SHARESIGHT REVIEW
A PORTFOLIO TRACKER BUILT FOR YOU
OK so you’ve bought your first shares. What now? Maybe you’ve started receiving dividends? How does your portfolio compare to a broader market? What’s a corporate action and how do you create a record? What does your accountant need to give to the ATO?
Many people use a spreadsheet to track their portfolio. I’ve personally used Microsoft Money Sunset for many years. It’s no longer supported by Microsoft but you can still use if you don’t mind the old school interface, going through the hassle of downloading and installing software, and using a clunky backup routine.
But let’s face it – everything fun is in The Cloud these days. And Sharesight is definitely cloud and cool.
WHY DO WE NEED A PORTFOLIO TRACKING TOOL?
- so you don't have to manually track your portfolio
- you can record dividends received and
- keep track of taxable transactions
You can do all of those things yourself, but it takes a lot of time and effort, and it’s easy to get things wrong.
Have a listen to some podcast episodes about Sharesight and hear the voices behind the service. This is Sharesight's Chief Marketing Officer Prashant Mohan explaining how he tries to explain corporate actions to his 11 year old. This is CEO Doug Morris explaining how having a portfolio tracker can actually help your investing.
What's Sharesight All About?
Sharesight, born in Wellington, is your go-to portfolio management software. It's designed to streamline your investment reporting and make your financial life much easier. With Sharesight, you can import your trading history, and it automatically handles corporate actions such as dividends, Dividend Reinvestment Plans (DRPs), and stock splits. Say goodbye to tax-time headaches! Plus, you can effortlessly share your portfolio and tax reports with your accountant.
How Does it Work?
When you sign up, you can input your holdings by connecting the platform to your broker, uploading a spreadsheet, or manually entering your trading history. Sharesight then weaves together share prices, currency effects, and corporate actions, all the way back up to 20 years. It's like having a virtual investment assistant!
Dividend Reinvestment Plans
DRPs or DRiPs can become confusing over time. It's difficult to keep track of the number of shares you own, the average purchase price, and the number you have when it comes time to sell.
Not just shares
But wait, there's more! Sharesight isn't just about stocks. It also tracks ETFs, LICs, bonds, managed funds, and even alternative investments like cryptocurrencies and real estate. So, no matter what you're investing in, Sharesight has your back.
Try Sharesight for free
If you're just starting out with one portfolio and up to 10 holdings, you can dip your toes into Sharesight for free. This plan gives you access to a community forum, price alerts, and some reporting tools. If you're ready to level up, there are paid plans too. For up to 30 holdings, it's $19/month*. Need more? The Investor Plan ($29/month*) and Expert Plan ($49/month*) offer advanced features, benchmarking, and integration options.
*AUD per month billed annually.
Sharesight provides a clear and accurate picture of an investor's portfolio performance, which is essential for making informed investment decisions. By tracking all of the important data such as dividends and share splits, Sharesight ensures that investors have an accurate view of their portfolio's performance, which is critical for making informed decisions about their investments.
Sharesight's advanced features such as benchmarking and custom reporting allow investors to analyze their portfolio in greater detail and make more informed decisions about their investments. The Sharesight community forum is a great resource for learning how to use the platform effectively and getting tips and advice from other investors.
Sharesight is a valuable tool for any investor who wants to gain a better understanding of their portfolio performance and make more informed investment decisions.
SIGN UP HERE FOR 4 MONTHS FREE ON AN ANNUAL PREMIUM PLAN
- Track the price and performance of all of your investments in one place. Calculate returns inclusive of dividends, currency fluctuations and more with reports built for investors like you.
- Benchmark your portfolio against any share, ETF or managed fund in Sharesight’s database.
- Watch as corporate actions such as dividends, DRPs and share splits are automatically updated in your portfolio.
- Share your portfolio and tax reports with your accountant and save time, money and hassle during tax season.
CLAIM YOUR 4 MONTHS FREE ON AN ANNUAL PREMIUM PLAN
SHARESIGHT PROS AND CONS
- Comprehensive: Sharesight is a comprehensive portfolio tracker that allows investors to keep track of their holdings across multiple brokerages, asset classes, and currencies. This is important because investors often have multiple investments in different locations, and it can be difficult to keep track of them all.
- Accurate: Sharesight uses up-to-date market data to ensure that all transactions are recorded accurately. This includes dividends, share splits, and other corporate actions. This is important because it ensures that investors have an accurate picture of their investment performance and tax obligations.
- Tax reporting: Sharesight provides investors with detailed tax reports that are compliant with local tax laws. This makes tax time a breeze and helps investors to minimize their tax liabilities.
- Automated: Sharesight automates many of the tedious tasks associated with portfolio management, such as data entry and reconciliation. This allows investors to focus on more important things, such as making investment decisions.
- Customer support: Sharesight has a responsive and helpful customer support team that is available to answer any questions or concerns that investors may have.
Cons:
- Cost: Sharesight is not a free service. While there is a free plan, it is limited in terms of the number of holdings that can be tracked. Investors with larger portfolios will need to upgrade to a paid plan.
- Learning curve: It takes some time to get familiar with the platform and to understand how to use all of its features.
- Limited integrations: While Sharesight integrates with many popular brokerages, it does not integrate with all of them.
- There is no mobile app.
- Can be difficult when first setting up
Overall, I would highly recommend Sharesight to any DIY investor who wants to keep track of their portfolio performance and tax obligations. Sharesight is accurate, comprehensive, and easy to use, and it can save investors a lot of time and money in the long run.
Learn more about Sharesight and how it can help you track your portfolio and help you to become a better investor.
In the interests of transparency
I receive a commission on subscriptions to Sharesight. This helps me to continue my work educating newcomers to the share market. You will receive a discount by using these links/coupon codes. I only recommend products and services that I use and trust myself or where I have interviewed and/or met the founders and have assured myself that they’re offering something of value.
