Best Investing Apps for Portfolio Management of February 2024 – Forbes Advisor

Best Investing Apps for Portfolio Management of February 2024

Barbara A. Friedberg, MS, MBA is a former portfolio manager and university investments instructor. She’s enjoying her dream with publishing credits on US News and World Report, GoBanking Rates, Investopedia, MSN Money, Investor’s Business Daily and more. She helps other learn about personal finance and investing at barbarafriedbergpersonalfinance.com. Her Encyclopedia of Personal Finance is a teaching tool for financial literacy.

Rebecca Baldridge Contributor

Rebecca Baldridge, CFA, is an investment professional and financial writer with over twenty years of experience in the financial services industry. In addition to a decade in banking and brokerage in Moscow, she has worked for Franklin Templeton Asset Management, The Bank of New York, JPMorgan Asset Management and Merrill Lynch Asset Management. She is a founding partner in Quartet Communications, a financial communications and content creation firm.

Barbara Friedberg Contributor

Barbara A. Friedberg, MS, MBA is a former portfolio manager and university investments instructor. She’s enjoying her dream with publishing credits on US News and World Report, GoBanking Rates, Investopedia, MSN Money, Investor’s Business Daily and more. She helps other learn about personal finance and investing at barbarafriedbergpersonalfinance.com. Her Encyclopedia of Personal Finance is a teaching tool for financial literacy.

Rebecca Baldridge Contributor

Rebecca Baldridge, CFA, is an investment professional and financial writer with over twenty years of experience in the financial services industry. In addition to a decade in banking and brokerage in Moscow, she has worked for Franklin Templeton Asset Management, The Bank of New York, JPMorgan Asset Management and Merrill Lynch Asset Management. She is a founding partner in Quartet Communications, a financial communications and content creation firm.

Contributor, Contributor

Michael Adams is lead editor, investing at Forbes Advisor. He’s researched, written about and practiced investing for nearly two decades. As a writer, Michael has covered everything from stocks to cryptocurrency and ETFs for many of the world’s major financial publications, including Kiplinger, U.S. News and World Report, The Motley Fool and more. Michael holds a master’s degree in philosophy from The New School for Social Research and an additional master’s degree in Asian classics from St. John’s College.

Michael Adams is lead editor, investing at Forbes Advisor. He’s researched, written about and practiced investing for nearly two decades. As a writer, Michael has covered everything from stocks to cryptocurrency and ETFs for many of the world’s major financial publications, including Kiplinger, U.S. News and World Report, The Motley Fool and more. Michael holds a master’s degree in philosophy from The New School for Social Research and an additional master’s degree in Asian classics from St. John’s College.

Updated: Feb 1, 2024, 9:24am

Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors’ opinions or evaluations.

Picking the right assets and aligning your allocation with your goals can be tough. An investing app for portfolio management can make that job a lot easier. Countless options are available, from simple free apps to relatively expensive, in-depth analysis tools. In many cases, portfolio management features are just one option among many offered by a platform. There are also a few single-function apps dedicated to managing your investment portfolio.

Forbes Advisor has compiled a selection of the best investing apps for portfolio management. Our list looks at the best options for different types of self-directed investors, from beginners who are just getting started to advanced investors with sophisticated needs.

Why you can trust Forbes Advisor

Our editors are committed to bringing you unbiased ratings and information. Our editorial content is not influenced by advertisers. We use data-driven methodologies to evaluate financial products and companies, so all are measured equally. You can read more about our editorial guidelines and the investing methodology for the ratings below.

  • 30 portfolio management apps reviewed
  • 20 features analyzed
  • 6 apps chosen
  • Best Online Brokerage Accounts
  • Best Investment Apps
  • Best Robo Advisors
  • Best Crypto Exchanges
  • Best Crypto Wallets
  • Choosing A Financial Advisor

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Show Summary

  • Best Portfolio Management Apps of February 2024
  • Empower
  • Simplifi by Quicken
  • Quicken Premier
  • Morningstar Instant X-Ray
  • Ziggma
  • Summary: Best Investment Portfolio Apps
  • Methodology
  • What Is Portfolio Management?
  • What Are Portfolio Management Apps?
  • Key Features of a Portfolio Management App
  • How to Choose a Portfolio Management App
  • Are Portfolio Management Apps Safe?
  • How To Manage Your Investment Portfolio
  • Portfolio Management App FAQs
  • Next up In Investing

Best Portfolio Management Apps of February 2024

Empower

Sophisticated, cost-sensitive investors who need portfolio management tools

On Empower’s Website

Sophisticated, cost-sensitive investors who need portfolio management tools

Why We Picked It

Empower is a robo-advisor tailored to hands-off investors’ needs. The platform also offers free and well-regarded investment portfolio management tools.

You can access Empower’s very well-regarded investment management tools without signing up for the robo-advisor service. The only drawback is that you may need to field a phone call and pitch from an Empower representative, which is a small price to pay to access this valuable resource.

After linking your investment accounts to Empower, the platform aggregates your data and provides a look at your total net worth and an estimate of your home’s value. The software offers multiple reports and analyses and includes banking, investing and planning tools, and each of these categories offers multiple reports.

