What are investment accounts?
Investment accounts allow you to track your investments or retirement accounts such as brokerage accounts, commodities trading, 401k, IRA and others – basically any account that trades (Buy or Sell) any type of securities. For example, if you have a brokerage account you can add it to MoneyWiz to see how your investments are doing without logging into your trading platform.
Investments in MoneyWiz
MoneyWiz is not meant to be a trading platform – it doesn’t allow you to trade, it doesn’t give you advice what to trade. It’s a monitoring tool, meaning it just monitors your balances and helps you understand how they change and how they affect your overall Net Worth.
MoneyWiz support team is happy to help you with any questions you might have regarding this feature but we are not allowed to give advice on what or when to trade and will not provide guidance on that. Any investment decisions you make are entirely yours – so are both the gains and losses that your decisions result in. We take no responsibility for those.
In this guide we’ll cover the following areas:
- Ways of tracking your holdings – automatic (online) and manual
- Creating an Investment account
- Transactions in Investment Accounts – Trades View
- Holdings in Investment Accounts – Portfolio View
- Investments Chart
The screenshots in this guide are made from an iPad device. Whenever there are differences between the platforms where MoneyWiz is available, these will be described. Please, do not hesitate to contact us in case you have any questions.
Ways of tracking your holdings – automatic (online) and manual
There are two ways to track an investment account in MoneyWiz:
Automatic (via Online Banking feature you might be already familiar with)
We support over 3500 trading institutions. If your institution is supported, you can connect to it to automatically retrieve current balance, current holdings and past transactions. The full list of supported institutions is only available in the application itself – download the free version of MoneyWiz and search the list for yours!
In case your institution is not supported or you prefer not to connect to it via our Online Banking feature, you can manage your investments manually. You’ll be able to add buy, sell and other types of operations manually and still track the current worth of your capital.
For manual trading tracking we support accounts in any currency and any stock exchange and trading symbol that you can find on the Yahoo! Finance service – not just the New York Stock Exchange. This means that if you can find information on your stock exchange and stock symbols in Yahoo! Finance service, you will be able to manage it manually in MoneyWiz. Once you download MoneyWiz, be sure to search the list of Online Banking accounts for your trading platform though – perhaps it is supported for automatic tracking too!
What if neither my institution, nor my symbol is available?
If you cannot find your investment institution on the Online Banking services list and Yahoo! Finance does not have a record for the stock exchange and symbols you’re interested in you can still add the investment account to MoneyWiz, filling out all of the details about the stock manually. However, because MoneyWiz cannot download the current share prices from Yahoo! Finance, it will not be able to automatically update the value of your stock and generate the historical graph for you.
You can also place a request for your institution to be added to the Online Banking platform from here. Please note that while Salt Edge is our partner, they are a separate company so we have no knowledge or control over which banks are being added next so we cannot estimate when the integration with your institution might be completed.
Creating an Investment account
You can add multiple investment accounts to your MoneyWiz database – you are not limited to just one. This allows you to track your brokerage account separately from your retirement account for example.
To add an Investment account for automatic tracking, start adding new account in MoneyWiz then choose Online Banking Account type. Search the list for your trading institution to see if it’s available:
After you authenticate MoneyWiz will start downloading your current holdings. Once it finishes, you’ll be able to see all that data in MoneyWiz and have it contribute to your total Net Worth in the application.
To add an account for manual tracking start adding new account, scroll to the bottom and find “Investment” type. Tap on it and start filling out the details.
- Account name – a name for this account that will help you identify it on the list. For example “E*Trade” or “401k”.
- Cash Balance as of date – in the next field you need to enter your cash balance. Here you allocate the date to which your cash balance will be tied.
- Cash Balance – enter your cash balance as of the date selected above (if you leave the date as today then enter your cash balance as of today). Tapping on the currency code would also allow you to choose a currency (we support investments in various currencies; if you don’t see your currency make sure it’s enabled in Settings -> Currencies).
If you swipe to the side in this view, you’ll see the Extended pane. Here you can modify more details:
- Additional information – any additional information you might want to make a note of.
- Checkbook register – whether transactions in this account should present you with a check number field.
- Include in Net Worth – disabling this would cause MoneyWiz to ignore the balance of this account when calculating your total Net Worth.
- Put in Group – you can add investment accounts to an account group, just like with other types.
- Icon – optionally choose an icon for the account.
After you confirm those details, you’ll be asked to add investment positions to your investment account. For the purpose of this tutorial, we’ll populate a fictional portfolio. From the buttons at the bottom choose Add – a new screen will appear.
You’ll be asked to enter some information about your security. Note that only the first three on top and Buy date are required – the rest is optional.
- Symbol – the symbol of your security. As you begin to type, MoneyWiz automatically searches the Yahoo! Finance database for the entered query and tries to pull the data for you. In order for MoneyWiz to be able to automatically refresh the stock price your symbol must be present in the Yahoo! Finance database.
- Number of shares – the number of securities you’ve purchased. Note that it can be a negative number in case of borrowed shares or a fractional number if the Holding type is “Mutual Fund”.
- Price per share – will be downloaded from Yahoo! Finance database if your symbol is recognised. You might to adjust it however as MoneyWiz presents you the current stock price – you are likely to have purchased it at a different price.
