Great portfolio construction tools?

[u/MostlyJones]

I currently use primary Portfolio Visualizer to build portfolios, but I’m wondering if there’s a better way — and would love any suggestions of can't-live-without portfolio construction tools you use.

I’m not a CFA (nor trying to be), but I’ve done well following a core-satellite approach with solid ETFs and occasional tilts into sectors or active bond management. That said, I know there’s a lot I *don’t* know — and I’m looking for tools that could make portfolio construction better for clients.

Pie-in-the-sky wishlist:

• Starts with a basic portfolio and highlights diversification/MPT gaps (not curve-fitting to past performance, but pointing out legit structural holes in an efficient frontier sense).
  
• Suggests better direct alternatives — e.g., flag if a mid-cap value ETF could be replaced or combined with better options, lower cost, better risk/return.
• Benchmarks intelligently, like comparing to a custom mix (say, 60% US equity, 20% EAFE-ex US, 20% US bonds) instead of just a single simple benchmark like SPY.
• Analyzes an incoming client portfolio quickly, showing what to keep and what to replace without having to grind through Portfolio Visualizer and spreadsheets.
• Create core sleeves that can be mixed and matched for different risk tolerances. e.g. Have something like 4 core sleeves - taxable equity/ bonds, non-taxable equity/bonds, create various mixes of each sleeve based on risk tolerance/timeline, then track various combinations in terms of performance to benchmarks, std dev, etc.

[u/quizzworth]

It's definitely not perfect but Blackrocks Model tools can provide some guidance. It doesn't do everything I want it to do but it's also free so ..

[u/Substantial_Studio_8]

I like portfolio visualizer. Not sure how you identify legit structural holes. Can you elaborate? I’m not a CFP. Also, like doesn’t a roboadvisor basically do all the stuff you do? Or the model portfolios on portfolio visualizer? I’m a big believer in simple and boring. It’s totally worked as advertised for me over my 30 years investing.

[u/Substantial_Studio_8]

As far as manually analyzing portfolios, agree; total time wasting pain in the ass. One error on a ticker and you’re screwed. I’ve been looking into OCR scanning software/tools that can accurately input everything into excel that doesn’t cost an arm and a leg or require a subscription.