With the rise of financial technology, there are now many great mobile and web apps that can help individual investors manage their money and portfolios more efficiently. Invest apps provide features like automated account setup, portfolio rebalancing, tax-loss harvesting, robo-advising, and more. These apps aim to simplify investing so you can spend less time managing money and more time enjoying life.
Top robo-advisors help build optimized portfolios
Robo-advisor apps use algorithms to provide automated investment management. Based on your risk tolerance, time horizon, and goals, robo-advisors will recommend a suitable portfolio asset allocation and invest your money across stocks, bonds, real estate, etc. Top robo-advisors like Betterment and Wealthfront can save time by automatically rebalancing your holdings periodically to maintain target allocations.
Automated tax-loss harvesting boosts after-tax returns
Tax-loss harvesting is a strategy to realize capital losses to offset gains and reduce taxes owed. Manual tax-loss harvesting can be tedious, but apps like Wealthfront and Schwab Intelligent Portfolios automate the process. By harvesting losses throughout the year, these invest apps can improve after-tax returns.
Fractional share investing enables easy periodic purchases
Investing small amounts frequently allows for dollar cost averaging into the market. But previously, fractional share ownership was impossible. Now mobile trading apps like Robinhood and SoFi Invest enable easy fractional share buys. So you can steadily invest in stocks and ETFs over time with minimal commissions.
Portfolio trackers provide a consolidated view across accounts
Rather than manually tracking investments across multiple accounts and asset types, apps like Personal Capital aggregate all your holdings into a consolidated dashboard. Portfolio trackers connect to your online accounts to show balances, asset allocation, performance attribution, and more in one place, saving headaches.
In summary, there are a variety of great invest apps today like robo-advisors, tax optimizers, fractional share traders, and portfolio trackers that make investing more efficient. These tools automate manual processes, enable better portfolio construction and tax management, facilitate incremental investing, and provide easy performance monitoring across accounts.