As your wealth grows, you would think your financial confidence would automatically increase along with it. However, many successful people find that they often feel uncertain about the day to day management of their increasing asset portfolio. How can you keep on top of everything and make sure your money is invested effectively? Using an investment portfolio tracker may be the tool you need to regain control and make better decisions.

What Can an Investment Portfolio Tracker Do For You?

There’s nothing simple about managing your wealth in today’s rapidly changing landscape. First, there’s a lot to consider with rising inflation, low interest rates, high asset prices and record government debt. Then, as you add more accounts and complexity, it can be challenging to see the big picture and consider how changes in the market will impact your financial plan.

If you’re like most investors, you probably own a collection of real estate, stocks, retirement accounts, checking and saving accounts, bonds, or certificates of deposits. In addition, you may also have private equity, venture capital, or cryptocurrency investments. That’s a lot to manage.

Statements Everywhere…But No Real Answers

Account statements are a source of information but can’t do everything. For one, a static snapshot cannot help you monitor warning signals that one of your holdings may require your attention. It’s also difficult to see if you may have some overlap in portfolios accounts, resulting in your wealth getting overly concentrated in certain areas. And if you’re like me, you might have even lost track of an account or two in the past. There’s just too much information, and paper or pdf files can only do so much.

When your assets reach a more substantial level, there’s too much at stake. You want all of your money to be managed properly and working for you. If you don’t recognize problems early enough in your portfolio, you could end up losing more than you need to. The longer that goes on, the more costly it can become. In the meantime, you’re also losing out on other opportunities.

Respond Quickly to Opportunities and Market Changes

The ability to act quickly on a new opportunity or market changes is also critical. That’s difficult to do in a disciplined manner if you don’t have clarity on what you already own.

In today’s fast-paced markets, things happen more quickly than ever. Being able to act with speed can be an advantage, and you can do that when you are organized and in control.

Protecting Loved Ones

There’s another critical reason to keep your asset information centralized in one easy-to-monitor platform. That’s in case of your death or disability. If you don’t prepare in advance, that can leave your loved ones with the difficult task of tracking down all of your assets.

By monitoring everything in one place, you make it easy for those you leave behind, saving time and emotional stress when people are least able to deal with it.

How an Investment Portfolio Tracker Brings Clarity

An investment portfolio tracker can help you get and stay organized, so you can more effectively monitor all of your holdings. What exactly is a portfolio investment tracker? Basically, it is an online platform that helps you keep track of all of your investments. These programs use bank-level security to automatically load, update and maintain information about your holdings. Once in an automated form, you can easily manage the data and get the big picture view you need. In other words, it provides you with information about your overall financial situation and where things stand at any given time.

Won’t a Simple Spreadsheet Do the Work?

I love spreadsheets as much as the next person. But when dealing with a diversified portfolio and the desire to have multiple views on your wealth, it can become a significant project. It could take hours to design a spreadsheet with the sorting and filtering you need to manage a more complex portfolio. Most casual users don’t have the time or knowledge to create such a complicated model.

Plus, you’ll probably want more information such as up-to-date market values, a real time snapshot of your investments and easy access to historical performance.

Importance of a Data-Driven Approach

We all know emotions and money don’t mix. However, we’re often busy and make expensive mistakes when we don’t have the facts in front of us. Then, it’s too easy to make an emotionally-driven move. This is where a portfolio tracker excels: you have a clear big picture view, which helps you approach your investments with discipline. Using this tool, it is much easier to adopt a data-driven approach. This is an essential step toward better decisions, fewer mistakes, and achieving your goals faster.

Bottom line… .there are many investment portfolio tracking programs out there, and most are very good at what they do. But once you reach a certain level, those cannot always help you adequately manage a more diverse portfolio.

Looking for More Clarity in your Financial Life?

Claritus is a portfolio tracking platform that can help you make better decisions and feel more confident about your money.

We help you gain other critical insights into your investments. We’ve added wealth analytics that help you do more:

  • Our Smart View helps you see the trend in any investment over time
  • You can define the specific time frame you’d like to view
  • Our Grouping capabilities lets you aggregate data from several investments, and create any custom groups you desire

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