The 5 Best Investment Tracking Apps

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Publish date September 17, 2020 Comments: 39

We’ve reviewed several investment tracking apps. There are many free apps, but most offer only minimal investment-related services. We’ve zeroed in on what we believe to be the five best investment tracking apps. In our opinion, the top app is Personal Capital. It offers tools and features with the most tangible benefits for the largest number of investors. The app is also highly regarded in many other online evaluations.

The average return on the broad stock market–measured by the S&P 500–has been about 10% for the past 90 years. It’s highly likely very few individual investors are matching that average return. A big part of the problem is difficulty in managing multiple investment accounts.

If you’re like most investors, you probably have a taxable brokerage account or two, a mutual fund or two, an IRA, a current 401(k) plan, and maybe one or two 401(k) plans you haven’t gotten around to doing anything with.

With that type of “portfolio,” your money is sitting in several different “cookie jars.” While it may be possible to track what’s going on in each account individually, it’s a real nightmare getting a handle on the big picture. Investment tracking apps can help you track several investment accounts on a day-to-day basis. That’s the only way you’ll know how your investments are performing, and where you may need to make changes to improve that outcome.

At-A-Glance

  • Best app for investment analysis: Personal Capital
  • Best for serious investors: Morningstar (with Personal Capital a close second!)
  • Best for casual investors, more interested in general financial management: Money Patrol
  • Best for ongoing portfolio management: Personal Capital
  • Best for customer support: SigFig

Our Investment Tracking Top Pick: Personal Capital

Though it was close, Personal Capital comes up as the winner. It’s probably the world’s largest investment tracking app.

Personal Capital allows you to grow from a small investor, using their free tools, to a more experienced investor with the ability to shift over to a managed portfolio option. Having a professional financial advisor, a real person, guide you on your investment journey is invaluable.

Our Investment Tracking Runner-up: Money Patrol

This really was a close evaluation. Personal Capital may have come out on top, but only by a nose. Our choice for runner-up is Money Patrol and it comes with a number of first-class investment tools and features including:

  • Automatically track accounts from more than 15,000 different financial institutions
  • Perform real-time tracking, not just of the investments you hold in your portfolio, but also of any hidden fees or suspicious activites.
  • Easy to use financial dashboard that allows you to understand your finances at a glance.

Our Selection Methodology

We used the following methodology to determine what we believe to be the five best investment tracking apps:

  • Number of investment tools available on each app
  • Relevancy of the tools and features provided
  • Investment assistance provided, short of using a paid management service
  • Cost of the app
  • Availability of additional services, including direct portfolio management, budgeting, or overall financial management
  • Reviews by third parties

The 5 Best Investment Tracking Apps

1. Personal Capital

Personal Capital can be counted as the most popular investment tracking app. It has 1.6 million registered users, tracking $500 billion in assets. Much like other competitors (SigFig for instance), they also have an asset management component, but they offer plenty of free investment services, even if you don’t take advantage of the premium service.

Some of the services they offer for free include:

401(k) Fee Analyzer

This tool analyzes your 401(k) plan(s) and determines the level of fees you’re actually paying. This is an important tool, since employer-sponsored plans often have fees that are not entirely obvious to the plan holder. Not only does it show you the fees, but also how much you’re losing to those fees.

The fee analyzer can point you to less expensive investment options within your plan. But it might also be a signal that you’ll need to diversify your savings beyond your 401(k). That could mean opening an IRA, or even a taxable brokerage account, either with lower fees.

Investment Checkup

You enter your various investment accounts, and this tool will give you an evaluation of where you’re at. That will include portfolio target recommendations, rebalancing suggestions, and a determination of the risk level in your portfolio.

Retirement Calculator

This tool calculates your expected monthly retirement income, including projected Social Security income. In case you feel like having a second opinion regarding your financial stance, you always have the option to take advantage of the premium investment management service.

If you wish to learn more about the advanced features, read our extensive Personal Capital review.

Claim your free subscription today and start controlling your investments and finance.