- Total price – is calculated dynamically (Number of shares x Price per share).
- Commission – here you can enter the commission you’ve paid when performing this buy operation.
- Buy date – enter the date of this buy operation (defaults to today).
- Description – description of this operation. By default it pulls the name of the stock from the symbol.
- Holding type – the type of the security.
- Asset class – classification of the security.
After you add the details you want, your security is ready to be added to your portfolio.
In our fictional portfolio, we’ve added several more stocks. Before you confirm account creation you can preview the securities you’ve added and their total value.
Once your investment account is created you can modify, change its position on the accounts list and delete just like any other account – see the Accounts guide for more information.
Transactions in Investment Accounts – Trades View
Now that our account is created we can see a beautiful summary of our portfolio:
First, we’ll cover how to make and manage operations to your portfolio. For that, let’s switch to Trades view – look for the buttons below the chart.
In this view, you can see all of your investment operations in one place. Every buy and sell operation but also regular incomes and expenses (useful for Dividends for example) as well as transfers and adjust balance transactions. This could be compared to the Account register of a regular account – a list of all operations in this account.
Our fictional portfolio is managed manually therefore we see 4 buy operations representing the buy operation for each of the 4 companies we’ve bought shares for. If you’ve connected your account to an online service, you might see more operations here already representing your historical operations.
If you want to make a new operation find the plus button in the bottom right of the screen. This will open new Buy/Sell screen. If you wish to enter other types of transactions (regular expense, income, transfer and more) please find the three-dotted button in the top-right (iOS and Android) or right-click on the account name in the sidebar (Mac/Windows). Below you can find each operation type explained:
- Buy – allows you to buy more stock. Note that Buy to open and Buy to close are all the same in MoneyWiz.
- Sell – allows you to sell some stock. Note that Sell to open and Sell to close are all the same in MoneyWiz.
- Expense – allows you to enter a regular expense – for example to enter an extra commission.
- Income – allows you to enter a regular income – for example to enter a dividend earning.
- Transfer – just like with regular accounts, allows you to transfer money between accounts.
- Adjust balance – just like with regular accounts, allows you to adjust account balance to a particular amount.
The Trades view behaves just like you’d expect from a list of transactions in MoneyWiz (something we call an Account register). This means that you can sort, filter and search your operations using the buttons at the top of the screen. In MoneyWiz for Desktop (Mac and Windows) the Trades view can be displayed in both simplified list and more detailed spreadsheet-like view. More on how to work with Account registers can be found in the Working with Transactions guide.
Adding an operation
To illustrate how you can add an operation to your portfolio, let’s purchase more stock to our fictional portfolio. To begin we click on the + button at the bottom and choose Buy. You’ll be presented with the view very much like the one we saw when adding stocks to our investment account when we were creating it. Once again you need to enter the symbol, number of shares and price per share. Other fields are optional. Adding a Sell operation works exactly the same way.
Other operations (Expense, Income, Transfer and Adjust balance) work just like they do in regular accounts. You can read more on those in the Working with Transactions guide.
Holdings in Investment Accounts – Portfolio View
Let us go back to the Portfolio view for a moment. To do that, simply find the buttons below the chart again. The Portfolio view is just a list of holding positions ordered alphabetically by symbol. Notice that the + button is still there at the bottom in case you want to add an operation (buy/sell) but you will need to switch to Trades view again in order to see the list of operations.
You can select your securities in this view to Sell them or access more options (Delete, Buy more and view Details). If you choose to Delete, you’ll be asked if you want to delete it just from the portfolio or also delete the whole operations history from Trades view.
Also notice the two arrows button to the right – clicking on this allows you to refresh the current market values for your portfolio. The date and time displayed next to it indicates the last refresh. There is no limit on how often you can refresh your market values (but remember that there is an hourly limit on how often you can refresh your Online Banking account, in case you’ve connected your Investment account to Online Banking service, just like with any other Online Banking account in MoneyWiz).
Another thing worth mentioning is that in the Portfolio view the buttons to sort, filter and search are hidden – those are only available from the Trades view.
Let us now focus on the chart at the top:
Above the chart you’ll see a couple of fields:
- Cash – how much cash you have in your portfolio.
- Market Value – the combined market value of all your securities.
- Total Value: Cash + Market Value
- Change Today: represents the difference between price when the position was opened and the current price.
Below those you’ll find buttons allowing you to manipulate the chart. To the left there are buttons that you can use to zoom the chart: see 1 month period (1m), 3 months (3m), 6 months (6m), year to date (YTD), 1 year (1y) or All to see all time (not the future unfortunately).
To the right you’ll see the date range for the chart which is also editable if you prefer to set a specific date frame instead of dragging and dropping the handles using the charts below.
The colourful lines on the chart below represent the performance of your shares. You can click and drag to check the market value for each on a given date. Please note that at this time you can only see 5 shares on the chart that have the highest value of your portfolio (the value of a position is comprised by 2 factors: stock price multiplied by (abs) number of shares).
Using the tool below the colourful chart you can tweak the period you’re looking at even further. Use the handles to the sides to either expand or compress the view and drag either by the blue region or the scroll bar below to move through time. You can also use the < and > buttons on the sides to move through time. The line in this chart represents the performance of your best-performing stock.