FREQUENTLY ASKED QUESTIONS

Why Trackwealth

Why should I use TrackWealth?

It is hard to make financial plans without knowing your asset composition and leverage information. TrackWealth can provide this holistic view in a simple, secure and intelligent manner.

We use patented technology to securely consolidate your accounts seamlessly. We do not pass your PDF statements for manual processing which is error prone, open to privacy issues and delays. We believe such an antiqued process should be completely automated with technology. We do not use or store your financial account credentials on servers the way other services do which is actually against bank policies. The way you access your financial accounts on your web browser is the same way TrackWealth accesses your account information, we just hide the browser to provide you a better experience. We only retrieve holding and transaction data from your accounts and we anonymise the data before storage.

We provide a suite of tools for you to use with your financial data so that you get a complete picture of your finances. With our visualisation and analysis tools, you can make better financial decisions on your wealth. As an added bonus, we display as much historical data as we have for your accounts, unlike your banks which often display only 3-36 months of data. This allows you to review past investments at the click of a button and see your asset growth over the years.

Why should I use TrackWealth when I can consolidate my net worth on my spreadsheet?

Many people consolidate their financial information on spreadsheets. Some people even store their financial account credentials on their computer, tablet or mobile device in unencrypted format. Their spreadsheets are even more likely to be unencrypted. Most people choose this setup because they feel it is the most secure method, but this is a misconception. The unencrypted files setup has multiple security loopholes and is error prone and time consuming. It is also not conducive to historical analysis. With TrackWealth, we solve all of these problems plus more. We offer you professional level financial analysis tools in a simple and secure platform.

Security & Privacy

What kind of technology do you use to retrieve information from financial institutions?

We use the product AEGIS to retrieve financial account information, store account credentials and financial data from your financial accounts, all on your own computer. AEGIS is patented technology created by eWise and it stores your data in a Personal Data Vault (PDV) on your computer using AES-256 encryption. The encryption keys to the PDV are stored separately on secured servers. When a user logs in to their TrackWealth account, the encryption key is retrieved from the servers and used to unlock the data in the PDV on the user machine. Upon retrieving your bank credentials, AEGIS uses hidden web browsers on your machine to retrieve your account information. Your bank credentials never leave your machine through this entire process and the same method is used for TrackWealth to access your bank accounts as you do.

How secure is the Personal Data Vault (PDV)?

Data in the PDV are encrypted using AES-256 encryption so it will take a hacker more than a life time (in the magnitude of billions of years) to decrypt your information with current computing powers should they gain access to your machine without your TrackWealth login credentials.

Do you take any of my personal information from my bank account?

We only retrieve historical and current holdings, transactions and cash flow data from your bank account. We keep the last 4 digits of account numbers in order to process transactions accurately from month to month.

What is bank grade security?

We follow the same standard on security encryption as a bank.

Can you move my money, is my money safe?

Our current technology solution does not allow for the possibility of initiating transactions on a user account. We are a read only service only.

Do you sell my personal information?

We do not and will not sell your personal information. In fact the only piece of personal information we store is your email address which we will never sell to a third party.

New account and Sign-Up

What kind of personal information do I need to provide to sign-up?

We only need your email address.

How will my email address be used?

Your email address is your TrackWealth ID and it is used as the only form of communication with us. We may use your email address to contact you about your TrackWealth account or to notify you regarding new features you might be interested in.

How long will it take to set up my TrackWealth account?

It takes approximately 3 minutes. You will need to provide your email and a suitable password, download and install the Personal Data Vault (PDV) on your computer. The PDV is patented technology which protects your financial account login information and financial data.

Why does TrackWealth require software installation when other services do not?

Services which do not require software installation are either storing your bank credentials on their servers or taking your bank PDF files as input.

For services storing your bank credentials, there is actually a copy or possibly two copies (due to backup) of all your account login and password somewhere. You have zero control over these copies located anywhere in the world. We believe storing the credentials in the Personal Data Vault (PDV) where you can delete your information or even uninstall the software all together, to be a superior solution. Furthermore, we are using the same web browser your use to access your accounts so if you feel secure logging into your bank account on your computer, you should feel equally secured syncing your accounts in TrackWealth.

