What To Know Before Signing Up To Sharesight

Sharesight is a powerful portfolio tracking software designed to consolidate and monitor various types of investments, making it an invaluable tool for investors juggling multiple accounts. This platform stands out for its ability to track a wide range of assets, including cash, stocks, mutual funds, and cryptocurrencies, all in one streamlined and user-friendly interface.

For those new to investing or managing their own accounts for the first time, Sharesight offers a remarkably simple setup process. While it may not cover all American brokerages comprehensively, it’s an excellent choice for international investors who need a more efficient approach to asset management.

With a growing community of over 300,000 investors, Sharesight also boasts more than 200 integrations with software, brokers, and partners. It offers detailed tracking of investment performance and dividends, along with tax reporting capabilities.

This Sharesight review can help you understand how it might align with your investment goals and preferences, and what to know before signing up to Sharesight.
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What to Know Before Signing up to Sharesight

Before signing up to Sharesight you need to determine if it is right for you. Benefits, drawbacks and pricing will all factor into your equation, but I will start by going over some Sharesight basics.

What is Sharesight?

Sharesight, established in 2007 by Tony and Scott Ryburn, is a comprehensive portfolio tracking software designed to give investors a unified view of their diverse investment portfolios. It’s often likened to a ‘Fitbit for investing,’ offering a detailed analysis of investments spread across various brokerages and asset classes. This tool fills the analytical gaps that brokers might leave, providing features like in-depth performance analytics, dividend tracking, and efficient tax reporting.

The platform integrates with over 200 software, brokers, and partners, enhancing its utility for investors. It supports tracking for over 240,000 global stocks, a range of cryptocurrencies, and various funds. For investors looking for an intuitive and all-encompassing platform to monitor and analyze their investment performance, Sharesight offers a robust solution. With its wide array of features, Sharesight caters to those who need a detailed and comprehensive overview of their investment activities.

Sharesight Benefits

Here are some benefits you should be aware of before signing up for Sharesight:

• Portfolio Tracking: Sharesight supports over 150 brokerages, ideal for investors with multiple accounts. It goes beyond basic buy and sell price comparisons, factoring in capital gains, brokerage fees, dividends, and currency fluctuations. Users can set custom date ranges for annualized return calculations and organize investments by market or industry, with price alerts for the entire portfolio.
• Dividend Tracking: The platform automatically tracks dividends from over 240,000 global assets, calculating dividend income, yield, and their impact on portfolio performance. Dividend reinvestment plan tracking is available for ASX and NZX stocks.
• Tax Reporting: Sharesight simplifies tax filing with reports detailing taxable income, capital gains and losses, and all trading activity. It also provides tax reports tailored to the financial year of your tax residency.
• Security: Sharesight ensures the safety of your data with two-factor authentication, TLS protection, encrypted server data, and regular independent security audits.
• Integrations and Analysis: The platform integrates with 200+ brokers, 40+ markets, and software partners. It offers deep portfolio analysis, benchmarking options, and a unique Diversity Report for insights into portfolio diversification.
• Dividend and Tax Features: Simplifies tracking of dividends and distributions and provides tools for easy tax report generation and sharing.

Sharesight Limitations

Although there are quite a few benefits to offer, there are some Sharesight limitations you should be aware of before signing up to Sharesight. Here are the most notable ones:

• Cryptocurrency Support: Sharesight’s support for cryptocurrencies is limited. It automatically tracks only eight major cryptocurrencies, including Bitcoin and Ethereum. Users who deal with a broader range of cryptocurrencies may find this restrictive.
• Bond Tracking: The platform only automatically tracks bonds listed on the Australian (ASX) and New Zealand (NZX) exchanges. For bonds from other markets, investors will need to manually input and adjust their information.
• Short-Term Trading: Sharesight may offer limited benefits for short-term traders. The platform is primarily designed for tracking long-term investments and may not meet the needs of those focused on short-term trading strategies.

Sharesight Pricing

Here is the details of the pricing you should be aware of:

• Free Plan: This plan is ideal for beginners or those with a small portfolio. It includes 1 portfolio, up to 10 holdings, and basic features like automatic dividend reporting and price reports. This plan is limited in reporting features.
• Starter Plan: Priced at $15 per month, the Starter plan expands on the Free plan by allowing up to 20 holdings, 1 portfolio, and 3 custom groups. It includes standard support and limited reporting.
• Investor Plan: At $24 per month, the Investor plan is Sharesight’s most popular option. It offers unlimited holdings and up to 3 portfolios. This plan includes advanced reporting features, cash accounts, Xero integration, and standard support.
• Expert Plan: The Expert plan, priced at $31 per month, is the most comprehensive option. It includes everything in the Investor plan, with the capacity for up to 5 portfolios and 10 custom groups. This plan offers the most advanced reporting options, including Contribution Analysis Reports, and priority customer support.

Make sure to check out this Sharesight coupon code for periodic discounts.

Final Thoughts

Before signing up to Sharesight, it’s essential to understand its capabilities and limitations. This platform excels in portfolio tracking, offering detailed insights into performance, dividends, and tax implications. It integrates with over 200 global platforms, catering well to international investors.

However, limitations like limited cryptocurrency support should be considered. Sharesight has various pricing tiers, including a free plan, making it adaptable to different investor needs. For a more detailed exploration of Sharesight and to determine if it meets your portfolio management requirements, Click Here to get started today.

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