Complete Sharesight review from a long-term investor and sharesight customer. Find out if this portfolio manager is right for you, and whether you can trust them with your portfolio
Sharesight helps you with your money: They let you track holdings and your total investment portfolio all in one place to give you a complete picture of where your money is at. This is important because pretty much every brokerage tracking platform will not be recording dividends or other asset types such as Cryptocurrency. I have used sharesight over the past few years and love it.
- Completely free for under 10 holdings
- Manage all of your investments from one place
- Advanced performance and tax obligation reporting
- Simple and easy to use
- Cloud based – access anywhere, anytime
- Tracks major Cryptocurrencies, property and other assets
- Mobile app is basic when compared to the on line program
- Tricky to manually import trades or large CSV sheets
- If you are a trader or have more than 10 stocks, the free account can provide misleading reports as it only tracks 10 of your stocks (seemingly at random).
The free sharesight tool is comprehensive, intuitive and has powerful reporting features that are easy to use. Sharesight’s service is reliable and the customer support team will quickly get back to you if you have any questions or issues. If you’re looking for an investing tool that can help simplify everything, this might be right for you.
Sharesight monitors all the information you need to stay on top of your investments (and tax) and provides an unbiased view of your investment performance to help you make smart decisions with confidence – it is used by over 250,000 investors worldwide.
Sharesight can be fully and securely integrated with your share trading platform or stock broker and can be fully automated meaning you do not need to manually add any information whenever you make an investment. They provide advanced portfolio performance reporting in the form of easy to read graphs, as well as comprehensive financial reporting which you can use to files taxes yourself, or provide to your accountant, financial advisor or tax specialist.
I have used Sharesight review over the past four years to track my investment portfolio performance and tax obligations on my journey to Financial Independence, ever since I was a novice share trader. Sharesight actually free for the majority of those on the path to Financial Advice who use an index tracking ETF or LIC strategy (since you will have less than 10 unique stock holdings), and it is hugely time saving.
Sharesight operate on a ‘freemium’ business model, where if you want to upgrade and track more than 10 unique stocks you need to sign up for a premium account. I have recently upgraded to a premium account and find the additional tools worth it.
In this Sharesight review I will show you exactly what is in my portfolio and how I use sharesight to track it, as well as how I use the Sharesight tax reports to file my personal tax return.
I have successfully used Sharesight four times to conduct my personal tax return, managing returns from a seven figure investment portfolio
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How to manage your investment portfolio
So many investors ask me something along the lines of… “Hey CaptainFI, how do you manage your portfolio? Do you use Excel or which accounting software did you buy? Or do you just hand a shoe-box full of ASX trade notes to the accountant?“. I’m not even kidding, there is about 10 of these sitting in the inbox right now.
It is useful to review your portfolio between purchases so you can make proper decisions. Portfolio management also becomes important when it is Tax time; any dividends, extra shares or bonus shares you receive from a dividend reinvestment plan (DRP) or Dividend share substitution plan (DSSP) you are liable to pay income tax for.
I used to keep track of everything in an excel spreadsheet, but it got really clunky. As much as I used to geek out over excel tables of budgets, net worth and investments which I kept meticulous records of, I just don’t care anymore these days.
I let Sharesight do it all for me – the best part, its 100% free if you have under 10 holdings. If for some reason you want to hold more than 10 stocks, or if you want to manage multiple portfolios – then you can subscribe to their premium plan which is pretty cheap anyway in my opinion for what you get and the time it saves you. With Sharesight there is no more pesky excel spreadsheets as it combines information from all of your share trading platforms.
I have personally used Sharesight for years now, and have a pretty good grasp on how to use it. It has some pretty awesome features, my favourite hands down would have to be the email confirmation trade importing tool. Sharesight literally saves me from having to do hours and hours of manual spreadsheet data entry, check sum calculations and pissing around with tax office rules and regulations to make sure I’m not inadvertently committing tax fraud.
It is also a convenient way to check on the performance of my portfolio for my Networth updates. Otherwise, I simply open up Sharesight once or twice a year and blow the dust off the login screen, confirm all the imported data about all of the ETFs I have bought that year is correct (the automatic data imports do it all behind the scenes for me), verify all of the dividends paid into my brokerage account, and then print out my Tax summary which I hand to the accountant. Then I log out and leave it to accumulate dust for the next financial year!
