Sharesight serves as a practical solution for investors juggling multiple brokerage accounts, each dedicated to different areas such as stocks, cryptocurrencies, or options contracts. The challenge of managing these varied accounts can be daunting.
Sharesight steps in not as another brokerage but as an essential tool aimed at simplifying the tracking process of your diverse investments. Imagine it as a unified platform that consolidates all your investment information, providing a clear overview of your entire financial portfolio.
Now, deciding if Sharesight is the right fit for you boils down to your specific tracking needs and investment objectives. Is Sharesight safe and what benefits does it offer? Read on as I try to answer all you need to know about Sharesight.
Is Sharesight Safe?
Yes, Sharesight is safe and prioritizes the safety and security of user information. The platform ensures this through multiple layers of protection: Firstly, Sharesight supports two-factor authentication, adding an extra layer of security beyond just the password. This means that accessing your account requires not only your password but also a code from another device, significantly reducing the risk of unauthorized access.
Secondly, all data traffic to and from Sharesight is safeguarded with industry-standard TLS (Transport Layer Security), ensuring that your financial information is encrypted and secure during transmission.
Furthermore, the data stored on Sharesight’s servers is encrypted, and the data centers where this information is housed are enterprise-grade. They are monitored around the clock and equipped with various physical security measures to prevent unauthorized access.
In addition to these security measures, Sharesight ensures that your data is continuously backed up automatically online. This means that in the unlikely event of a system failure, your information can be swiftly restored.
Lastly, Sharesight commits to maintaining high security standards by undergoing regular independent security audits. These audits help to identify and rectify potential vulnerabilities, ensuring that Sharesight remains a safe and reliable platform for managing your investment portfolio.
Sharesight Benefits
Now that I have established that Sharesight is safe, it’s time I discuss the benefits it offers users. Here are the main benefits users can expect:
- Portfolio Tracker: This portfolio tracking tool connects to over 150 brokerages worldwide, enabling automated trade data import. Distinguishes itself from standard trackers by evaluating various factors such as capital gains, brokerage fees, dividends, and currency changes to provide a detailed view of the entire portfolio.
- Advanced Reporting Features: Offers comprehensive financial reporting for tax purposes, adaptable to different financial years and accounting for currency fluctuations. Includes tools like the Taxable Income Report, Sold Securities Report, and All Trades Report, all available in the free plan, to assist in calculating tax returns and analyzing investment performance.
- Dividend Tracker: Automatically tracks dividend payments from a vast range of over 240,000 assets, including mutual funds, ETFs, and managed funds, across more than 40 stock exchanges.
- Tax Reports: This tax reporting tool is tailored to streamline the tax return process by setting a base currency according to the investor’s tax residency and factoring in currency fluctuations. The platform’s tax reports simplify the assessment of tax burdens associated with passive income and capital gains. This feature will help make tax time a breeze by making your tax obligations clear.
- Investment Performance: Integrates investment returns, dividends, distributions, and the impact of currency fluctuations to provide a comprehensive overview of how investments perform over time, aiding investors in making informed decisions based on their true performance.
- Premium Plan: Offers enhanced features like the inclusion of financial accounts to provide a fuller picture of financial health and the future income report, which estimates potential passive income from dividends, distributions, and interest payments.
- International Investors: Facilitates global investment tracking and reporting, supporting multiple currencies and international stock exchanges, making it an ideal platform for investors with assets in various countries.
Sharesight Pricing
Sharesight offers a free plan as well as 3 different paid plans. Here is my breakdown:
- Free Plan: Perfect for novices or those with a small number of investments, this plan lets you track up to 10 investments, access essential reports, and share your portfolio details, all at no cost.
- Starter Plan: At around $15 per month, this plan is designed for those who need a bit more from their tracking tools. It allows you to monitor up to 30 investments, compare your portfolio’s performance, and store relevant documents. If you choose to pay annually, the cost is reduced to $11.25 per month.
- Investor Plan: Aimed at more serious investors, this plan costs about $24 per month and supports unlimited investment tracking across four different portfolios, along with additional reporting features for more in-depth analysis. Opting for an annual payment reduces the monthly cost to $18.
- Expert Plan: This is the most comprehensive option, priced at approximately $31 monthly. It caters to seasoned investors by providing all the features of the previous plans but allows tracking across up to 10 portfolios. The annual subscription offers a discounted rate of $23.25 per month.
Final Thoughts
In essence, Sharesight stands out as a lifeline for investors juggling accounts across different platforms. It’s not just about security, which it takes seriously with features like two-factor authentication and encryption, but also about giving you a clear, consolidated view of your finances.
Whether you’re deep into stocks, crypto, or other investments, Sharesight simplifies the tracking and analyzing process, making it easier to see the big picture. With its range of tools like the Portfolio Tracker and Tax Reports, it’s built to cater to investors worldwide, offering detailed insights and easing the burden of financial management.
If you’re tired of switching between accounts and want a streamlined way to monitor your investments, Sharesight might be what you need. Ready to get your finances in order? Click Here to discover what Sharesight can do for you.