WEALTH MANAGEMENT TOOLS: Definition, and  Best Wealth Management Tools

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New innovations are altering the course of financial planning programs, and financial advisers as well as wealthy individuals always find themselves searching for an easier way to keep track of their assets. Thanks to innovative personal wealth management tools, they can now benefit greatly from the numerous wealth management tools and software available online. With the individualized attention and flexibility of high-quality wealth management tools, financial analysts are able to fulfill a wide range of client requirements. You can achieve better wealth management results, save time, and make your clients happier. This article focuses on the best wealth and portfolio management tools including crypto software.

Read Also: PORTFOLIO MANAGEMENT SOFTWARE: Top Investment Software In 2023

What are wealth management tools?

Wealth management tools are software systems employed by financial advisers to aid in the streamlining of economic procedures. It’s an advisory service for wealthy investors that caters to their specific needs. Wealth management tools are used by financial advisers as part of the advice-giving process to glean insights into their clients’ circumstances. They (advisors) employ a wide variety of financial tools to create a tailor-made strategy for each client.

On the other hand, you can keep tabs on your holdings and other relevant data with the help of wealth management tools including purchase/sale/dividend/gain/price information. You can also use wealth management tools to assess your portfolio’s performance and identify high- and low-performing investments.

In addition to providing financial advice, the financial advisor also handles accounting, tax services, estate planning, retirement planning, and investment management.

What are the Basics of Wealth Management?

  • Make morally sound choices when handling your personal finances.
  • Understand the “why” behind your financial objectives.
  • Think carefully about your financial situation and how you intend to spend your money.
  • Protect your personal and financial data with extreme caution.
  • Educate yourself on the fundamentals of the stock market.
  • Have an up-to-date estate plan in place.
  • Use the expertise of a shrewd and astute advisor.

Best Wealth Management Tools

Financial, tax, saving, insurance, property, and retirement planning are just a few of the many facets of life that should be considered while engaging in comprehensive wealth management. Whether you’re just starting to accumulate wealth and haven’t given wealth management any attention, or you’re well on your way to managing your fortune, investing in wealth management tools can be a sound financial decision. A recent survey found that 58% of respondents agreed or strongly agreed that access to digital wealth management had enhanced their quality of life.

Regardless, here are a few of the best wealth management tools in 20222;

#1. Personal Capital

To effectively manage your wealth, Personal Capital, allows you to monitor and analyze your financial situation in real-time. The dashboard compiles all of your financial and investment accounts into a single, easy-to-access location. This intuitive program can monitor every facet of your financial situation. With personal capital, easy budget tracking and a comprehensive financial overview will always be within your reach.

This website is read-only, therefore you won’t be able to make any transactions or withdrawals.

#2. FIS Wealth and Retirement

The retirement and wealth management software from FIS gives customers the ability to pioneer expansion. It enhances the customer experience, which in turn aids in the acquisition, development, and maintenance of customer relationships. It mitigates risks and helps users maximize profits. 

This program will give you unprecedented control over your wealth management business model. It can pick a deployment method and solution set that works for you and/or your company. FIS employs financial planning solutions, along with dynamic investment and asset management methods, to expedite expansion through the protection and amplification of existing assets.

#3. Salesforce Financial Services

The robust Salesforce CRM is the foundation for Salesforce Financial Services’ specialized wealth management tools. This app facilitates communication between advisors and clients in a brand-new fashion. This software is convenient for financial advisers because they may access it anywhere, anytime. Advisors can establish trusting connections with their customers based on the client’s goals and life events, which can then inform important financial choices. It facilitates prudent financial management for investors.

It’s fascinating that the software helps bankers and advisors make quicker decisions for customers based on actionable insights. Likewise, bankers and advisers can tailor their work environments to their own needs with simple drag-and-drop editing. The program also offers user-friendly tabs with fields tailored to the customer. You can simplify your financial management with the help of this program, which makes previously time-consuming tasks much simpler.

#4. Oranj

Oranj is free software that helps financial advisers manage their client’s wealth and streamline their investment management processes. With this dynamic app, service providers may access data in real-time to better assist their customers. Advisors will find this user-friendly software invaluable for managing a modern, interconnected enterprise. Additionally, it facilitates harmony between front- and back-office requirements.

With this user-friendly system, the advisors may manage a seamless enterprise. The goal of this all-inclusive solution is to reduce the time and money needed to implement new technology. It’s a robust instrument that ensures seamless communication.

#5. Wealthbot

Wealthbot is an automated financial advisor platform built on top of an open-source wealth management system. This program is adaptable to your specific needs. Since it is founded on open source principles, you will have full control over the wealth management solution.

This free and open-source software helps investors save time on rebalancing and trading. This program is designed to aid Registered Investment Advisors (RIAs) with their issues. It’s a free, publicly available robot financial counselor (that provides automated-driven financial planning services). It basically serves the wealthy masses.

The software facilitates efficient and low-cost account management. Oran also gives you the freedom of account creation, trade execution, as well as performance reporting.

