Must-have features and functionalities of a multi-asset portfolio tracking app development

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IntroductionWhat is a multi-asset portfolio?What is a multi-asset portfolio tracking application?The development process of a multi-asset portfolio tracking appMust-have features and functionalities in a multi-asset portfolio tracking app Why should I develop a multi-asset portfolio tracking app?Conclusion

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Introduction

Are you an investor or financial advisor looking to keep track of your investments across multiple asset classes? A multi-asset portfolio tracking app could be your solution! With this software or application, you can easily consolidate all your investments in one place, generate reports and charts to analyze your portfolio's performance, and even set up alerts and watchlists to stay on top of market movements. Plus, you can easily export data or images for record-keeping or tax filing. Don't let managing your investments be a headache - simplify your life with a multi-asset portfolio tracking application today!

What is a multi-asset portfolio?

A multi-asset portfolio is a diversified investment portfolio that consists of a mix of various asset classes. It can include stock, bonds, real estate, commodities, and cash or cash equivalents. The primary goal of developing it is to spread risk and potentially achieve more stable returns by investing in different types of assets that may perform differently under various market conditions. This approach is based on the principle of asset allocation, where the portfolio manager or investor allocates capital across different asset classes to achieve a specific risk-return profile or investment objective.

The specific allocation of assets within a multi-asset portfolio can vary widely depending on the investor's goals, risk tolerance, and market outlook.

What is a multi-asset portfolio tracking application?

It is a tool or app used by investors, portfolio managers, or financial institutions to monitor and manage the performance of a multi-asset portfolio. It typically provides real-time or periodic updates on the portfolio's asset allocation, performance, risk metrics, and other relevant information.

The development process of a multi-asset portfolio tracking app

Planning: This stage involves defining the scope, features, and target audience. You must conduct market research, identify potential users' pain points and needs, and decide on the app's value proposition. You must also choose the platforms (web, Android, iOS, etc.) and technologies (programming languages, frameworks, libraries, APIs, etc.) you will use to develop your app. You can use tools like the pain & gain map and prioritization matrix.
UI/UX design: This stage involves creating the app's user interface (UI) and user experience (UX) using tools like Figma and Adobe XD. You must design the app's layout, navigation, colour scheme, typography, icons, etc., using tools like wireframes, mockups, and prototypes. You must also consider the usability, accessibility, and responsiveness of your app across different devices and screen sizes.
Developing: This stage involves writing the code and implementing the functionality of your app. You must follow the best software development practices, such as version control, testing, debugging, refactoring, etc. You must also integrate your app with external APIs and services that provide data and features related to different asset classes, such as stock prices, mutual fund NAVs, bond yields, real estate listings, etc. You can use tools like GitHub, Visual Studio Code, Postman, etc.
Testing and quality assurance: Conduct thorough testing, such as user acceptance, unit, and integration testing, to ensure the app functions correctly. Test data accuracy, performance, and security rigorously to identify and address bugs or issues before release.
Deployment: This stage involves launching your app and making it available on the web or app stores. You must choose a suitable hosting provider and domain name for your web app or follow the Google Play Store or App Store guidelines and requirements. You must also ensure the app's security, performance, scalability, and reliability using tools like SSL certificates, CDN, cloud services, etc.
Post-deployment: This stage involves updating your app and providing support to your users. You may fix any bugs or errors that occurred in your app using tools like Sentry or Firebase Crashlytics. You must also add new features or enhancements to your app based on user feedback or market trends using tools like UserVoice or ProductBoard.

Discover how we develop a tailored multi-asset portfolio tracking system to supercharge your financial success.

Must-have features and functionalities in a multi-asset portfolio tracking app

Features	Functionalities
Multi-asset class support	Track and manage diverse asset classes, including equities, fixed income, real assets (e.g., real estate), alternatives (e.g., hedge funds), and cash equivalents.
Automatic data import	Automated import of transaction data, account balances, and market prices from financial institutions, brokers, and data providers.
Real-time price update	Daily automatic updates of market prices and asset valuations to keep portfolios current.
Portfolio aggregation	Compile investment portfolios from multiple accounts and institutions, giving a comprehensive overview.
Transaction tracking	Comprehensive recording and tracking of all investment transactions, including buys, sells, dividends, interest income, and corporate actions.
Risk assessment	Calculate and report risk metrics, such as volatility, beta, standard deviation, and correlation, to assess portfolio risk.
Asset allocation tools	Asset allocation models and optimization tools to help users set and maintain target allocations based on risk tolerance and financial goals.
Tax optimization	Provides users with tax-efficient strategies, like tax-loss harvesting, that can help reduce their tax liabilities and increase their after-tax returns.
Goal tracking	Set and track financial goals with progress monitoring and analysis to gauge goal achievement.
Customizable alerts	Customize alerts and notifications for portfolio events, market changes, or deviations from target allocations.
Performance measurement	To evaluate portfolio performance, comprehensive performance measurement, including time-weighted and money-weighted returns.
Reporting and statements	Get customizable reports and statements for portfolio performance, transactions, asset holdings, and tax-related documents.
Client management	Get a client database with contact information, financial profiles, and categorization for personalized services.
Compliance and audit trail	It provides compliance monitoring and audit trail management tools for regulatory reporting and client documentation.
Billing and fee management	Calculate, track, and manage charges associated with advisory services, including invoicing and payment processing capabilities.
Data security and privacy	Offers robust data security measures, AES encryption, and compliance with data protection regulations to protect user’s sensitive information.
Multi-currency support	Handle investments in multiple currencies and provide currency conversion tools.
Data export and integration	Export data seamlessly to other financial tools or integrate with third-party applications for complete financial management.
Customer support	Access to customer support through various channels to assist users with issues or inquiries.

Why should I develop a multi-asset portfolio tracking app?

Comprehensive view of investments: It allows users to consolidate all their investments across various asset classes in one place. It gives them a holistic view of their financial situation, making understanding their investments' performance easier.
Real-time tracking: Many portfolio tracking systems offer real-time or near-real-time data updates. It means users can monitor the performance of their investments as market conditions change, allowing them to make informed decisions quickly.
Performance analysis: These systems provide tools and analytics to evaluate the performance of users' investments. Users can calculate metrics like return on investment (ROI), yield, and volatility, helping them assess which assets contribute to their financial goals and which may need adjustment.
Risk management: Users can better manage risk by tracking their investments across multiple asset classes. If one asset class experiences a downturn, other asset classes may provide stability or growth, reducing overall portfolio risk.
Tax efficiency: It often includes features for tracking tax-related information, such as capital gains and losses. It can help users optimize their tax strategy and potentially reduce their liability.
Simplification: Instead of manually tracking investments in spreadsheets or multiple financial accounts, it saves time and reduces the chances of errors.

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Conclusion

A multi-asset portfolio tracking app is indispensable for seasoned investors and financial advisors. This powerful application provides many benefits that empower users to make informative decisions and rebalance their financial strategies. In a world where financial markets are dynamic and diverse, using a multi-asset portfolio tracking app has become a crucial element in developing and maintaining a successful investment strategy. Whether you are an individual investor looking to secure your financial future or a financial advisor seeking top-notch service, leveraging this technology can be the key to achieving your financial goals confidently and clearly.