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Show HN: Wealthfolio: Private, open-source investment tracker

wealthfolio.app

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Re: Show HN: Wealthfolio: Private, open-source investment tracker

#111

Post by xyst »

rs999gti wrote: post #95

> No monetization is planned for now (only a "buy me a coffee" if you use and appreciate the app). A few ideas: Anonymize and aggregate the data, then sell it off to financial and marketing firms. Add ads to the site. Charge a subscription fee. Partner with banks as a white label financial planning tool.

> Anonymize and aggregate the data, then sell it off to financial and marketing firms.

Horrible. Goes against the privacy oriented aspect of this app.

> Add ads to the site.

Oh great, more useless ads I have to block. Nothing like getting a crypto scam ad while viewing your portfolio performance. Horrible UX idea.

> Charge a subscription fee.

Yet another SaaS, centralization of data, and betrays the privacy oriented aspect

> Partner with banks as a white label financial planning tool.

Likely won’t work. Maybe small advisors would buy into it but at that level there are a plethora of tools available to them with real time aggregation available via Plaid or even old school scraping (doubtful in 2024 though).

How about this? Just charge one time fee for major versions of the app. Minor and patch versions are free. Keep the privacy oriented aspect and local to users machine.

Why must you always use the worst ways to monetize? Treat users with respect and you will have life long customers. Not everything needs to be a billion dollar unicorn pumped with VC funds.

Re: Show HN: Wealthfolio: Private, open-source investment tracker

#112

Post by jonromero »

dv_dt wrote: post #89
diggan wrote: post #5

First question from reading through the landing page is about this part: > Import your statements from your broker or bank. Exactly what brokers/banks that are supported should be listed somewhere and linked here, as that's a "make or break" feature for a lot of people I bet. Not much point in replacing my homegrown "Banks CSV export -> Data processing > Import into spreadsheet" workflow unless I just replace that la…

An tool (maybe AI) that processes PDF statements and outputs the structured importable positions & transactions would be appealing to me. No live online link to be compromised, or at lease a simpler fetch statement PDF scrape (vs maintain scrape of broker sites).

We try doing that with HeyFire.co - import from a screenshot that is processed on your browser! But with a high rate of hit or miss right now.

Re: Show HN: Wealthfolio: Private, open-source investment tracker

#113

Post by xyst »

Ninjinka wrote: post #98

I tried importing activity from a Charles Schwab account, and it did not work, since they capitalize their field titles. Then after fixing that I got "CSV deserialize error: record 1 (line: 2, byte: 81): field 4: cannot parse float from empty string" and gave up. Not sure what accounts this is meant to work for.

I would just switch brokerages. Not just for the csv issue, but their platform has taken a shitter since acquiring TDA.

Re: Show HN: Wealthfolio: Private, open-source investment tracker

#114

Post by FractalHQ »

xyst wrote: post #113
Ninjinka wrote: post #98

I tried importing activity from a Charles Schwab account, and it did not work, since they capitalize their field titles. Then after fixing that I got "CSV deserialize error: record 1 (line: 2, byte: 81): field 4: cannot parse float from empty string" and gave up. Not sure what accounts this is meant to work for.

I would just switch brokerages. Not just for the csv issue, but their platform has taken a shitter since acquiring TDA.

Are there any you can recommend?

Re: Show HN: Wealthfolio: Private, open-source investment tracker

#115

Post by Ninjinka »

Ninjinka wrote: post #98

I tried importing activity from a Charles Schwab account, and it did not work, since they capitalize their field titles. Then after fixing that I got "CSV deserialize error: record 1 (line: 2, byte: 81): field 4: cannot parse float from empty string" and gave up. Not sure what accounts this is meant to work for.

Dropped my CSV into ChatGPT with the following prompt and the output file worked:

``` Modify this csv to match this format: Follow these steps to import your account activities from a CSV file:

Ensure your CSV file is in the correct format. Columns should include Date, Symbol, Quantity, Activity Type, Unit Price, Currency, and Fee. Click the 'Import' button and select your CSV file. Review the imported activities before confirming. Supported Activity Types:

BUY SELL DIVIDEND INTEREST DEPOSIT WITHDRAWAL TRANSFER_IN TRANSFER_OUT CONVERSION_IN CONVERSION_OUT FEE TAX Example CSV format:

date,symbol,quantity,activityType,unitPrice,currency,fee 2024-01-01T15:02:36.329Z,MSFT,1,DIVIDEND,57.5,USD,0 2023-12-15T15:02:36.329Z,MSFT,30,BUY,368.6046511627907,USD,0 2023-08-11T14:55:30.863Z,$CASH-USD,600.03,DEPOSIT,1,USD,0 ```

Except it couldn't find the symbol `BRK/B`, `BRK.B` or `BRKB`.

Re: Show HN: Wealthfolio: Private, open-source investment tracker

#116

Post by xyst »

aketchum wrote: post #91
admn2 wrote: post #83

is Plaid inherently bad? Is having an automated way of pulling in real time data worth the security risk of authing into all your bank accounts? Genuinely asking as this seems great in theory, but I'm a bit confused what it looks like to manually keep it updated.

My company is an online lender - we use plaid so that users may instantly link their bank account. They have an alternative of verifying with micro-deposits, but that does take 2 days and the company gets less information on the user, so there are more manual verifications the user must do (provide paystub and id etc). Plaid Cons: - The end user must type their bank account credentials into a third party platform tha…

> The end user must type their bank account credentials into a third party platform

Huh? I have seen plaid redirect to my banks login and then authentication and subsequent authorization (read access to accounts) in other flow. Then plaid uses provided token to retrieve data.

I don’t recall having to pass login credentials to plaid. Maybe that’s a limitation of _your_ bank?

Re: Show HN: Wealthfolio: Private, open-source investment tracker

#117

Post by a-fadil »

skim wrote: post #81

This looks great. Is there more information on the external connections the app makes? So far I see: wealthfolio.app yahoo.com I'm assuming latter is to fetch ticker symbols, but ideally would like to use this app completely local.

wealthfolio.app to check for new app versions. yahoo.com to fetch ticker symbols and quotes

Re: Show HN: Wealthfolio: Private, open-source investment tracker

#118

Post by xyst »

FractalHQ wrote: post #114
xyst wrote: post #113

Earlier quoted context omitted.

I would just switch brokerages. Not just for the csv issue, but their platform has taken a shitter since acquiring TDA.

Are there any you can recommend?

have had no issues with IBKR since switching last year. There was a recent “crash” (the Japanese stock sell off?) that caused a massive influx of retail trading and dark pool trading. At market open on Monday, SCHW account with 401K was not accessible. But IBKR was up and running.

Re: Show HN: Wealthfolio: Private, open-source investment tracker

#119

Post by mNovak »

diggan wrote: post #24
Dalewyn wrote: post #21

Speaking practically, I don't see a need or reason for this. I can just login to my bank and brokerage accounts and check live data on the spot. Speaking as a Boglehead, checking on your investments frequently is usually a bad thing.

> Speaking practically, I don't see a need or reason for this. I can just login to my bank and brokerage accounts and check live data on the spot. First mentioned and most prominent feature is "Accounts Aggregation" on the landing page. If you don't have multiple accounts, it makes sense you don't see any need for this. But you should also realize that it's fairly common to have multiple accounts, for various of reas…

My main brokerage (Schwab, and I assume most others) have account aggregation built in, so that's become my de facto 'wealth manager' dashboard.

Now, those external accounts are second-class citizens and don't get portfolio analysis and stuff like that, so there is room for improvement, but the ease of use and cost (free) is hard to beat.

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