Now includes the following tools:
Vanguard Portfolio Watch
Fidelity GPS analysis
Morningstar X-ray tool
Personal Capital
TDAmeritrade Morningstar X-ray analysis
Edit 02/10/2017. I also show how to use TDAmeritrade's version of Morningstar portfolio X-ray starting at this post:
viewtopic.php?f=10&t=150267&p=3233805#p3233805
Edit 12/12/2016. I also show how VPW tells me my portfolio AA "varies from your long-term target." viewtopic.php?p=3146881#p3146881
Edit 9/14/2015. I also show how rebalancers can use the Fidelity Guided Portfolio Summary (GPS) in the same way below: viewtopic.php?p=2248876#p2248876
and how to use the Morningstar Portfolio X-ray tool: viewtopic.php?p=2248882#p2248882
1. My desired asset allocation. I think it is well-known on the forum that I like to slice-and-dice with a small-cap and value tilted portfolio. Furthermore, I like to have US and foreign equities about equal. I also like prime numbers. So my desired asset allocation is:
29% US equities
29% foreign equities
31% fixed income
05% short-term
07% TIAA Real Estate Account (TREA) [Update: In March 2020, I sold all my TREA and moved the money into a bond fund, so references to TREA below no longer reflect my current asset allocation.]
Those add up to 101% which is a nice prime number. You will see that the 5% short-term is just because it is a prime number and Vanguard pulls out some short-term stuff with the Portfolio Watch tool from the various funds I own. In reality, I have about 35% fixed income for my asset allocation.
2. My assets. I enter all my assets at Vanguard under the "My Accounts/Balances & holdings/Outside investments" page. I just manually enter these accounts and do not have the share amounts automatically updated, Because the share amounts change rarely, I just update the share amounts manually every once in a while.
3. Portfolio Watch. I click on My Accounts/Portfolio Watch and it presents how it thinks my assets are divided up. Right now it looks like this:

a. I have previously told Portfolio Watch (PW) my desired asset allocation. Since PW does not let one enter a value for "Other" and I want TREA, I usurp PW's meaning for "Short-term reserves" to be my meaning for "TREA". I put 6% there, but I suppose I should change it to 7% Besides PW requires 100% and doesn't like prime numbers like I do (see how I don't worry about it?).
b. See that "OK, Your current asset allocation closely matches your long-term target." I can stop here if I want.
c. Below the graphic is "View my asset allocation …." which I click on to get to the next post.
[Edit 05/22/2017]
Also below the graphic is a new link "Learn more about this analysis" which goes to to the "fine print" explanation of this tool which has been added since this discussion first started. The fine print explains some of the limitations of Vanguard Portfolio Watch. I discuss one limitation in an update to this thread: viewtopic.php?p=3378020#p3378020
Edit to add:
d. I do not use ANY balanced funds that mix equities and fixed income or that mix domestic and foreign equities. This allows a relatively clean analysis by all the tools I will show. (Note: we now (2019) have 2 very small inherited IRAs that are in Vanguard LifeStrategy Moderate Growth and Fidelity Freedom Index 2025)
[… I'm dividing this into several posts in this thread … so please wait for the next installment …]