Would you give up all your investment / retirement account passwords to a website that is known for money and stock market news reporting? They track data from various sources; then report the findings eventually in random posts / articles. So how do you actually know if your portfolio tracking data will be safe? I think for me it is a real issue because I am always hesitant to trust another online entity tracking my accounts. It took me almost a year before I could allow myself to even sign up for Mint a few years back. Mint worked well and has a very respectable firewall and security features in place, but one issue I had all the time was several accounts did not link up correctly aka update when I would log on. The website left me with the wrong account info from time to time. I just got used to it, but maybe this service by CNN will not have the same bugs. (Fingers Crossed if I decide to sign up one day) Handling financial information might be a bit daunting, but Portfolio Tracking by CNN Money will help you keep up with your investments.
Details of the Portfolio Tracking by CNN Money:
– One View of all your Accounts: Sync and Track
– Real Time Quotes: Can help see buy and sell opportunities
– Your Portfolio Insights: Measure performance against Indexes.
Now CNN money wants to get all your passwords and help you keep track of all your investments, with some tools to help you become a better investor in addition to being your online portfolio manager. (They Say) How comfortable would you truthfully be, to allow them access to your precious retirement figures? What if they share your data with competing investment websites, who now continually pester your life with ads by email, hoping you will switch on over to their house of stocks. I appreciate the simplicity of this service, but I still feel some trepidation with releasing all that precious password info.
On another happier note, if they save your information by the last time you logged in, should that be considered another source of backing up people’s data. If an investment company happens to have a major computer meltdown and they were to lose all traces of your accounts, you can hopefully provide proof of the missing funds by asking CNN money to remember the last time you checked your accounts and the figures you held in those accounts. That is one of the positives I can see with this service, besides the stock analysis and stock market research data you can get from this service. It should be noted of course that the CNN service is just a portfolio tracking service (as well as offering stock analysis and research data), if you’re looking to actually trade stocks independently then you will need a stock trading platform such as this one offered by AVA Trade.
Many of you have already signed up with CNN money to track your stock and mutual fund accounts in 1 place, but if you have not, what other features might get you to sign up for a similar portfolio management service?
What additional concerns might you have that you can share?
Leave info about how Portfolio Tracking by CNN Money might benefit you?
Rich Uncle EL
Pic credited to: CNN