SMART PORTFOLIO QUESTIONS
At a recent webinar, TipRanks users had the opportunity to ask the company’s CEO questions about the platform.
There were lots of questions about Smart Portfolio, which given its popularity, perhaps isn’t surprising.
The good news is that a new version of Smart Portfolio is in the pipeline – and we’re going to incorporate many of your requests.
Here’s a breakdown of the most popular questions you asked about Smart Portfolio, and our answers. You can read the general Q & A here.
Adding stocks to your portfolio
Q. How safe is it to link my portfolio from my broker to TipRanks?
A. Very. This service of syncing portfolios was updated in 2020 and is now provided by Plaid. When looking for a new provider, security was one of our main priorities and Plaid met all our requirements. Many leading global financial institutions also use Plaid.
Q. TipRanks doesn’t enable me to connect from my broker. Can you add more brokers?
A. As soon as we receive requests to add brokers, we forward them to Plaid. Some of the brokers that we were asked about at the webinar can be added, so if you have an account with Chase or Wells Fargo, please try again.
Q. I have multiple portfolios, can they be uploaded and summed?
A. The number of portfolios you can upload depends on which membership you have. If you have Ultimate and you want to upload additional portfolios, you can contact our support team and request assistance. We don’t currently sum portfolios.
Q. Does my Smart Portfolio update when I update my portfolio on my broker account.
A. Yes. As long as you have synced your portfolio with your broker, it should be up-to-date. If you have any issues, please contact our support team at email@example.com.
Q. Can I select which portfolio I add tickers to? Currently they are automatically added to my first portfolio.
A. Stocks are automatically added to your default portfolio if you have multiple portfolios. If you want to add them to a different one you need to open that portfolio and add from there. We have noted your question and will consider adding this functionality in future.
Q. Can I manually add tickers/ multiple tickers at one time?
Yes. Simply click on add stocks.
Q. Do you plan to implement multiple transactions in Smart Portfolio on one stockfund? Currently I recalculate it manually and change Qty and average price.
A. Right now if you change the number of shares, we record this as a transaction and calculate the average execution price. We are planning to enable you to feed in multiple transactions manually this year.
Q. When will I be able to add fractional shares to my portfolio?
A. We will be working on making fractional shares available this year.
Q. When will I be able to add additional currencies to my portfolio?
A. Cryptocurrencies and Canadian stocks will be available with the new improved Smart Portfolio later this year. As we expand to more markets, we will enable them in your Smart Portfolio.
Selling stocks from your Smart Portfolio
We got a lot of questions about selling stocks from the Smart Portfolio. We realize that although you can sell stocks, there is no sell button which is confusing – and we will include this in our list of fixes.
Q. There is only a buy button, but no sell button on Smart Portfolio. Can this be changed?
A. You are right. We have noted this feedback and will incorporate it in the next Smart Portfolio version. Currently, to sell you can click on the X next to the ticker name which deletes the stock from your portfolio and records it as a sell.
Q. I have a problem adding previously purchased stocks and selling them on a different date. Will this be fixed?
A. Because we rank investors based on their performance, we don’t enable this. We are looking into how we can offer this without investor performance being manipulated.
Q. It is not possible to enter the closing price when you sell on the Portfolio, also, you are not able to sell part of or increase a position. Are you going to update this functionality?
A. These are features that we plan to update in 2021.
Q. Can I add short positions in my portfolio?
A. This is not something we offer right now, however we will look into this for future versions.
Adding Smart Score to the Smart Portfolio
We saw a lot of interest of integrating the Smart Score into the Smart Portfolio. This was great to see and yes, is something we are going to incorporate.
Public Smart Portfolios
We received a number of questions about what it means to make your Smart Portfolio public.
Q. How does “my public portfolio” work?
A. When you choose to make your portfolio public, you give other investors access to your performance, portfolio details, and recent activity. The best way to understand which information becomes public is to look at another investor’s profile. Here’s a link to the current no.1 individual investor tracked by TipRanks.
Q. If I make my portfolio public, will people know my identity?
A. No. You choose your username and image.
Q. If I make my profile public, how long does it take to be ranked?
A. It usually takes up to 24 hours, it occasionally can take 48 hours.
If we missed anything out, please feel welcome to contact us via our support team at firstname.lastname@example.org or reach out to us on any of our social channels – Twitter, Facebook, Facebook Group, Instagram, LinkedIn.
If you missed it, you can watch the webinar here.