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Using Investing Apps to Manage Your Portfolio

Barbara Friedberg

App-based investing has become so popular — it’s no secret that you can manage your investments with an app. But can the small screen of a phone or tablet ever be a match for the easy-to-view laptop or desktop computer?

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In reality, if a firm doesn’t offer an excellent app, then it will likely have difficulty competing with those companies that prioritize ease of access with their apps.

These days you don’t need more than your phone to set up an investment account and manage your portfolio.

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Many investment companies have apps. But all apps aren’t created equal, and some are easier to use and more consumer friendly. Then there are the free investment management apps and others that require a fee.

Following are a few investment apps with solid reviews and free portfolio management software.

Which Investment Apps Have Good Reviews?

Quicken

The free Quicken mobile app is a companion to the computer-based Quicken investment and financial management platform. Launched in 1991, this is one of the grandfathers of financial management. Quicken enables users to manage their investments, although not buy and sell, through the app.

This app is not a standalone, but once your computer-based financial management system is set up on the Quicken platform, you can use the app on the go.

With a 4.6 rating, out of 3,500 reviews, this app offers a lot for those seeking a comprehensive money app.

Personal Capital

The free Personal Capital financial management tools are so popular that the company claims more than 2 million users. The Personal Capital investment tracker is a close second to Quicken’s paid product. After uploading your financial data you can access a multitude of reports and information including: net worth and account balances, budgeting help and investment check-ups. Personal Capital’s retirement planner and fee analyzer both stand up well to other paid apps.

This company also offers paid investment management services, but anyone can download the free app to manage their investments.

SigFig Wealth Management

SigFig is a robo-advisor with a free online portfolio tracker. With a “freemium” model, similar to Personal Capital, it offers many useful investment management features. With the free SigFig app, users can monitor their investments, asset allocation, fundamentals and returns.

The SigFig Wealth Management app received strong reviews and the company promises to keep the app free. Like Personal Capital, SigFig also offers a paid investment management service.

More About Mint

Run by Intuit (NASDAQ:INTU), the same firm that owns Quicken, Mint is known for a money management web-based platform. Appropriate for small investors, newbies to financial management might appreciate the Mint app. The app is great for income and expense tracking as well as budgeting.

In the Mint against Quicken app competition, the Quicken app wins for sophisticated investors. But on Mint, investors can compare their portfolio to market benchmarks and view asset allocations across all accounts. The app offers tips and advice for both active and passive investors and a sound tool for beginning and intermediate users.

The Bottom Line on Investing Apps

There are many investment apps that can help manage your investments on the go. Additionally, each investment brokerage company also offers their own apps. So if you have investments through Charles Schwab (NYSE:SCHW) or Fidelity, their apps will enable you to manage just your holdings holdings at the respective firm. Unfortunately, these apps won’t provide a holistic view of your investments across a realm of accounts.

Although you can manage your investments with an app, you may not want to.

Once your investment portfolio becomes more sizable, managing your holdings on a phone or tablet may be insufficient. The benefit of a larger screen and the privacy of secure internet in your residence might be preferable to managing your investments with an app.

Ultimately, the convenience of investing apps is handy. Only you can decide whether to handle a large portfolio on the fly.

As of this writing, Barbara Friedberg did not hold any of the aforementioned securities. 

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