For services which take your bank PDF files as input, it requires you to download the PDF files and anonymise the PDF file yourself before uploading it on a secure server. This is archaic given the capability of modern technology. If you do not anonymise the PDF file, then you are open to privacy risks when manual processing is required for one of your PDF files. Most of these services also only take the original PDF document from the bank website because a photograph of the statement will often require manual processing.

How do I set up a new TrackWealth account?

To set up a new TrackWealth account, enter your email address and a suitable password and click Sign Up. The system will guide you through the Personal Data Vault (PDV) installation on your computer. The PDV is patented technology which protects your financial account login information and financial data.

Can I have multiple TrackWealth accounts on the same computer?

Yes. The Personal Data Vault (PDV) is a one time installation but can support multiple users securely on the same device.

Can I use TrackWealth on mobile or tablet?

We are in the process of building our mobile and tablet offerings and will notify our users as soon as they are ready. They will integrate seamlessly with your TrackWealth web account.

What happens to my data if I decide to stop using TrackWealth?

You can deactivate your TrackWealth account in your Setting screen. Deactivation will delete all of your data from your Personal Data Vault and all of your anonymised data in TrackWealth. Any future subscription fees will also be discontinued.

Can I change my email address after sign-up?

We do not currently support a change of email after sign-up. You may, however, deactivate your TrackWealth account and sign up for a new account with the new email address of your choice.

Account consolidation

What types of financial account do you support?

Our list of supported financial institutions is constantly growing so it would be hard for us to keep the list up-to-date in this FAQ. However, we do support most bank and brokerage accounts in Singapore along with the Central Provident Fund (CPF) and the Central Depository (CDP). You can see a list of our supported institutions in our Add Portfolio screen. If your institution is not on the list, we encourage you to email us your institution name and account type at support@trackwealth.com so we can add it to our list of supported accounts in the future.

Do you support accounts outside of Singapore?

Our current focus is on the Singapore financial institutions but we are looking to grow internationally. We encourage you to email us your institution name and account type at support@trackwealth.com so we can add it to our list of supported accounts in the future.

Do you support accounts that require OTP?

Yes. Our system will prompt you for an OTP if an account requires one to access data.

Can I include my real estate holdings in TrackWealth?

Yes. Real estate assets can be a big part of a person’s portfolio and it should be included to better analyse a person’s finances. You can add a Real Estate Portfolio and add all your real estate holdings in it.

Can I include my mortgage information along with my real estate holding?

Yes. We allow you to enter your mortgage information along with your real estate information. You will only need to enter this manually if the lender is not one of the financial institutions you already added in TrackWealth via Add Portfolio. You can also enter your mortgage separately in the Constituents section under the Loans tab.

Data

How often do you update my financial account data?

We do not have access to your login credentials so your account transactions and cash flow information are only synchronised when you login to TrackWealth and click the "SYNC" button. If you login without syncing, TrackWealth will only be able to update the value of your marketable securities such as equities, funds and bonds. We recommend our users to click “SYNC" upon login.

What kind of financial data do you pull from my account?

We retrieve historical holding, transaction and cash flow information in order to provide the detailed analysis we offer on TrackWealth.

How far back can I view my financial information?

We are limited by the time frame of historical data we can pull from the website of financial institutions on initial portfolio setup. If all of your financial accounts display 3 years of data on their website, then TrackWealth will display 3 years of data initially. TrackWealth does not delete your historical data so continuing with the same scenario, if you open your TrackWealth account today, then one year later you will see 4 years of data on TrackWealth.

Why do my accounts have transactions or cash flows starting on different dates.

We are limited by the time frame of historical data we can retrieve from the website of financial institutions. If account A display 1 year of data on their website and account B display 3 years of data, then your TrackWealth portfolio will have the corresponding data. This can cause a jump in your total asset on the performance graph.

