Note that even with the advances made with Web-based tools, on-line monitoring tools do not offer the same capabilities as the top portfolio management software programs. Rather, they are best seen as tools for keeping you abreast of what is happening with your portfolio and notifying you of current events that might affect your investment holdings. Only GainsKeeper goes beyond the portfolio monitoring function located on most Web sites to provide a complete system that tracks all of the transactions in your portfolio to compute the capital gains for tax reporting purposes.
An on-line manager is like a personal assistant, helping to monitor the activity of your portfolio. On-line portfolio managers do not profess to do what software can do. They can track a portfolio quite effectively, but they do not generate reports or calculate returns to the degree that software does. However, they are clearly heading in that direction.
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