Do you want to analyse returns on your investment, asset allocation, plan for retirement and more? Well, a portfolio management software can do all your personal finances task in a very easy way.
You need to keep an eye on all your asset class like stocks, mutual funds, insurance, bonds and others. Moreover, you have multiple bank accounts and also need to manage different types of investment.
It will be really tough and frustrating for you to maintain all. That’s why using portfolio management software makes your life better.
With the help of wealth management software, you can easily track your portfolio. Moreover, it also lets you keep a hawk-eye on every movement and allows you to stay on top of your personal finances.
You may also find lots of web-based investment management software online. All you need is to connect your accounts to an online portfolio tool.
Portfolio management software allows you to extract different sets of reports as per your needs. You can easily operate this software by just importing historical transactions.
Moreover, you also need to connect your portfolio management software to the internet. It collects all the data automatically when connected online.
Once connected, you may be able to retrieve in-depth reports. Furthermore, portfolio management software is user-friendly and supports all your investment class.
Here are 10 ways portfolio management software lets you make an informed decision.
Maintain and Track Multiple Asset Class
You can manage all your investment class like stocks, mutual funds, bonds, insurance, PPF and more. Apart from your own account, you can also track your client’s investment returns.
Manage Multiple Portfolios
Wealth management software allows you to manage multiple portfolios and group portfolios. You can then track them on the web and on mobile.
If you’re an advisor, then you can manage your client’s portfolios. Moreover, your clients can also track their own investment portfolios on the web and mobile.
Import Transaction Data
Investment management software lets you import stocks and F&O digital contract notes. Apart from that, you can also upload mutual funds and other files.
It lets you upload bank statements from your bank accounts. Furthermore, it also supports different file formats for import and that may include Excel, CSV, PDF, HTML, or text.
Track Your Portfolios Wherever
You can access your portfolios wherever you want with any device. It lets you view your investment performance on the web or any mobile devices.
Compute Capital Gains Tax
Wealth management software is so robust that you can also view your capital gains tax. Apart from intraday gains, you can also view short-term and long-term capital gains tax as well.
Moreover, you can also get unrealised capital gains before you sell any asset. It doesn’t matter which asset class you are investing in. Whether it is stocks, bonds, mutual funds, bonds or any other.
Automate Investment-Based Accounting
With the help of investment management software, you can easily automate all your investment accounting process. It lets you import bank statements and also link back PMS to your accounting module.
It automatically generates vouchers and ledgers from stocks, mutual funds, and other transaction. Even, it generates a Balance Sheet, Trial Balance, and P/L statements.
These reports help you to quickly analyse your profit and loss that lets you file your income tax at ease.
Real-Time Management of Your F&O Positions
You can easily manage your equity, commodity, and currency F&O positions. Furthermore, portfolio management software lets you import your transactions from the digital contract note.
It allows you to create and manage MTM records for all your F&O positions to match your ledger with your broker’s ledger.
Even you can generate real-time reports and view F&O summary, P/L, transactions, and turnover reports.
Get Up-dated Live Valuations For Your Portfolios
You’ll receive live and updated valuations for your portfolios in equity, F&O, and other investments products.
It provides you daily NAV value for mutual funds and updated price for bonds. Moreover, you can also view historical end-of-month data.
View Advanced Insights
It also lets you view annualised return reports for any of your asset or portfolio. You can also view your portfolio performance over time with historical valuation reports.
Moreover, this software provides you with advanced stock register, holding period, and closing balance report.
Allows Your Clients to View Their Own Portfolios
You can also use portfolio management tools for your clients to view their own portfolio using unique login credential.
Your clients can track how their investment is doing and they can also access their asset allocation dashboard.
So, if you feel like your investment-related information is scattered then it is better to use portfolio management software.
It lets you organize and help you to make an informed decision.
I hope you may get some kind of insights into how investment management tools work.
In case you are already using any wealth management tool, then do share your views in the comment section.
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Published on: July 31, 2019