Where do you get market data for financial securities?

We use reputable data sources for market data such as Morningstar and IDC. We use the last price for equity, funds and bonds. For foreign exchange rates we refresh our data every 6 hours and uses the mid-point of each currency pair.

Trackwealth features

How do you categorise the region of an investment?

For financial instruments, we get the country information from reputable data sources and map them to the corresponding region. Region information is based on exposure instead of currency so if a fund is quoted in USD but invest in Europe, it will show up as an exposure in Europe. Funds often have exposure in multiple countries, in this case we take the exposure of each country by percentage and map them to their corresponding region. For example, if an emerging market fund has 10% Vietnam, 20% Korea, 40% China and 30% Brazil, the regional exposure of the fund is 70% Asia and 30% South America.

Why do you show total asset instead of net assets in most of your screens?

It is important to see how your assets are growing in order to manage them properly so we have chosen to use total assets instead of net assets for most of our functionality. However we understand leverage plays a major role in investment returns thus we do show your net worth on the left below your total assets and loans. We also have a Leverage feature under Analysis to provide leverage analysis.

Where do you get the list of best deposit rates?

We retrieve the latest bank deposit rates every morning.

How do you calculate asset growth rate?

We calculate asset growth rate to be a compound annual growth rate. It is the mean annual growth rate of all your assets over a specified period of time longer than 1 year.

How do you calculate performance of equity/funds/bonds/real estate?

Our performance numbers measure the performance of an asset over the last 12 months period. We use the same calculation convention as our asset growth rate.

How do you calculate best and worst performance?

A description of how performance is calculated is in the question above. We show the best and worst performance among all instruments in your portfolio.

There is a jump on my performance chart on a historical date, is this an error?

We are limited by the time frame of historical data we can retrieve from the website of financial institutions. If account A display 1 year of data on their website and account B display 3 years of data, then your TrackWealth portfolio will have the corresponding data initially. This can cause a jump in your total asset on the performance graph one year from today. However, we do store historical data so one year from today, the jump will start from two years prior.

Account fees and cancellation

How do I cancel my TrackWealth service?

You can cancel your TrackWealth service in the Settings page. Click on the “Deactivate” button on the bottom of the screen.

Troubleshooting

I am unable to install the personal data vaults (PDV).

Please email support@trackwealth.com with a description of your issue.

My financial institution is not on the screen of Add Portfolio, how can I add the account information?

We support most banks and brokerage accounts in Singapore but we are still working on adding some. If your institution is not on the list you can manually add it in TrackWealth. We encourage you to email us your institution name and account type at support@trackwealth.com so we can add it to our list of supported accounts in the future.

One of my account is not showing the same balance in TrackWealth as my bank screen.

If you have not synced your accounts then please do so by clicking “SYNC”. If the problem still persist after syncing then there might be an issue with the account. Please email support@trackwealth.com with your TrackWealth email ID, name of financial institution and the last 4 digits of the account number and the account balance appearing on the bank website.

The price of an equity/fund/bond is different between my bank and TrackWealth for a particular day.

Depending on the data source and time of retrieval of data, it is possible for our security prices to deviate by a small amount from your financial institution. If your financial institution display the as of date of their price and it is not the most recent last price as of date then TrackWealth is simply showing a more up-to-date price. However, if you see a large difference in price, then it is possible your security is not mapped to the right instrument in TrackWealth during the setup process. Please email us at support@trackwealth.com with details of the asset and we will look into the issue.

Can I change my TrackWealth account password?

You can change your TrackWealth account password in the Settings screen.

My account information does not seem to be up-to-date.

Your account activities are refreshed when you click the "SYNC" button in TrackWealth. If you login without syncing, TrackWealth will only have the information up to the last sync time and display those positions with updated prices for marketable securities such as equities, funds and bonds. If your account information is still incorrect after you sync, please email support@trackwealth.com with a description on what is out of date for your account. You will need to provide your TrackWealth email ID, name of financial institution and last 4 digits of account number.

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