By Douglas Morris, CEO, Sharesight
Designed for the needs of financial professionals, Sharesight is an award-winning portfolio tracker that allows investment advisers to effortlessly aggregate, manage and track clients’ investments – all in one place. The admin-made-easy, CGT and unrealised CGT reporting alone are worth signing up for Sharesight, not to mention our connection to Xero. Want to know more about how Sharesight can make life easier for you and your clients? Here are four reasons why financial advisers use Sharesight.
Client demand
Our largest client base is DIY investors using the retail version of Sharesight. These users tend to be investors-in-the-know who use Sharesight because they understand the tracking and reporting shortfalls of online brokers and watchlists. Where this is relevant to investment advisers is that retail users are free to share their portfolio with anyone they like, including their financial adviser.
Think about the admin pain most people go through when hiring an adviser. Transferring assets, paperwork, logins, custodial forms, all that tedious stuff. With Sharesight, investors can share access to their portfolio with their adviser in 10 seconds for no additional cost – giving the adviser real-time access to their portfolio, including the ability to see their holdings, plus performance data inclusive of capital gains, dividends, brokerage fees and foreign currency fluctuations.
Client access
With Sharesight, investment advisers can create client logins and determine the level of access (read-only, read and write or admin). This makes it easy to invite clients to log into Sharesight and follow along with their portfolio, check trades and even run reports. After all, switched-on investment advisers know that bringing their clients into the fold is the recipe for an informed and successful client relationship.
Cost-effective
Platforms and wraps are certainly appropriate for some clients. But we don’t think portfolio admin alone should be the determining factor in choosing to put client assets on one. In the past there wasn’t a choice – an adviser couldn’t risk tracking client holdings on a spreadsheet. Unfortunately, for investors this meant paying asset management fees for a portfolio reporting service.
Now with Sharesight, an adviser can record unlimited trades and not worry about assets under management or portfolio size. We don’t care if a portfolio is made up of 100 penny stocks or $100 million in Berkshire Hathaway.
When you put a portfolio on Sharesight you also have access to our ever-growing ecosystem of connected apps. We automatically record trading data from more than 200 global brokers and push data to apps like Xero, allowing advisers to choose from a range of industry-leading services.
Complete visibility
Ultimately, Sharesight is like a passport to your clients’ portfolio data, where you can access all the information you need from one login. It’s also possible to create multiple entities for the same client, or a family. Maybe there’s an SMSF, an online brokerage account, an old corporate super – all of this can be tracked (and consolidated) within Sharesight. As an adviser, what you and your clients choose to do with the data is up to you.
Comprehensive reporting
When you’re managing multiple client portfolios, tax planning is a year-round responsibility. Sharesight’s unrealised CGT report can be used to streamline tax planning, saving you time and helping clients achieve better tax outcomes. The report displays unrealised gains and losses across your client’s portfolio, allowing you to identify opportunities to offset gains and losses throughout the year and model different tax-loss selling scenarios. Sharesight’s future income report can also be used to project upcoming dividends and distributions in your client’s portfolio, enabling you to plan ahead for your client’s cash flow needs. Both reporting tools can help you boost efficiency and automate your practice, giving you more time to focus on giving quality advice to your clients.
Start your free trial today
Sharesight for investment advisers is the ultimate tool to help you manage and report on client investment portfolios. By providing advisers and clients with powerful stock market data tools and advanced performance reports, Sharesight saves advisers hours of manual administration while adding value for clients and improving the quality of conversation between adviser and client.
This article is general information and does not consider the circumstances of any investor or constitute advice. No fund or stock mentioned in this article constitutes an offer or inducement to enter into any investment activity. Material published in SIAA Newsroom is copyright and may not be reproduced without permission. Any requests for reproduction will be referred to the contributor for permission.