#6. Sage Intacct

Those in the wealth management industry can benefit from using Sage Intacct, cloud accounting software. It’s useful for figuring out how to allocate funds. This program was designed with expansion in mind, so it works well with both Salesforce and ADP and includes built-in growth capabilities (Automatic Data Processing). Financial management can become easier with the software’s sophisticated features.

It’s easy to use and provides a secure and quick processing environment. You can view real-time reporting for hundreds of combined organizations at once. This software provides extensive accounting features for a variety of sectors. You can as well make strategic choices with the help of this app’s industry-tailored dashboards.

#7. Elysys Wealth

Elysys Wealth is a unified platform for managing one’s personal and business finances. This program gives you quick and safe access to all your organized financial data. This enterprise solution will allow you to provide a better service to your customers. It’s the state-of-the-art wealth management software solution provided by the financial sector.

Elysys Wealth is a tool that can help you better manage your wealth. As such, it’s an intelligent business application that fosters development and change within enterprises. The program equips financial advisors with technical knowledge and experience in their field. It aids in improving the quality of service provided to customers, which in turn improves the overall user experience. High-net-worth individuals, asset managers, structured finance companies, and family offices can all benefit from this software.

Wealth Management Tools Online

Resolutions to improve one’s financial situation are a common trend among individuals at the start of every new year. These resolutions’ common goals include creating a budget, monitoring investment performance, eliminating debt, and saving more money. Online wealth management tools can help individuals achieve these set goals. The widely used online or desktop management tools offer a wide range of features and services to alleviate some of the burdens of finding a top-notch application to assist with the process. However, the most effective online wealth management tool for you is the one that you will actually use often, not just because it’s the most well-known.

Nevertheless, here are a few of the top online wealth management tools in 2022;

#1. Quicken

Quicken personal financial software will get you organized and put you in control of your household budget. In a matter of minutes, too!”

#2. Moneystrands

Moneystrands is a user-friendly personal financial management tool that seamlessly consolidates information from different banking, lending, and credit card accounts into a single, comprehensive view.

#3. Mint

Mint pulls all your financial accounts into one spot for free. You can create a spending plan, monitor your progress toward your goals, and increase your financial flexibility with mint.

#4. Yodlee and MoneyCenter

Used by over 600 leading financial institutions and corporations and more than 40 million people, Yodlee’s best-in-class solutions remove the friction from financial management, giving a more intelligent, engaging, and actionable experience for consumers.

#5. BudgetPulse

BudgetPulse is a free online personal budgeting application that offers the perfect balance of simplicity and functionality. The goal of creating this tool was to make it simple for everyone to gain command of their own financial situation.

#6. ClearCheckbook

ClearCheckbook wealth management software is devoted to assisting you in regaining control of your financial situation by providing you with superior online tools for managing your checkbook, budget, and expenditures

#7. ReadyForZero

ReadyForZero can help you better manage credit cards, student loans, mortgages, auto loans, and other personal debt online, automatically.

#8. PocketSmith

PocketSmith began with the concept that a calendar and event-based approach would be a strong paradigm for sharing and managing financial information.

#9. Mvelopes

This breakthrough, award-winning solution adds novel financial software technology to the traditional envelope method of budgeting to help you manage your finances while living within your income.

#10. Moneydance

Moneydance is easy-to-use personal finance software that is equipped with all the functions you need: online banking and bill payment, account management, budgeting, and investment tracking.

Personal Wealth Management Tools

Personal wealth management tools are any programs that aid in managing your individual financial situation. Multiple applications exist, each with its own set of features and uses. There is dedicated software for a variety of financial management tasks, including budgeting, investing, debt monitoring, and saving. Personal wealth management tools aid in the establishment of effective systems for financial management and tracking, as its name suggests.

You may learn the fundamentals, improve your efficiency, and find new paths to your financial goals with the help of personal wealth management tools and apps. Basically, how you spend your money and what you need most from your personal finance software are the two most important factors. While budgeting and spending monitoring are just two of the many functions that dedicated personal wealth management tools may handle more efficiently. Additionally, these programs may be of use in managing a savings or investment account. You should also consider how much money you can allocate to personal wealth management tools.

In order to help you achieve your financial objectives, we have compiled a list of the top personal wealth management tools available, both free and premium; 

#1. Quicken

For many people’s money management needs, nothing compares to Quicken’s long history on the market. Quicken is the best all-around program if you want to manage your finances, assets, and taxes all in one place.

The entire process, from determining your wealth to paying your bills, will be fully automated.

However, there is a cost associated with this. There is a “beginning” version (for $34.99), “quicken deluxe” (for $51.99), “premier” (for $79.99), and “home & business” versions (for $104.99, respectively).

#2. YNAB

YNAB is an acronym for “you need a budget” and refers to a software package that does just that. You will be guided through the steps of dividing your funds among several priorities and supported as you make progress. Those who have debt or are having trouble managing their finances would benefit greatly from this.

The annual cost of the software is $98, however, there is a free trial period of 34 days and a full refund policy if you are not satisfied.

#3. Personal Capital

With Personal Capital, you can monitor all of your financial accounts in one convenient location. Likewise, you can use Personal Capital to keep tabs on your credit score, investment portfolio, and overall net worth.