2. Money Patrol

Money Patrol is a newer investment tracking app but is already quite robust in what it offers. It combines investment tracking and budgeting.

The app supports more than 15,000 different financial institutions in the US and Canada – so unless you use a really obscure bank account, you’ll be able to link all your accounts. On top of normal bank accounts, credit unions, investments, and mortgages, you can even link things like your utility bills and gift cards.

Once you link your account, you’ll be able to see transactions in real-time. Plus, Money Patrol will send you insights and alerts, helping you to better understand what’s happening with your money. You’ll set up your budget in Money Patrol, helping you keep your finances on target. When you have extra cash, Money Patrol will let you know so that you can put that into one of your investment accounts.

The visual dashboard gives you an instant oversight of your finances. The charts and graphs really help you dig into what’s happening with your money, which is especially helpful if you have numerous investment accounts.

You can try Money Patrol out for free for 15 days. After that, it costs $59.99 a year.

3. SigFig Portfolio Tracker

SigFig is primarily a robo-advisor platform, providing automated portfolio construction and management. But they also offer their Portfolio Tracker tool. It’s free to use, even if you don’t subscribe to the robo-advisor itself.

The Portfolio Tracker provides weekly email summaries on the performance of your investments. It also breaks down the week’s top movers, the latest portfolio news, and provides a graphic on how well your portfolio is performing. The service is being used by more than 750,000 investors to track over $300 billion in investments.

More than anything else, the tracker offers a high altitude picture of your investments. It doesn’t actively manage your portfolio, or make investment suggestions. It gives you an opportunity to view your various investment holdings on a single app.

When you subscribe to the Portfolio Tracker, you also get use of the following services:

Investment Account Sync

You can sync various brokerage accounts in the app. SigFig can sync accounts for more than 80 brokerage firms. That includes brokerage, retirement, and advisor accounts. You can enter the information either automatically or manually, giving you a holistic view of your entire investment life.

Real-Time Market Tracking

SigFig provides up-to-the-minute stock market quotes, news and commentary from over 500 sources.

External Analysis

This service enables you to find hidden fees in your portfolio, as well as determine if you might be overexposed to a single stock or industry. It will also alert you if you are taking too much or too little risk in your portfolio.

The Portfolio Tracker offers phone and live chat support. That’s not something you find in most free apps.

And of course, one big advantage with SigFig is if you decide you need investment management help, you can always opt to upgrade to the robo-advisor service itself.

4. Morningstar

Morningstar has one of the most comprehensive investment apps available. You can set up an online portfolio, and also get access to ratings on both stocks and funds.

It has a feature called “Portfolio X-Ray”, that shows you what your actual holdings are. That is, they provide you with the breakdown of the individual stocks held within that fund. For example, if a fund is holding 100 stocks, the tool will show you what those stocks are, and the dollar amount that each represents in your fund position.

This ability can be more important than it seems at first glance. If you hold several funds, you should want to know if there’s a duplication of stock holdings within those funds. For example, you may find that seven of 10 funds you’re invested in have substantial positions in the FAANG stocks – Facebook, Apple, Amazon, Netflix and Google. That awareness may cause you to change some of the funds you’re holding, to avoid being too heavily concentrated in a small number of stocks, regardless of how successful those stocks may be. It may also be a way of discovering that you’re not quite as diversified as you believe.

When you’re a subscriber to Morningstar you also get various support services. For example, you can get The Morningstar Guide to Mutual Fund Investing, or The Fund Investor Online. Morningstar has a wealth of services.

Morningstar also has a subscription fee. It’s $145 per year for the Morningstar Fund Investor Newsletter, or for the Morningstar Stock Investor.

5. Mint.com

Mint is well known as a budgeting software, and it’s one of the most popular budgeting apps available. That’s not the least of which because the services easy to use, and also completely free.

But if you’re primarily looking for a budgeting app, that also provides some measure of investment tracking, then Mint can get the job done.

You enter your accounts into the app, including taxable brokerage accounts, mutual funds, IRAs and 401(k) plans. The app will measure the performance of each account against various market benchmarks, letting you know where you stand.

