Thank you for purchasing the Wealthscope add-on for retail investors. It provides powerful analytics to help you better manage your investment portfolios. Below is a step-by-step guide to get you started:
Getting Started with the Wealthscope Add-on
Wealthica’s Menu is the purple header up top. You can always access the add-on in the future by navigating to:
Wealthica’s Menu >> Add-ons >> Wealthscope add-on
Wealthscope’s Menu is circled in the screenshot above. It separates Wealthscope’s features into four groups: Accounts, Portfolios, Planning, and Tools.
ADD INVESTMENT ACCOUNT INFORMATION
In order to analyze your investments, you need to add your investment account information to the Wealthscope add-on. There are two ways of doing this: linking through Wealthica, and/or manually-enter it in the Wealthscope add-on.
To load your investment account information automatically using Wealthica, navigate to:
Wealthica’s Menu >> +Add Investment >> Financial Institution
Follow the instructions (and repeat for more institutions). Wealthscope will automatically retrieve your data, and populate them in the add-on. Please note that Wealthscope does not receive any personal identifiers (your name, e-mail address, or login credentials) from Wealthica. Your data is completely anonymized.
Alternatively, you can manually enter your investment account information (e.g., holdings and quantity of shares). From the landing page of the Wealthscope add-on:
View Accounts >> Enter your accounts (upper right)
ANALYZE YOUR INVESTMENTS
Receive your Wealthscope proprietary Portfolio Scorecard. You can analyze all of your accounts together in Accounts Overview, an individual account, or a specific group of accounts. Click an account to view, and then click the Analyze button in the upper right.
Your will be taken to an Overview page and see a grade for 5 important dimensions: Performance, Downside, Income, Fees, and Diversification. Our analytics are based on the current composition of your portfolio, so as to assess how sound your existing portfolio is. That means we use the same holdings and the same weights in the analysis.
(Note that Wealthscope does not have access to your past transactions and deposits / withdrawals. If you want to assess your historical trading performance, you should contact your broker.)
Your portfolio is analyzed against a benchmark that is automatically selected based on the closest equity-to-fixed income ratio of your portfolio e.g., 70% equity 30% fixed income. This benchmark serves as a reference point in scoring the Performance and the Downside dimensions in the scorecard. If your portfolio is just matching the benchmark, rather than outperforming it, it will receive a passing mark of 65%. Note also the following:
The analysis time frame in the scorecard is the longest common history of the holdings in an account, based on the inception/IPO dates of the holdings.
The historical returns in the Performance tab are calculated using each security's historical monthly returns, maintaining the same portfolio weights throughout.
Fees in our analysis refer to fund fees, i.e., Management Expense Ratio (MER), which may include a trailing commission for your advisor, depending on the share class. Your transaction fees are not included (the "Fees" add-on provided by Wealthica is a good place to track these other fees).
BUILD A PORTFOLIO
Now that you have seen how your current portfolios fare with the Portfolio Scorecard, you may wish to try our portfolio builders. You can test different portfolio ideas prior to actually investing, and see how they score. Navigate to:
Wealthscope Add-on >> Portfolios >> Create new
You may also save your portfolio to revisit later, or for use in other features. Here is a quick animation that shows how to save a portfolio.
SET PLANNING GOALS
The portfolios you have created and saved can be used to model your financial goals. Navigate to:
Wealthscope Add-on >> Planning >> Target Saving
Determine the necessary monthly savings required to meet any future financial goal (think children’s education, purchasing a home, retirement savings, etc.).
Saving for retirement? Navigate to:
Wealthscope Add-on >> Planning >> Target Wealth
Calculate the target wealth you would need to accumulate by your retirement age given your expected expenditure during retirement.
Now that you have a handle on the main features, you are all set to try out the rest!
For a detailed description of all features, please download our Knowledge Base PDF.
For any inquiries, please contact us at firstname.lastname@example.org.