management, investment simulator, tax optimization, document management, compliance due diligence, financial reporting, and visualization while also effectively managing and communicating with clients.
What are the benefits of portfolio management platforms?
Financial advisors, financial institutions, independent investors, and small and large businesses use investment portfolio management software to allocate their investments, advise clients, manage their diverse portfolios, and execute financial decisions as part of their investment plans.
There are various benefits such as alternative investing, efficient investment tracking, technology integration, and several others, which include:
- Advanced investment analysis: The development of thinking computer systems, i.e., AI, has led to the provision of detailed performance reports, financial predictive analytics, automated portfolio management, and decision executions. This has improved decision making via educated and crucial accurate data analysis.
- Compliance management: Better categorization of documents and workflow management, along with automated distribution and tax generation, has led to improved compliance management, which has eased investors, portfolio managers, and investment advisors to increase operational efficiency.
- Asset tracking: The age-old book and pen method has led to difficulty tracking investments. The software helps in efficient portfolio tracking and managing various investments such as stocks, funds, ETFs, real estate, cryptocurrencies, and other assets, cleanly grouping each asset class to the minute details and accurately reporting their costs and returns.
- Risk management and performance monitoring: Identify potential risks across diverse portfolios, analyze market data, benchmark comparisons, provide competitive analysis, and other crucial insights to help check asset performance and avoid losses.
- Manage and build client relationships: Streamlines client interactions, offering insights into financial performance and facilitating personalized advice. Regular upda