The app also determines fees from your various accounts, including those charged by investment advisors. They’ll let you know how those fees will affect the long-term growth of your investments. They’ll also help you to see any that are unnecessary, helping you to reduce those fees wherever possible.

Mint will also provide you with the tools to help you manage your portfolio, though it’s not a particularly deep selection.

But if you want some level of investment tracking, along with budgeting, bill paying capability, account alerts, and even your free credit score, Mint is worth a close look.

Factors to Consider Before Choosing An App

What Works Best for You?

Though we’ve organized what we believe to be the five best investment tracking apps, investing is a highly personalized activity. You have to select the app that has the best tools and features for you.

Know Your Own Investment Style

If you’re an active trader, it may be worth paying an annual or monthly fee for a comprehensive investment tracking app. But if you’re more passive, a simple, free version will get the job done.

Too Many Features Can Do More Harm Than Good

If you have a relatively simple portfolio, and you don’t need a lot of tools, go for the apps that don’t have as many. Too many tools can confuse more than inform.

Do You Need a Pure Investment Tracking App or a Hybrid App

If you’re a serious investor, with a large, active portfolio, you’ll probably want to go with a pure investment tracking app. That will eliminate some of the “clutter” that results from additional services. On the other hand, if you’re comfortable combining services, like budgeting, a hybrid app will work well. In addition, if your portfolio is small and not particularly active, the hybrid app may work just fine for your needs.

Final Thoughts

If you only have one or two investment accounts, say a taxable brokerage account and an employer-sponsored 401(k) plan, you may not have any need for a dedicated investment tracking app. This is particularly true if the account where your investments are being held provides similar tools and features.

But if you have three or more accounts, it can be very difficult to organize and track your investments in multiple locations. Perhaps the biggest advantage of investment tracking apps is their ability to take a diverse set of accounts, and convert it into a single comprehensive portfolio. That will enable you to make intelligent, long-term investment decisions, that will maximize the return on your investments.

Article comments

39 comments
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Peter says:

Good write up. I personally use Sharesight.com. It’s a fantastic portfolio tracking tool – great visualizations and also tracks down every dividend. As a dividend income investor, I find the most useful investment tracking tool.

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Anne Lindsay says:

The problem I find with this type of hardware is the lack of financial institutions that will link and update successfully. How do you check that the software will work, before giving out all your personal banking information? I’m Canadian, and I want to have features that work for my situation (401K isn’t applicable) Cloud storage in another country isn’t comfortable for me either

Mark Dover says:

Another important point for me is where the account information is stored. I do not want my info/passwords to be stored in any cloud no matter how high the cloud is. I barely trust my own computer. So I do not want to find out a year later that the site has been compromised and that all the data that was stored on that site is now in the public domain. So you should add how safe the various options are.

Barbara Stainman says:

I totally agree. Not sure why this wasn’t discussed.

Scott K. says:

It’s going to be difficult, if not impossible to find a service that is not using cloud data storage. Your concern should not be “how high the cloud is”, rather it’s important to concern yourself with the services encryption protocol. Provided that secure encryption is being used, it doesn’t matter that your data is stored on a cloud… Nobody but you can access it so long as you are using end to end encryption. This is something you should research on your own, I’ll not make a recommendation.

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Another problem with Sigfig is that you have to invest with one of the three partner brokers, TD Ameritrade, Fidelity, or Charles Schwab. However, the Sigfig robo advisor even creates recommended portfolio and manages it for you. Sigfig fees are also some of the lowest in the industry and it’s absolutely free for the first $10,000 worth of investments.

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Robert Sachs says:

Sigfig is having on-going problems with several brokers. After years of being able to access Merrill Lynch and Schwab, that is no longer possible. They have tried a workaround with Schwab whereby you need to turn on “third party access.” I believe other brokerages are similarly affected. Merrill Lynch has been unavailable within Sigfig for some months and their customer service continues to say they are working on it. As it stands now, for me, Sigfig is useless

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