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Creation of an investment/brokerage account type

Hello,


The current version of the program is beautiful to view and insightful to use.  I have two brokerage accounts, one of which is also a cash management account, which is basically a checking account linked to a brokerage account.


Because I rely heavily on these brokerage account for most of my banking in addition to my investments, I have been reluctant to purchase the program.


Do you have any immediate or future plans to support an investment/brokerage account?  Features that would be especially meaningful are: the recording of cash and debit transactions, stock buys/sells, various types of dividends, capital gains/loses, commission fees and taxes, industry/sector data, and the ability to enter reinvestment of dividends or mutual fund distributions.  Integrating investment data to the program's already brilliant charts and report, as well as perhaps adding a few graphs that monitor portfolio value, cost basis, capital appreciation, current asset allocation vs. target allocation, etc., would make MoneyWiz the most comprehensive financial app within the App Store (in my opinion!)!


Thank you so much for taking the time to read my post -- it's truly appreciated!


Warm regards,

Jason


7 people like this idea

You are not reliable anymore. Postponing From "Christmas 2015" a feature that is not the end of the world to implement is simply misleading and lacking respect to the users. Find better excuses or don't say anything.

Hello Rafael,


Please take a look: http://moneywizapp.com/preview-investment-accounts-moneywiz-2-6/


We are almost done.

Hello Pavel, I am waiting for this feature too but your previous link does not work: "Error establishing a database connection".
Oh, the same problem with moneywizapp.com. Few minutes ago it worked

Hello,


I'm very sorry about this! We're looking into this now.

Thank you Pawel for this article. Woke be nice if beta versions were available to absurd users as well. I have subscribed to the beta channel but never receive any beta releases... Use feedback is very important before releasing an official update. Looking forward to test the feature! PS. Will it be possible to import trades from CSV?

Rafael,


If you have recently contacted us to become a beta tester, you will be contacted once the Investments beta is available. If you're not sure, please contact us at hello@moneywizapp.com with your Apple ID.

As for CSV import - I'll need to clarify this with our design team actually but chances are that manual import will not be part of the initial investment accounts rollout but might come at later point.

Thank you Pawel. I will have over 200 trade transactions per year to import and I'm not sure my trading platform will be supported for auto download. I don't know about the other users but CVS import would be hugely appreciated..​.
Pawel, I just realized you may have misunderstood my question (typos for smartphone writing...): I meant to write  this :  "Would be nice if beta versions were available to Android users as well"

 

Hello again,


Ah, apologies. Indeed I misunderstood that. The feature is currently being ported to Android project so I'm not sure when and if we'll do a beta there.


As for CSV - I've received clarification from our team. We'd definitely like to do this but due to lack of standardisation in terms of import syntax for investment accounts and the complexity of the metadata for those type of accounts, we won't be able to make it happen in the initial investment accounts rollout.

 Thank you Pawel. Indeed there is no standard format for this type of transaction list. However there is no standard for transaction lists either yet your import module is very flexible and allow to import almost any transaction data format, I would use the same module for trades import. Furthermore, most trading platforms offer customizable CSV reports allowing to generate files with only the desired fields. It would be nice to at least have a basic importer for now so that the users who wish can tweak their platform-generated  CSV files (with excel for ex) so that it matches the requirement of your importer (at least at the beginning, then you can implement a more refined and flexible importer).

Rafael,


Thank you for your input! As I noted, we definitely want to do this - but not in the initial roll-out. This is not an easy task and will take a considerable amount of time to implement - multiplied by the amount of platforms we develop MoneyWiz for.


We don't want to delay the Investments feature any longer so the basic feature + Online Banking support takes priority as it'll satisfy majority of customers waiting for this (of course, majority does not equal entirety so we will do this but given our team size, we have to make hard choices like this).

Hi Pawel.


 If the feature is really "about" to be released (everything is relative...), why is it tagged


Also, I don't completely agree with your last statement: giving the possibility to import trades from CSV would please much more customers than if you only enable select users (with specific trading platforms) to use the feature...Thereason being that with CSV import you would basically allow ALL users who use a trading platform to use your soon-to-be-released feature.

Hello Rafael,


You are correct, sorry about the tag! It's sometimes difficult to keep track of them, especially if we have a couple of topics opened for a single feature. I've changed the status.


As for my last sentence - we've based this decision on the statistics we have of the number of customers who are doing manual import versus who use Online Banking. As I noted though, it's not a question of if we'll introduce CSV import but when. Given that we couldn't develop both in time, we had to make a decision that we're aware will not satisfy everyone. Sorry about that!

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