I’ll run through what I think some of the important bits are;
Sharesight is a web based software which keeps track of your investments for you. You can create a free account, log in, and then enter all of your holdings (or import them all at once). It automatically spits out performance, cash accounts balances, dividend payments, stock splits etc for you to confirm and cross check against your other records should you wish. If you have under 10 holdings, then your portfolio tracking is 100% free, and you never have to pay a cent.
There are increasingly clever ways to import data – for example the functionality exists using API integration for many online stock brokers to automatically import your live purchase data from your brokerage account without the need to ever manually input the transactions.
All you need to do is follow the user guide on sharesight and it ends up being about three clicks to generate a unique email trade confirmation account which you then provide your broker with to send your contract notes to – every-time you make a trade, it automatically gets replicated onto your sharesight account.
Trust me – it is worth importing all of your data to sharesight so you get a complete picture of your investments and historical performance.
You can track your property investments into your account by adding them as custom investments (property funds). This allows you to enter the original paid price, transaction costs, as well as enter an updated valuation of the house if you ever decide to get it revalued (or you use a service like RP data to get estimations based on nearby property transactions).
It is probably not the best way to calculate property valuations for taxes as it doesn’t consider things like depreciation schedules or negative gearing to work out your cost base or other factors, but it is a neat way to track it for your net worth.
I’ve manually added property data to my account but found it not particularly useful, however I would love to see sharesight integrate with a service like RP data for real time tracking of property prices – this would be a game changer.
Sharesight’s portfolio tracker is the good tool for investors who also trade in more than one asset class. With Sharesight, you can track cryptocurrency, stocks, ETFs and managed funds to get a complete picture of your investments in a single place without needing to combine data from your cryptocurrency exchange or wallet.
Sharesight’s performance tracking suite includes market data for 8 major cryptocurrencies with intraday updates (5 minute schedule) as well as powerful reports including Performance, Portfolio Diversity Analysis and Future Income (upcoming), and this is on track to expand as new cryptocurrencies are added.
Currently you can add;
- Bitcoin (XBT)
- Ethereum (ETH)
- Ripple (XRP)
- Litecoin (LTC)
- Stellar (XLM)
- Dash (DAS)
- Monero (XMR)
- Bitshare (BTS)
Although if you have other cryptocurrency coins you can manually add them as custom investments too.
Personally, I find Sharesight an extremely effective all-in-one solution for managing my SMSF, tax reporting and non-super investments. The ability to see my portfolio’s true return and the effectiveness of my investment strategy at a glance makes it a powerful tool in managing my super fund.Andrew Bird, Chairman of sharesight, 2020
All SMSFs (Self Managed Super Funds) are required to prepare annual financial statements, lodge an annual return and be audited. Xero is one of the most popular accounting tools, and you can actually synchronise your Sharesight and Xero accounts which creates a seamless solution between investment portfolio management and accounting. This allows you to integrate details of super contributions, share purchases, sales or dividends with the functionality available in your account at Xero – allowing for easy reconciliation against transactions made.
For those who do not know what synchronization is: this means that any information entered into one system will automatically populate the other system when linked.
It took me less than an hour to set up my account and import all my data, although I needed customer support to help me (I’m good at flying planes, not tax stuff lol). Now that my automatic data importing is set up through both API and email contract notes confirmations across my brokers, I really don’t have to do anything at all.
If you are stuck on how to set up your account, contact customer support and check out the sharesight community forum which has solutions to most of the frequently asked questions.
Once a year at tax time I verify all of the dividend payments using the year data share performance (which is handy for predicting income for future years). Then I simply click ‘Print’ on my tax documents and hand that to my accountant. It couldn’t be more simple – it is hugely time saving.
You can set up an individual account and 1 portfolio using the free plan or the starter plan, but with investor or expert paid plans you can set up 3 and 5 portfolios respectively, which is a great way to manage investment personal information, share performance, portfolios and tax statements for different family members – the sharesight reporting does it all with excellent reporting.
