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Wealthie — Modern investment portfolio tracker

Hi everyone!

Wealthie is an investment portfolio tracker that I wish I had when I started my investing journey.

Before I started building it, I tried a number of similar tools (Personal
Capital, Sharesight, Mint, Yahoo Finance, to name just a few). They all
lacked something, had a dated unintuitive UI, were too expensive, or were
inaccurate. For a while I used a manually updated Google Sheet but found
that to be tedious and unreliable (GOOGLEFINANCE functions would not
always work). Finally, I decided I'd give it a shot and try to build
something that would satisfy my needs.

Wealthie's goal is to answer questions such as:

  • What is the total value of my investments across brokerages?
  • What percentage of my portfolio is in stocks, ETFs, FAANG, or some other self-defined group?
  • Which of my investments contributed to the biggest gains and losses?
  • What would my return be if I invested the same amount of money at the same points in time in a single mutual fund / ETF / stock?

Indie Hackers is one of the first websites where I'm announcing Wealthie,
but I'm planning to gradually post about it in more and more places,
gather feedback and make the app better. Please let me know what you
think, what you like/dislike, and most importantly, what you think is
missing. Any feedback is welcome!

  1. 2

    Congrats, @juliusz! I like many things about your product. What I feel it misses right now is crypto. Without it, the product is incomplete. Especially outside of the US where most of the ETFs and other assets are not easily accessible.

    My thoughts: competing on the price is not a good idea. Maybe you're not trying to do this, but you said that other products are expensive. I made the same mistake. It's better to offer a free plan and charge a premium for premium features.

    Let me know if you want to chat sometimes. I built deltabadger.com, and portfolio tracking is also on my roadmap. However, I focus fully on crypto at the moment.

    Good luck!

    1. 1

      Thank you! Crypto is high on my list of missing things. I have mostly thought of targeting the US market, but maybe that's a wrong assumption too. As a non-US investor, would you say crypto is the main thing you'd need, or also support for non-US stock exchanges?

      Regarding the price, I was actually going to price it lower but then decided to go with a similar price to what other products charge (Sharesight's lowest plan is $15, I also saw Kubera charges $15). When I mentioned some products being too expensive I meant things like Yahoo Finance (was around $50 a while back, it seems they lowered their prices). Those products though have more features and are targeted at a slightly different audience I think (day traders, fund managers, financial advisors, rather than DIY investors). I do think that branching out into that market later on could be an option (e.g. a plan for financial advisors that supports multiple portfolios and view-only access that I could charge more for).

      I took a look at deltabadger.com and I like the idea although would probably prefer to use it for different cryptocurrencies than BTC. I'm not a big crypto investor but what deters me from Bitcoin in particular is its energy use. Nit: why not add Google/Facebook sign-up?

      1. 1

        Maybe you'll find it interesting. Some resources about the pricing:
        1. Pricing Methods
        2. Pricing Strategies That Grow Your Business

        People use DB for all types of currencies, and in the future, I'm sure all stocks will be tokenized as well. FTX already offers tokenized stocks like TESLA or APPL. I'm sure it's the future. The good part is that those platforms offer API so you don't have to collect your data manually.

        That said, I believe that energy usage concern is not very rational. On the scale of total energy consumption, Bitcoin is irrelevant. For example, the waste (not the usage – only the waste alone!!!) of energy in the US transport sector is estimated 50x higher than what Bitcoin use.

  2. 1

    Congrats on the launch.

  3. 1

    Biggest Issue:
    [1] Looks like you have to manually put in transactions; this is tedious. Every time I trade via my broker I am not going to then go and update this app and make sure they are all in sync. You need to integrate via Plaid or something of the sort.
    Some Questions/Points:
    [2] How many brokers does your target customer use? If they use primarily one broker..like Ameritrade...then they won't pay to use this app (even if [1] above is solved) because it won't add value. I can see this being helpful if I have few brokers to work with.
    [3] @deltabadger has a point in terms crypto integration. If I have multiple crypto brokers + equity brokers..and I am trying to value of entire portfolio from one place - this is useful. So I do think that there could be a lot of value added from supporting crypto. -
    --> But again - you need Plaid integrations because I am not going to manually put in transactions and make sure everything is in sync!

    1. 1

      Thank you! Yes, I agree that manually entering transactions is not very convenient. In fact, I started the entire app counting on Plaid but after trying to make it work for a while I encountered too many issues with it:

      1. It never gives you full transaction history. In theory their customer support told me it's 2 years, but sometimes it was as little as 2 months for the accounts I tried it with. I need this info to correctly calculate cost basis. This could be worked around by asking users to add missing data after the initial sync as a one-off.

      2. Some transactions would be misclassified. I got a sale transaction classified as a dividend payout from a Robinhood account. That's not good.

      3. It would randomly stop working for certain accounts and I would not be able to tell why. Support would be slow to respond.

      4. They would not budge on their pricing. To use investments you need a $500/month minimum plan with 1y commitment which is annoying because that plan offers a lot of other things (e.g. identity checks) which I don't need. They were unwilling to lower the minimum or get me on a custom pay-as-you-go plan that would only include investments. This is a minor thing if I see that the app gets any traction at all.

      That being said, this was months ago and re-evaluating Plaid is on my list.

      Given how many headaches Plaid gave me, I'll probably start with adding a couple more features first (crypto) and trying to get some traffic before I try Plaid again (unless I get a lot of feedback that this is a must).

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