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Wealthica Portfolio Management software - free to fee
November 21, 2023
1:14 pm
Kirk
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I have used the free version of Wealthica for portfolio management for several years; nothing fancy, just a simple way to keep track of my investments. Now suddenly they spring on its users that the free version is no longer offered and I don't think it is worth the $150 annual fee they are now charging. I was wondering if there are any free alternatives that folks have used and would recommend?

November 26, 2023
3:02 pm
Doug
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Kirk said
I have used the free version of Wealthica for portfolio management for several years; nothing fancy, just a simple way to keep track of my investments. Now suddenly they spring on its users that the free version is no longer offered and I don't think it is worth the $150 annual fee they are now charging. I was wondering if there are any free alternatives that folks have used and would recommend?  

Passiv?

https://passiv.com/pricing/

November 26, 2023
3:22 pm
smayer97
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Can't vouch for it but I know some that use it - free:

https://investing.quicken.com

November 26, 2023
3:33 pm
Doug
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smayer97 said
Can't vouch for it but I know some that use it - free:

https://investing.quicken.com  

Hadn't heard of that, but looks like it's owned by Rocket Mortgage LLC, a U.S.-based concern. They own the Quicken name, not Intuit. It's quite possible you can only add U.S.-domiciled investment and bank accounts, so that may not work.

Mint, from Intuit, could be a free option like Passiv I mentioned above.

Cheers,
Doug

November 26, 2023
3:41 pm
NorthernRaven
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November 26, 2023
4:14 pm
Doug
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NorthernRaven said
Mint is shutting down at the end of the year, I believe.  

Ah, interesting. That's too bad. Yeah, I doubt they'll add Mint's other features to Credit Karma. 🙁

November 26, 2023
4:55 pm
smayer97
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November 26, 2023
5:04 pm
smayer97
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Doug said

Hadn't heard of that, but looks like it's owned by Rocket Mortgage LLC, a U.S.-based concern. They own the Quicken name, not Intuit. It's quite possible you can only add U.S.-domiciled investment and bank accounts, so that may not work.

...

Cheers,
Doug  

The site is owned by Quicken, Inc. Rocket Mortgage, formerly Quicken Loans, only licensed the name. Intuit divested itself of its 1st and original product, Quicken, in April 2016, which formed its own company (Intuit is now focused on its other main products, QuickBooks and TurboTax, and now CreditKarma). Quicken Inc was first held by HIG Capital ventures until Sep 2021 and is now owned by Aquiline Capital Partners.

investing.Quicken.com is available for Canadians. It just does not integrate with the Canadian version of the Quicken product.
https://community.quicken.com/discussion/7856406/investing-quicken-com-for-canadians

The site is only for tracking investments, not banking and bank accounts.

November 26, 2023
6:31 pm
mordko
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Companies like Mint and Wealthica had an unsustainable business model. Their free services attracted a lot of budget conscious people. Not the kinds of people who would go for credit cards or would need debt restructuring services advertised on Mint.

And pay-per-service extras on Wealthica didn’t attract right type of person either. Everything it offers, including the extras, can be done with a more personalized spreadsheet. Someone who counts money is rarely keen to see unnecessary lines on the bill.

Owners will refocus on a much, much smaller group of people who are prepared to pay for basic service (Wealthica) or on a substantially different offering likely to attract people more amenable to advertisers charms (Innuit). Users should consider a spreadsheet.

November 27, 2023
4:25 pm
musicalmaestro
Ottawa
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Kirk said
I have used the free version of Wealthica for portfolio management for several years; nothing fancy, just a simple way to keep track of my investments. Now suddenly they spring on its users that the free version is no longer offered and I don't think it is worth the $150 annual fee they are now charging. I was wondering if there are any free alternatives that folks have used and would recommend?  

I will preface this by saying I am not affiliated with wealthica and had similar sentiments to Kirk's. For anyone who may find this there has been plenty of discussion on reddit (r/wealthica) about this which I suggest checking out.

Note the 150$ plan is the premium version, but for the vast majority the 75$ annual plan will likely suffice (and if you search hard enough it may be possible to lock in one year of unlimited for 50$ using a promo code emailed out last year).
There is also an option to sign up for gopeer and after investing $100 with them getting a connect subscription good for three account connections for one year for free.
Inconvenient, maybe - but these partnerships and decisions are good business practice to help at least maintain something for Canadians, as I for one want to see them succeed and not shrivel up into nothing.

November 27, 2023
6:51 pm
krwilson
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You can subscribe to Connect Unlimited yearly for a limited time for $50 per year +tx (regular $75/year), using the promo code LAUNCH50 until November 30, 2023. That's the same price as the base Connect plan!

Some pressure since there are only a few days left until November 30th!

November 28, 2023
5:00 am
RetirEd
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Exactly what is Connect Unlimited? My searches just turned up piles of mobile-phone promotions.

RetirEd

November 29, 2023
5:03 am
krwilson
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RetirEd said
Exactly what is Connect Unlimited? My searches just turned up piles of mobile-phone promotions.  

https://app.wealthica.com/addons/details?id=wealthica%2Fconnect-unlimited-addon

December 1, 2023
6:35 am
RetirEd
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Bizarre. Nothing at that link tells me what Connect Unlimited is - or even wealthica, for that matter! No "about" or anything...

RetirEd

December 1, 2023
6:54 am
Norman1
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I think that is supposed to be Wealthica's $75/year Connect Unlimited Plan. Their explanation is at From Free to Fee: Wealthica’s Revised Pricing Structure Explained.

December 1, 2023
7:47 am
musicalmaestro
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RetirEd said
Bizarre. Nothing at that link tells me what Connect Unlimited is - or even wealthica, for that matter! No "about" or anything...  

Yeah, wealthica could work on their pricing/About info.
That said, the community is fairly active on reddit and this post from a year ago should clearup some things about "connect unlimited"

Introducing Connect Unlimited 📣
byu/BKawasaki inwealthica

Hope that helps

December 1, 2023
9:22 am
kesa
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mordko said
Companies like Mint and Wealthica had an unsustainable business model. Their free services attracted a lot of budget conscious people. Not the kinds of people who would go for credit cards or would need debt restructuring services advertised on Mint.

And pay-per-service extras on Wealthica didn’t attract right type of person either. Everything it offers, including the extras, can be done with a more personalized spreadsheet. Someone who counts money is rarely keen to see unnecessary lines on the bill.

Owners will refocus on a much, much smaller group of people who are prepared to pay for basic service (Wealthica) or on a substantially different offering likely to attract people more amenable to advertisers charms (Innuit). Users should consider a spreadsheet.  

this is exactly why I built my own spreadsheet.

December 3, 2023
6:05 am
RetirEd
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They sure make it hard to understand what "connect to your accounts" means. Kesa's post makes me wonder if it is simply just a consolidation of account statuses, like my own spreadsheet. Is that it?

RetirEd

December 3, 2023
6:30 am
musicalmaestro
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RetirEd said
They sure make it hard to understand what "connect to your accounts" means. Kesa's post makes me wonder if it is simply just a consolidation of account statuses, like my own spreadsheet. Is that it?  

It actually imports ALL transactions plus a daily snapshot of total value. This way you can track capital gains / losses (this function is hidden under power ups - the lightning bolt), dividend income and net worth. So there is far more to it than just the account status.

December 3, 2023
2:25 pm
Briguy
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There's a nice discussion of alternatives to Mint on Reddit:

Mint is shutting down. What budgeting apps do you use?
byu/Beekatiebee inpersonalfinance

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