Ultimately, these programs can help propel an individual investor toward their financial goals.
In this issue’s comparison, I dissect four portfolio management software programs: Fund Manager 2016, Investment Account Manager 3.0, Quicken Premier 2016 and Personal Portfolio Manager 7.
Fortunately, it is quite simple to download a demo of these three programs; unfortunately, Quicken Premier 2016 does not offer a demo or trial version of its software.
When you are evaluating the scope of securities a prospective program accommodates, consider not only the types of securities or assets you currently hold, but also potential securities or assets you may want to purchase down the line.
All programs feature the basic security classes such as stocks, bonds, mutual funds and exchange-traded funds (ETFs).
When it comes to other securities like derivatives, you need to pay close attention to what each program has to offer.
Perhaps most important is the bottom line: Since the programs come at a cost, unlike most online portfolio trackers, it is essential to select the most appropriate one for your investing needs.
Fortunately, with ongoing technological advancements, portfolio management software programs have continued to improve, and they increasingly give investors more power to easily track their investment portfolios.
Above all else, portfolio management software programs provide the consolidation that is crucial when handling multiple accounts.
If, for example, you invest heavily in real estate, all you have to do is check the comparison grid and see which companies handle that particular asset.
Your choices will dwindle from there and make the decision process a lot less complicated.For starters, Table 1 shows the system requirements, cost and contact information for each program. Beyond the monetary cost, consider the time you will need to spend learning how to use the program.