However, if your portfolio is worth $100,000 or more, you may be eligible to receive individualized guidance from financial professionals in exchange for a fee. The essential program is offered at no cost.

#4. Mint

Mint’s principal use is for its ability to aggregate and display data from multiple financial accounts and credit card companies. Also, it’s a handy tool for keeping tabs on your credit report and budget.

You can also include investments and loans. If you use Mint, you can keep tabs on your finances whenever and wherever you like thanks to the mobile app and desktop version.

#5. Acorns

Acorns is an excellent option for those who are intimidated by the thought of investing. It is a service that will invest your spare change on your behalf, so you don’t have to save up a large chunk of money all at once. It’s possible that those few cents here and there will add up to a nice sum!

To help people save for retirement, there is a program called Acorns that works well with this and helps save for when you retire.

#6. Mvelopes

Based on the time-honored practice of allocating funds to separate “envelopes,” or spending categories, Mvelopes take their name from this time-tested method of financial planning. Hence, users can adopt this method, allocating funds to individual envelops to effectively manage their wealth

Basically, all plans are paid. The price ranges from $6 for the basic plan to $10 for the premier plan and $20 for the complete plan.

Which Wealth Management is Best?

The list of the best wealth management tools  includes: 

  • Zoe Financial
  • Personal Capital
  • Betterment and Charles Schwab
  • Harness Wealth
  • Facet Wealth

What is an Example of Wealth Management?

An example of wealth management would be an individual with a high net worth who decided to invest $10 million of their own money and has stakes in two separate businesses. They want to make sure that their retirement needs are met, and they also want to set up a trust for their child.

This person has been handling their wealth on their own for quite some time and has finally reached the point where they feel comfortable enough to employ a wealth management agency for assistance. This usually necessitates the collaboration of several experts in their respective fields. These specialists can help you develop a strategy to maximize your money and deploy your resources to achieve your objectives.

Who are the Top 5 Financial Advisors?

The following five financial advice firms each have total assets under management (AUM) of more than one trillion dollars:

  1. BlackRock
  2. Fidelity
  3. J.P Morgan Asset Management
  4. State Street Global Advisors
  5. Vanguard

What Tools Do Financial Analysts Use?

The most popular tools Financial Analysts employ to generate financial models, reports, and presentations for upper management or clients include; Excel, PowerPoint, and Word. Capital IQ, Bloomberg, PitchBook Data, and Reuters are all examples of data and analytics platforms available for financial advisors to utilize.

Portfolio Management Tools

In general, there are a number of compelling reasons why investors should use top-tier portfolio trackers or management tools. These include keeping tabs on their holdings of stocks, bonds, and other securities. The odds of achieving your financial goals will increase if you use personal portfolio management tools or investment management software.

You need to plan for retirement and other important life events while also analyzing your investment returns, fees, and asset allocation. To invest wisely, you’ll need top-notch private portfolio management tools. You could use a spreadsheet or do it manually, but why bother when there are so much better investment portfolio management tools out there? There has never been a better moment to invest in stock portfolio tracking software, since there are a wide variety of options available, from free to paid.

2023 Top Portfolio Management Tools

Choosing the best portfolio management tools can be complicated and confusing. Hence, you should look for portfolio management tools that can help you manage and monitor your investments while staying within your financial constraints. That should be the best portfolio management tool for you.

Nevertheless, we have a list of top portfolio management tools you can choose from below;

  • Quicken Premier 2022
  • Mint
  • Sigfig Portfolio Tracker
  • Personal Capital
  • Morningstar portfolio manager
  • investment account manager

Crypto Wealth Management Tools        

The purpose of crypto portfolio trackers, or crypto wealth management tools, is to help users maintain tabs on their cryptocurrency holdings, investments, and trades. You can use the below list to compare your existing Crypto wealth management software or tools options;

  1. HaasOnline
  2. eToro
  3. Koinly
  5. BitGo
  6. Altrady
  7. Ledgible
  8. TradeStation
  9. Coinsmart
  10. Coinledger


There is always a wealth management tool that is best suited for you or your clients with competent analytic software. This, however, is regardless of whether you have only just run a small firm or an established firm and you wish to expand. All you need to do is to think about what you’ll need to effectively manage your client’s assets as an investment, and then go after a solution.

Wealth Management Tools FAQs

Is It Appropriate to Invest in personal wealth management tools?

If you’re serious about reaching your financial objectives, investing in personal wealth management tools online will be money well spent. It could assist you in maintaining a budget and so saving money, monitoring and growing the value of your investments.

What are the best online investment tools.

The best online wealth management tools depend on your personal needs. Most financial advisors do offer clients their own financial tracker apps since they already tested them and it works for them.

how much does a wealth management tool cost?

Some online wealth management tools are specifically free while many others will charge you a mothy or annual fee. For Quicken for instance, there is a “beginning” version (for $34.99), “quicken deluxe” (for $51.99), “premier” (for $79.99), and “home & business” versions (for $104.99, respectively).

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