Categories: Investments

Sharesight Review 2023: Is This Stock Portfolio Tracker Legit?

Many individuals manage assets across multiple brokerage accounts in today’s diverse investment landscape. Each broker typically caters to a specific need: stock investments, cryptocurrency trading, or options contract selling. So, what’s the challenge here? Juggling multiple accounts can quickly become cumbersome and overwhelming. Try ShareSight. Unlike traditional brokerages, Sharesight isn’t in the business of offering trading facilities. Instead, it specializes in portfolio tracking, allowing you to oversee multiple accounts seamlessly under one umbrella.

Beyond just tracking, ShareSight simplifies the often complex task of understanding tax obligations and offering integrations with numerous leading brokerages.

Is Sharesight the solution you’ve been searching for? In this ShareSight review, we’ll dissect every facet of Sharesight to help you determine its suitability for your needs.

What is Sharesight?

Sharesight delivers an impressive array of portfolio monitoring capabilities, allowing you to gain comprehensive insights into your investment performance across various accounts, brokers, and asset types.

It further enhances the investment experience with handy features like dividend monitoring and tax reporting tools.

Deciding if Sharesight is the optimal portfolio tracking solution for you rests on several considerations, such as your budget and the specific attributes you desire in a portfolio tracker. The good news is that they offer a free version.

This allows investors like you to familiarize themselves with the platform before committing financially. However, be mindful: that the complimentary version has its limitations.

You should opt for their premium packages for the full range of what Sharesight offers. Delve deeper to uncover the essence of Sharesight, its functionalities, and its primary attributes.

How does Sharesight work?

Sharesight was born to give investors a clearer perspective on their investment results. This platform addresses the deficiencies often found in broker-provided data, which can be limited in depth and analysis.

Using Sharesight is refreshingly intuitive. You can set up an account—either a free version or one of their premium packages—and commence the integration process with your brokers.

This integration grants you automated updates on prices, performance metrics, and dividends for an expansive range of global stocks, cryptocurrencies, and fund options.

Moreover, assets like cash and property can also be integrated, giving you a holistic view of your entire portfolio’s worth.

To truly appreciate the capabilities of Sharesight, let’s explore its standout features.

Features of Sharesight

1. Vast Integrations:

Beyond connecting with over 200 global brokers, Sharesight boasts integrations with more than 40 markets and software partners. This expansive list comprises significant entities such as Charles Schwab, Robinhood, and Interactive Brokers, as well as emerging platforms in the cryptocurrency domain.

2. Comprehensive Portfolio Insights:

The platform streamlines portfolio tracking, offering a central hub for investment performance. With Sharesight, you can tailor return calculations, factoring in dividends, currency variances, and more. Plus, benchmarking your portfolio against any asset in Sharesight’s extensive database is a breeze.

3. Efficient Tax Reporting:

Ease the burden of tax season with Sharesight. The platform’s dividend tracking feature and seamless tax report generation ensure you stay well-informed about your investments’ tax implications.

4. Dividend Monitoring Made Easy:

Dividends, pivotal for many investment portfolios, are effortlessly tracked on Sharesight, with records stretching back up to two decades across their vast stock and fund database.

5. Diversity Report:

The unique Diversity Report by Sharesight unveils the diversification levels of your investments. Presented in an easily digestible pie chart format, you can swiftly gauge your portfolio’s diversification health.

Sharesight Pricing

Sharesight’s pricing is segmented into a complimentary version and three premium tiers: starter, investor, and expert. Here’s a glimpse into the monthly rates:

  • Starter: $15/month
  • Investor: $24/month
  • Expert: $31/month

If billed annually, you receive discounted rates:

  • Starter: $11.25/month
  • Investor: $18/month
  • Expert: $23.25/month

While the free package provides a portfolio, ten holdings, one custom group, and essential support, the premium versions offer an enhanced range of features tailored to the demands of diverse investors.

Pros of Sharesight

1. Extensive Financial Instruments:

With the platform’s support for over 250k stocks, ETFs, and funds, you have many investment options.

2. Broad Integrations:

You benefit from approximately 200 integrations, spanning software, brokers, and partner platforms, ensuring seamless financial management.

3. Automated Dividend Management:

The platform’s automatic tracking feature alleviates the hassle of monitoring dividends.

4. Tax Reporting Simplified:

Shareable tax reports are readily available, easing your tax preparation process.

5. Cost-Efficient Option:

For those needing more time to invest in a premium version, a free plan is available to get you started.

Cons

Limited Scope of Free Plan: While having a free plan is advantageous, its offerings are worth considering.

Is Sharesight worth it?

Does Sharesight offer value for your money? It largely depends on your financial allocation and investment demands.

The free version might suffice for individuals with a single broker account and minimal investments.

However, for the more experienced investor with a vast asset spread across multiple accounts, Sharesight’s premium versions can significantly simplify your investment tracking.

To discern if Sharesight aligns with your requirements, consider exploring alternative platforms like Bookmap, Rocket Dollar, and Morningstar. Evaluating these options can clarify the best quantitative analysis platform for your unique needs.

If this platform does tick all the boxes for you, click here to sign up for Sharesight today.

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