Check Global Deposit Rates

How To Keep Track of Investments
on Multiple Bank Accounts?

With current events happening around the world there has been a shift in the way people think about what to do with their finances. Technology and the internet have become a major part of people’s day to day life. Financial technology also known as Fintech has become one the fastest growing industries in the world ranging from banking, investments, retail transactions, internet and mobile banking to financial solutions etc. Investors looking to grow their wealth have a range of investments in multiple banks, lifestyle assets, trading platforms etc.

The core focus of investors is to always make money at the maximum profit achievable to meet immediate short-term and long-term goals.

While using various forms of investments to secure your money and future is the best way to meet your financial goals, keeping track of your investments and savings is a daunting task.

The key to making the best of your monetary gains is to know when and how to invest your money. There are various options available to the scrupulous investor who can invest in

      Cash accounts       Equities       Fixed Income Products
      Commodities       Mutual Fund       Bank Deposits
      Structured products       Insurance       Cryptocurrencies

The Hurdle We Face with Multiple Statements!

With increasing dependence on technology and lifestyle changes, there has been a shift from paper to platform applications.Gone are the days of setting up appointments with your wealth managers for the basic requirement of information or statements to be shared with you. With the advancements made in Fintech, now you can rely completely on your mobile applications to get all the information you require on the go.

Most investors do not have the time to go through different statements of their multiple investments made locally or internationally. It does become challenging to keep track of your investments and doesn’t give you a clear picture of how your profile is performing. This results in investors not understanding where and how their investments have unrealized gains or losses.

In short, although banks provide statements at regular intervals, managing investments from various locations could be a hassle, and you could end up losing the opportunity to book your profits or minimize your losses based on the market movements. With help of a consolidation platform, you can make informed decisions and never miss an opportunity during market tides.

Track Statements from All Banks with Ease

Thankfully, there are several ways to track your finances and provide updates so that you can manage all of your investments in the comfort of your home or office. There are a few ways in which you can keep track of all your investments by keeping them in one place.

Microsoft Excel

Spreadsheets have been a time-tested way to keep track of multiple portfolios. Keeping track of your investments using a spreadsheet is particularly easy if you have just begun your journey into the world of investments. You can have a separate sheet for each bank account, and manually enter the details you require.

The main drawback of using a spreadsheet is that you will have to keep updating the numbers, and you could lose your data unless it’s stored in a cloud. Also, deletions and inclusions could prove confusing and there is room for error.

Google Sheets

Online spreadsheets not only help you to collaborate your data, but they also provide access from other devices such as your smartphones or any other device provided you have your login details. You will get the advantage of cloud storage; however, the deletions and inclusions of data are always a possibility. This is a buy product with any manual software.

Numbers

This is another application that helps you build spreadsheets on your computer, tablet or smartphone, and provides you unlimited access across these devices. As with other spreadsheets, you will have to enter your data manually and create graphs and charts.

These apps also provide a login so that you can use your laptop or desktop to keep a better eye on your investments and get a comprehensive idea.

Online tracking apps

For the tech-savvy investor, whether a large or small amount of your funds have been invested in various assets, keeping track of all the investment portfolios in one place is highly important. There are various applications, such as Wealthbrain, that helps you consolidate, track and analyze your portfolio in a single platform.

These tracking applications are gaining popularity because of the following reasons:

  • Consolidation of all yourinvestment portfolios
  • Access to all your portfolio statements
  • Update on your investments’ value
  • Insight about asset allocation

Tracking Apps- The Future of Finance Is Here!

Keeping track of your investments has never been easier. It happens with a single touch on your smartphone or your computer.With a secure login and multiple access, you can link all your bank accounts or upload your bank statements to the application.

Notifications from the apps will keep you updated about the portfolio valuations, the latest trends in the stock market, renewal dates, and other important news that could help you not only invest better but also make informed decisions.

Consolidation platforms allows you to manage and track your funds by giving you accurate data of your investments, transactions and reports. You can track the performance of your assets, you can compare banks and see which one is performing against the other, check your lifestyle asset performance, etc.

Furthermore, these applications help you track your accounts in different countries, making it easier to access offshore investments as well.

Customizable charts and graphs or pictorial representations of your investment portfolios make it easier to monitor the state of affairs even when you are hard-pressed for time. You could also keep track of your investment behavior with these charts, learning where you invest the most. This could help you rebalance your investment portfolios by investing more in areas that give you better dividends or returns.

With so many features, it is no wonder that smart investors are moving in the right direction- towards using an online investment tracking app such as Wealthbrainto keep track of all their investment portfolios owing to the ease of access and how all the information is consolidated in one secure place.