Sharesight have a mobile app however it is pretty old and outdated. It is obvious that they don’t prefer people to be using the app and would rather clients log onto the web client in their web browser. The web client is fully mobile responsive, so it is actually really good to view on mobile devices like phones or iPads. I pretty much only use the web client myself and dont use the sharesight app at all.
The best part is, if you have under ten holdings like most of the FI community, then its completely free. If you hold the Aussie FI portfolio of ultra low cost index tracking ETFs such as Vanguards VTS and VEU, and the Betashares A200, then you’ll have absolutely no worries.
Even If your a tinkerer like me (and tinkering has proven to reduce your investment returns so do so at your peril) and you own a few more holdings like the LICs I have, you’ve got up to ten holdings to play with before you start having to pay for the service.
How much will you have to pay? Who knows, its irrelevant to all of us on the path to Financial Independence! We know keeping costs low is crucial to maintaining out low cost of living and maximising our savings rate and minimising our time to reach FI. With the fantastic tool that are ETFs and LICs, we can have global diversification in thousands of individual companies in just one holding, so there is no need to ever have as many as ten – and you can always use the free plan!
If you still really want the ability to track an unlimited number of holdings and want to know how much for the premium versions, its currently this and clicking the image will take you to the current website. I have worked out a deal with Sharesight for CaptainFI readers where you guys will get 4 months of the subscription for free – just click the image below and it will take you to the site.
Although many don’t need to pay for premium, if you use this Bonus sign up link for CaptainFI readers, it will apply the special bonus to your account should you ever need to upgrade. I actually think it is worth becoming a paying customer for the extra services and features (such as being able to view total return over open and closed positions), but it is not necessary. The paid version is cheaper if you pay upfront, but you can also pay monthly over a year
Sharesight is easy to use. They have detailed user guides and its very intuitive from a web design point of view. Just don’t use it like an idiot and be logged in all the time hawk-eyeing your stock performance! Remember that saying a watched pot never boils? Yeah well, something something, stop looking at your ETFs! Just chill and let them do their thing in the background. Go do something productive like bake a sourdough or make some beer!
In all seriousness though, sharesight makes it super easy to accurately see the detailed performance of your portfolio and help predict future income. Most brokers wont take into account things like dividends or share splits, and Sharesight automatically tracks all of these actions for your portfolio meaning you get an up to date and real time answer for exactly how your performance has been.
That’s why Sharesight is the best way to keep up with whats happening with the financial markets, historical data and record data – because it is unbiased and not encouraging you to trade!
I think the best way to use it is simply on the portfolio review section where you can generate nifty little graphs (check them out below), but if you are more into analytics and spreadsheets, you can download all of the reporting from the ‘reports’ tab.
The sharesight community forum is also packed with great suggestions about how to get the most out of your account.
Whilst sharesight is completely free for users with under 10 holdings, using a paid account (premium) gives you more functionality and is necessary if you have over 10 share holdings. After just a few weeks of using it I became increasingly confident in the premium tracking platform and I think its great value..
If you want to see examples of my Sharesight reporting on all investments in my share portfolio in action, you can check out my Networth updates where I show you exactly what I see. Below is an example report of my FI portfolio over the month of September tracking just open positions. As you can see, Sharesight tracks each of my shares and will report performance individually, and then totals them to give the overall portfolio return.
This includes Dividends, Capital growth and shares purchases, and Sharesight even keeps track of things like franking credits and share splits.
I was initially sold on Sharesight because it was totally free, but the company recently reached out and suggested I try the premium version – they upgraded my account to a premium trial just to give it a go, and of course I am going to talk about it here.
At first glance, the main functionality is identical to the free version, however because premium now includes a backdated list of all of my stock performance from when I started tracking it in January 2018, I get a nifty screenshot showing the total return.
9.17% p.a. is not bad, a bit of total performance drag from my previous ‘stock picking’ activities but pretty close to the total 10% figure I like to work on as the average index return. We aren’t getting Earth shattering returns, but we know over the long term, index approach strategies are going to provide the highest returns (or rather the highest-risk adjusted returns?) as no one can consistently out perform the market over the long term.
There is no need to get greedy and risk my financial independence by gambling on individual socks.