The investing category provides you with a view of your total holdings across all linked accounts, sector weighting of the holdings, performance statistics, asset allocation and more.

Empower’s retirement fee analyzer calculates your overall expense ratio across all your investments. It then shows you the number of fees you’ll pay over time and the effect they will have on your portfolio returns.

The planning category includes savings information, a fee analyzer, an investment check and a superb retirement planner. There is also an excellent retirement tool that lets you test drive various saving and spending scenarios.

Simplifi by Quicken

$3.99 per month (one-month free trial)

Beginning investors with modest portfolios

On Quicken’s Website

$3.99 per month (one-month free trial)

Beginning investors with modest portfolios

Why We Picked It

Simplifi is a recent addition to Quicken’s lineup of money management tools. It’s billed as an easy-to-use budgeting and personal finance app and includes basic portfolio management features.

Users link their financial accounts to Simplifi, plugging in checking and savings accounts, credit cards, loans and investment accounts. Simplifi then provides a holistic view of your financial situation and offers guidance and suggestions for improvements.

When you connect investment accounts to Simplifi—IRAs, 401(k)s and brokerage accounts—you get a unified view of your total investment portfolio balance across all linked accounts.

The app gives you a dashboard view of how the total balance and each individual balance have changed over time. You also get a complete list of holdings across your accounts and a news feed for all the stocks you own.

You can filter by just retirement accounts, taxable brokerage accounts, or any combination of individual accounts you prefer. The dashboard provides a clean interface, and the customizable investment tracking chart shows various views of investment growth by account and an aggregate view.

Simplifi is not free, but fees are reasonable and there is a phone and chat customer service. A one-month free trial allows you to try out the app before buying. Consider the free Mint app if you’re a new investor who’s not ready to pay for these tools.

Quicken Premier

$6.99 per month (other service tiers charge higher or lower fees)

Experienced investors who want an in-depth investment management app

On Quicken’s Website

$6.99 per month (other service tiers charge higher or lower fees)

Experienced investors who want an in-depth investment management app

Why We Picked It

Quicken is a comprehensive budgeting and financial planning platform that’s been around for decades. Among many other features, it offers great tools for tracking your investments, making it the best choice for experienced investors looking for a complete portfolio management solution.

Quicken offers four service tiers: Starter, Deluxe, Home and Business, and Premier—the latter is best for investment portfolio tracking.

Users link their financial and investment accounts to the Quicken platform, from IRAs to 401(k) accounts to taxable brokerage accounts. The platform gives you a unified view of your total investment portfolio across accounts, lets you set asset allocation goals, compares your actual allocation to goals, and compares your portfolio’s performance to common benchmarks. You can review the asset allocation at the portfolio, account level, or individual security.

You can track investment opportunities and create stock watch lists. There is a top-notch retirement planner, investment activity reports, performance data and buy/sell previews. Nearly all features are customizable.

There are nine investment reports, highlighting asset allocation, income generation, total performance and portfolio value versus cost.

Quicken Premier integrates directly with Morningstar’s Instant X-Ray tool, which we discuss above. The direct integration is helpful, as with Quicken, and there’s no need to enter your mutual fund holdings into Morningstar’s tool manually.

Morningstar Instant X-Ray

Free for one portfolio; $34.95 per month or $249 per year (seven-day free trial) for multiple portfolios

Mutual fund investors who need portfolio analysis

Free for one portfolio; $34.95 per month or $249 per year (seven-day free trial) for multiple portfolios

Mutual fund investors who need portfolio analysis

Why We Picked It

Morningstar is a top-shelf name in investment research, widely respected for its mutual fund rankings. The company’s premier product, Morningstar Investor, offers in-depth data access and research tools for stocks and funds.

Instant X-Ray is a one-of-a-kind feature of the Morningstar platform that can provide a comprehensive, in-depth analysis of a mutual fund portfolio, like the one you most likely own in your 401(k) account. Users with a paid Morningstar Investor account can save multiple Instant X-Ray portfolios, and a free version lets you analyze one portfolio.

Users enter each mutual fund in a portfolio into the Instant X-Ray tool. It then creates a report—here is a sample version—that shows you the various assets owned inside of each fund in your portfolio, plus a look at your cross-fund asset allocation, sector weightings, geographic distribution, and expense ratio fee.

The report helpfully shows you where you have asset overlap among different funds. It gives you valuation ratios and compares them with appropriate benchmarks, providing a picture of how your mutual fund investments compare to an ideal portfolio.

All in all, Morningstar’s Instant X-Ray can help you determine if your mutual fund portfolio is well-diversified or not and understand if the holdings owned inside the funds in your portfolio are suitable for your investing goals.

Most retirement investors who want insight into their current 401(k) account should be fine with the one-portfolio free version of Instant X-Ray.

Professionals who want to track multiple mutual fund portfolios should look at paying for a Morningstar subscription. This also gives you access to a wide range of research resources and other features, such as screeners, watchlists and net worth tracking.

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