Investment Club Accounting Software Compared: HWSW vs myICLUB vs bivio vs iValuation
There are only a handful of software options built specifically for investment clubs. Here's an honest look at what each one does well, where it falls short, and who it's actually built for.
The four main options
HWSW — He Who Shares Wins
This productBuilt by an investment club treasurer frustrated with the existing tools. Covers both UK (Section 104, CEA, Form 185) and US (§704(c), K-1 figures, LTCG/STCG) tax accounting. Browser-based, mobile-accessible, with AI portfolio analysis and a free tier. In early access.
myICLUB
The incumbent US market leader, endorsed by BetterInvesting (the US investment club body with 35,000+ member clubs). US-only, browser-based, with reasonable US tax support. The UI is dated, pricing is opaque and typically higher than competitors, and there's no UK support. K-1 preparation is a paid add-on in most plans.
bivio
The main myICLUB competitor in the US. Generally considered to have a better user experience than myICLUB and comparable tax functionality. US-only, no UK support, no free plan. Better at stock research integration than myICLUB, but the accounting is similarly limited to US tax rules.
iValuation
The primary UK option. Handles HMRC Section 104 and Capital Equalisation Adjustments, but it's a Windows desktop application — no browser access, no mobile, no real-time prices. Has been around for years and is used by established clubs, but hasn't kept pace with modern web software. Pricing isn't publicly listed.
Feature comparison
| Feature | HWSW | myICLUB | bivio | iValuation |
|---|---|---|---|---|
| Browser-basediValuation is Windows desktop only | ✓ | ✓ | ✓ | ✗ |
| Mobile access | ✓ | ✗ | ✗ | ✗ |
| Free plan | ✓ | ✗ | ✗ | ✗ |
| Transparent pricingmyICLUB pricing hard to find | ✓ | ✗ | ✓ | ✗ |
| UK tax support | ✓ | ✗ | ✗ | ✓ |
| HMRC Section 104 | ✓ | ✗ | ✗ | ✓ |
| Capital Equalisation | ✓ | ✗ | ✗ | ✓ |
| US tax / K-1 support | ✓ | ✓ | ✓ | ✗ |
| §704(c) cost basisRare — needed for in-kind contributions | ✓ | ✗ | ✗ | ✗ |
| LTCG / STCG split | ✓ | ✓ | ✓ | ✗ |
| Real-time prices | ✓ | ✗ | ✗ | ✗ |
| AI portfolio insights | ✓ | ✗ | ✗ | ✗ |
| Bank statement importHWSW uses AI to parse statements | ✓ | ✗ | ✗ | ✗ |
| Member portal | ✓ | ✓ | ✓ | ✗ |
| Voting & governance | ✓ | ✗ | ✗ | ✗ |
Pricing
HWSW: Free to start. Paid plans for larger clubs.
Transparent pricing page — no sales call needed.
myICLUB: ~$149–$199/year (varies by plan)
K-1 preparation is typically an add-on. Pricing not prominently displayed.
bivio: ~$99–$149/year
Clearer pricing than myICLUB. No free plan.
iValuation: Not publicly listed
Contact required for pricing.
Who should use what
- UK club: HWSW or iValuation. HWSW if you want a browser-based, modern experience; iValuation if your club already uses it and doesn't want to migrate.
- US club, BetterInvesting member: myICLUB is the BetterInvesting-endorsed option, but bivio and HWSW are worth evaluating — especially if you care about UI quality or the tax add-on pricing bothers you.
- US club, not a BetterInvesting member: bivio or HWSW.
- Club that accepts in-kind stock contributions: HWSW — it's the only one with §704(c) Traditional Method tracking.
- New club, budget-conscious: HWSW (free to start).
Try HWSW free
No credit card required. Join the waitlist for early access to the only modern investment club platform built for both UK and US tax rules.