To get an Idea of how this all worked, and the breakdown of how each stock performed I can get a screenshot of all of my previous holdings which is as follows;
If you couldn’t guess, yes I tried some stock picking through the Barefoot Investor Blueprint Subscription but eventually I got wise, read JL Collins the Simple Path to Wealth and adopted an index investing strategy. When I look at my total returns, and compare it to the index, I should have just stuck with the index!
Finally though, this is the gold-mine. The All Reports section. This is where the value really lies, because Sharesight let you automatically print off these awesome reporting documents. The most important ones to me are;
- Taxable Income Report
- Capital Gains Tax Report
- Sold Securities Report
This is because these are the main ones I hand to my accountant to get my annual tax return done for me
Out of interest, the other ones I like to look at are the
- Performance Report
- Diversity Report
- All Trades Report
- Unrealised CGT Report
Because these give me an idea about the size, performance, diversity, transactions and tax liabilities that the portfolio currently has, which help me predict my future income for FIRE purposes.
So Bottom line: Sharesight premium is definitely not required for your average punter (especially if your using the core index investing strategy like I am with under ten holdings), but I honestly think it is a fantastic product, especially the reporting, and I will be using it in the future. I have found the paid account great. If you have multiple holdings, fancy yourself as a bit of a trader, or if you just need to track multiple portfolios, track family members portfolios, or just want advanced reporting, then its probably a no-brainer to just get the premium version.
If you use this bonus sign up code for CaptainFI readers you can get four months of premium for free when you sign up for a yearly subscription.
To be honest, as the end user you probably don’t really care about this. But, since the team are providing such a bloody awesome free tool I think it would be rude not to acknowledge their efforts and generosity
Tony and Scott Ryburn are a very switched on and successful father-son duo. Tony had been a committed and enthusiastic investor in both the Australian and New Zealand share markets for decades, and worked as a director in the finance industry. His Son Scott worked extensively in the project management and Information Technology industry, managing computer networks, working as an IT analyst and managing high end home automation.
Together they dreamt about creating a better way of managing investments. Tony had spent decades as an investor, frustrated with the record keeping tools available at the time. Around 2006 they got serious about working on the project, bringing on board two highly experienced software developers.
Since then it has grown into the tool we use today, and is managed by a great team across their development team in Wellington (New Zealand), and a management team in the Sydney (Australia) office.
The Sharesight team are active on the sharesight community forum where you can post if you have questions or need help.
I often get asked about sharesight and so I decided to compile a list of FAQ below to help out
Sharesight is a free comprehensive portfolio tracker tool which displays your investment portfolio. You can generate comprehensive performance reporting, tax reports, and graphs. Sharesight considers capital growth, dividends, Dividend reinvestment, stock splits, and can also be used to track real estate and cryptocurrencies.
Yes, Sharesight Pty Ltd is a legitimate Australian company (ABN 36 151 146 726) which is registered with ASIC. They provide easy and accurate portfolio tracking and reporting. I have personally used them for over four years, and have had no issues submitting their tax reporting documents to my accountants for my personal tax return.
Yes, sharesight is safe. I have used it for over four years to manage my seven figure net worth portfolio with no security issues. All data is encrypted, and Sharesight use enterprise-grade data centres which employ a number of electronic and physical security measures. Sharesight is also subject to regular security audits. Sharesight is also registered with ASIC and subject to their regulations. You can only access your account and personal data with secure password authentication, or via the Google Identity service.
Yes, if you plan to only hold less than 10 shares in your portfolio then sharesight is 100% free. You can upgrade to a premium subscription if you decide to hold more than 10 shares in your portfolio. This makes it a perfect, free solution for index fund ETF investors.
The sharesight API is its Application Programming Interface. This is software which allows you applications to share data, and is used in sharesight to transfer date from your broker into sharesight to automatically track any changes to your portfolio – such as share purchases, sales, splits or dividend payments. The Sharesight API links to a number of brokers.
If the Sharesight API doesn’t work, the first thing to do is submit a ticket for technical support. You can then choose to either opt for email trade confirmation note (contract notes) integrations, or manually upload your details via a CSV spreadsheet or if you only have a small number of transactions, do it by hand and enter each trade.
