Are your investments spread out in lots of places? Are your 401(k) plans, trading accounts, and savings accounts located at different institutions? If that’s the case, then you likely receive separate updates for each on the status of the accounts, which can get confusing. It can also be difficult to know exactly where you stand in regards to net worth

Some investors swear by portfolio management software to help solve this problem. In some cases, like for retail investors, dealing with this type of software is a simple process. Below we provide synopses of portfolio management software programs for retail investors as well as much more advanced portfolio management software programs for money managers. (For related reading, see: Which Robo-Advisor is Right for You?)

For Retail Investors

Quicken Premier 2015

Price: $149

This system is best suited for those working on a desktop computer. Key features for Quicken Premier 2015:

  • Multiple Portfolio Views: asset allocations, geographic regions, sectors, performance comparisons
  • Insights for improvement
  • Import transaction capability from banks and brokerage accounts
  • Cost basis tracking
  • Capital gains estimates
  • Performance vs. market
  • Mutual fund comparisons
  • Helps make buy/sell decisions

Mobile features include:

  • Check account balances
  • Track budget
  • Updates and alerts
  • Snap and store receipts

Owl Software’s Personal Portfolio Manager (for Windows XP through Windows 10)

Price: $69. Comes with a free 30-day trial. If you don’t like the program, you can uninstall prior to 30 days to avoid being charged.

Key Features:

Quant IX Software’s Investment Account Manager 2.0

Price: $79/year with technical support, or $109/year with data feed with Quote Media for fundamental and descriptive data for stocks, ETFs, and mutual funds.

This software is designed by professional money managers and has been used by investors since 1985. Most say it's the ultimate tool for easy consolidation. Its Portfolio Setup Wizard allows you to import your transaction history and balances within minutes.

You will also receive transaction accounting for:

Personal Version (new): $89

Pro Version (new): $295

Advisor Version (new): $1,395

This portfolio management software is best suited for retail investors, money managers, and active traders. It tracks all trading and provides a Portfolio Active Summary as well as a Portfolio Performance Summary. (For related reading, see: How Advisors Can Adjust to Robo-Advisors.)

The Portfolio Active Summary includes:

  • Beginning market value
  • Contributions
  • Withdrawals
  • Withdrawal distributions
  • Account fees paid
  • Gain/loss
  • Ending market value

In addition to an Index Performance Summary, the Portfolio Performance Summary provides performance for the following time frames: Quarterly, year-to-date, one year, three years, five year, and ten year. 

Other key features include:

  • Importing capability
  • Updates and alerts
  • Graphing
  • Portfolio comparisons
  • Export capital gains information to tax software
  • Customizable reports
  • Multi-currency support
  • 45 graph types
  • 21 report types

For Professional Money Managers

softTarget's iBalance

Price: $8,000/month

This software might seem complicated at the start if you’re not experienced with portfolio management software in general. However, it won’t take long to adjust.

Features Offered:

Price: $27,500/year

Features Offered:

  • Compliance management
  • Modeling
  • Scenario simulation
  • Portfolio rebalancing
  • Workflow automation
  • 24/7 live support
  • Benchmarking
  • Payroll/commission
  • Performance metrics
  • Portfolio management
  • Risk management
  • Rules-based modeling/compliance
  • Performance measurement – GIPS/IRR
  • Risk analytics
  • Breakout allocations and returns
  • Scenario tool
  • Yield curve analysis
  • “What if” analysis
  • Cash flow analysis
  • Complex fee calculations

Industry-Specific Ideas

FundCount's Portfolio

Price: Must Contact FC Portfolio

This software is best suited for hedge funds, fund administrators, and private equity funds. (For related reading, see: 10 Top Broker-Dealers to Follow on Social Media.)

Key Features:

  • Account management
  • Benchmarking
  • Client management
  • Equities
  • Fund management
  • Payroll/commission
  • Performance metrics
  • Risk management

Other Features Include:

  • GIPS-compliant presentation of performance reporting
  • Wide range of securities covered
  • Interfaces with brokers/custodians
  • Automated broker/custodians reconciliation
  • Client management and billing
  • Check writing
  • Workflow engine
  • Reports distribution engine
  • Integrated general ledger

Price: Must Contact eFront (free trial available)

This software is best suited for private equity firms that want to ensure consistency, automate key tasks, produce deeper analysis, and improve auditability. This software has been around since 1999 and is currently used by 700 companies. In addition to private equity firms, the software is used by real estate investment firms, banks, and insurance companies. Training is available via webinars, live online support, and in-person.

Key Features:

  • Benchmarking
  • Fund management
  • Risk management

The features list isn’t long, but this software is more geared toward quickly collecting and validating data and high-value analysis, which is expected to lead to better investment decisions. You can use eFront Front PM on-premise or via the cloud.

The Bottom Line

The best portfolio management software depends on your situation and goals. The right portfolio management software for someone else might not be the best solution for you. Be sure to study each option and gid a little deeper prior to making any purchases. Also strongly consider taking advantage of any available free trials.  (For more, see: How Technology Helps Financial Advisors.)