Using Kwanti’s Portfolio Lab Software With Clients

Incorporating good technology into an advisory firm should help improve client relationships, save time and money and improve efficiency. As I’ve mentioned before, 2015 has been a year of new technology for my business, which I’ve written about in posts like Lesson Learned: One New Piece of Tech at a Time, So Far, I’m a Happy Customer of Redtail and My eMoney Review: Good, but What’s With Monte Carlo? 

In this post, I’d like to share a little more about my latest technology addition, Portfolio Lab from Kwanti.

Kwanti is not a household name as the company has not been very aggressive with its marketing, though I believe it will be in the future. I learned about Kwanti from a reader and fellow advisor, Robert Henderson, who has used the product for several years. I would summarize Portfolio Lab as an easy-to-use tool which combines the best features of several other products. Although it’s offered at a very reasonable price, there are a few limitations.

Portfolio Lab is great for analyzing portfolios that include individual stocks, mutual funds and ETFs. If you use any other type of investment, you’ll need to substitute a benchmark as a proxy or exclude it from the portfolio. Fortunately, Kwanti has a large database of benchmarks (not sure of the exact number). If you cannot find a good benchmark, but have access to historical data (three years is ideal), Kwanti will incorporate it. Obviously, this would be the best solution.