Yes. Sharesight offers a 25% discount if you pay annually, and you can get 4 months premium for free using the CaptainFI bonus sign up code.
Sharesight is free for users with under 10 holdings, and a premium subscription is tiered depending on the service you need. Currently, a starter plan is just $19 per month (20 holdings), an investor plan is $31 per month (unlimited holdings and 3 portfolios) and an expert plan is $48 per month (unlimited holdings and 5 portfolios). Sharesight offers a 25% discount if you pay annually, and you can get 4 months premium for free using the CaptainFI bonus sign up code.
Sharesight is currently run by CEO Doug Morris, along with a team of experienced executives including cofounder and executive director Tony Ryburn.
Sharesight is a privately owned company that was started in 2006 by father and son team Tony and Scott Ryburn in New Zealand.
Sharesight has a mobile application called ‘Sharesight reader’ available for both Android and Apple users. The app does not get as much development updates as the website client, and has limited functionality compared to the web client. The Sharesight web client is fully responsive and is a better option to access your account than the app. There are a number of inconsistencies and complaints with the app, which has scored an average 2.4 stars out of five due to these issues.
Yes, sharesight supports tax returns using investment data from your individual holdings (assets held), assets trades and sell dates, dividend tracking and other tools using a combined view across multiple brokerage accounts. You can generate tax reports using your sharesight portfolio and ditch the excel spreadsheet.
Sharesight supports all major share trading platforms. Check out what Sharesight offers on their free plan, investor plan and premium plan here.
How do I track my portfolio overall return?
If you have under 10 shares then sharesight will calculate your overall return over tax year or specific times periods with one subscription. If you have over 10 shares and want to view closed positions or other new features then sharesight provides multiple plans between the free and the highest level subscription.
For a first time user and a free account Sharesight is simple to use – I picked it up within a few minutes. With a few quick click you can view your own funds, tax time reporting and performance, and dividend tracking to compare to your planned allocation goals. One reason is the community forum where I have found ways to manage my portfolio smarter.
How do I track capital gains at tax time?
Sharesight tax reporting will calculate capital gains and your cost base from historical data and brokerage account records. This is free in a free plan, however in a premium plan (starter plan, investor plan or expert plan) will get new features and advanced reporting like income report and cumulative growth reports.
What is the best free Portfolio tracker?
Sharesight is by a country mile the best free portfolio tracker. Some other alternatives include: StockstoTrade, Morningstar portfolio manager, Marketwatch portfolios, Personal Capital, SigFig, Betterment and Yahoo Finance. Rest assured, after you have checkout the rest you will likely end up choosing Sharesight.
For more personal sharesight reviews, you can head to the CaptainFI Facebook Group: Financial Independence Chat Australia and post asking for reviews – you will find hundreds of Sharesight users who will be more than happy to explain how they use it and their personal experience. Otherwise just check out google searches!
Sharesight is a simple and easy way to track and manage your cash accounts, investment portfolio performance and tax obligations. It is a fantastic innovative product which frequently released new featuresopen. The software can be fully integrated with your share trading platform or stock broker, so you don’t have to manually add any information when making an investment. If that wasn’t enough, you’ll find advanced portfolio performance reports and tax reporting in the form of graphs as well as comprehensive financials for you to save reports which you can use to file taxes by yourself (or provide them to your accountant). Sharesight has It saves me countless hours of pain-in-the-arse busy work at tax time and has let me say goodbye excel and time consuming individual reports – no more spreadsheets!
After trailing the premium version which came highly recommended by a friend, I actually think it is well worth it – I’m converted. Because I have previously held more than 10 stocks, this actually goes right back to my very first purchases and shows me how my entire portfolio went, as well as gives me some additional tools to play with. Sharesight gives me a complete view of different portfolios and investments spread across other platforms, using live pricing and makes calculation of my total portfolio worth.
Previously I have just said for people to sign up and use the free version (which is great) but actually the premium plan is amazing if you have larger or more complex investment portfolios (or a history that you want to track).
It was great to chat to Dave about the tool, and if you think Sharesight could help you, head over to the Sharesight website for more details about how to join and start benefiting from it, completely for free! If you are curious, they also regularly offer educational webinars and the Sharesight support team are always happy to answer questions.