The average adult is not too interested in managing an investment portfolio, and considering how complex the world of stocks, bonds, and other types of investing can be, the position is not really that surprising. However, now it’s not as though you have to be trained stock broker to at least follow your funds and have a basic understanding of how they make your money work from you. In all honesty, it behooves you to know what’s happening in some small measure so that you can make informed decisions where your investments are concerned. While you might not necessarily want to start making your own day trades, it couldn’t hurt to obtain the tools that will allow you to follow the many options contained in your portfolio. And luckily there happens to be an app for your favorite iDevice that can help you out here.
Although WikInvest has been touted as a “portfolio manager”, the truth is that this simple app is really intended as more of a tracker than the comprehensive management tool that this description implies. If you’re looking for a way to do trades, this is not the app for you (try E-Trade). On the other hand, for those that are seeking a way to follow their many holdings even though they are spread across a number of brokerage firms, WikInvest could provide an apt solution. And there are a few good reasons to download this free application for your iPhone.
For starters, it links up to more than 60 different brokers, including Ameriprise, E-Trade, Merrill Lynch, Schwab, Wachovia, and dozens more. All you have to do to get started is link to your particular accounts to begin tracking. From there you follow stocks, brokers, or your overall portfolio to track changes and stay abreast of developments with your investments. You can also view items by “gainers” and “losers” to get a quick idea of which investments are currently paying off, and you will have access to a performance comparison tool that charts various sectors of your portfolio over the course of days, weeks, months, or the year to date (YTD) to give you an overview of which options have performed better than others.
You can also follow investment news, track a variety of international markets, and find out what other investors think of particular stocks or brokerage firms as a way to get all the information you need to be an active participant in your own investments. So whether you’re tracking stocks and bonds, you want to get an insider’s perspective on specific investments, or you’re on the lookout for forex halal investment opportunities, this app could just be the tool that brings you the info you need no matter where you are. Again, day traders or those that like to control every stock and bond in their portfolio on a minute-to-minute basis may not find the functionality they crave with this app. But for those who simply wish to keep an eye on investments and gain a better understanding of how they’re performing, WikInvest will deliver the goods.
Thanks to Evan Fischer for this guest post. He is a freelance writer and part-time student at California Lutheran University in Thousand Oaks, California.