There have been (and probably will be) entire decades where US lags super far behind international. Personal Capital’s management fees are significantly higher than pure robo-advisor platforms such as Wealthfront and Betterment – 0.89% annually for clients with less than $1 million in assets under management, compared with 0.25% to 0.35% at the typical robo-advisor. It has empowered my financial decisions and effectively encouraged me to reach my financial goals. They thought I should have closer to 30% in International. His answer was that "real estate fluctuates up and down, so we don't want to count that". Its web-based tools are free, but the company also offers paid advisory services. I then googled the answer on the spot: He's wrong. I would not recommend Personal Capital's advisor service, and I think it would be a serious mistake to sign up for it. His answer was no. Personal Capital is best for people who want to invest at least $100,000 and are … It didn’t show the allocation or sectors I have my money in. A pitch that many blog readers may not be prepared to handle or read properly. Yeah, that is why his book sells more than $1000 at ebay and Amazon !!! … After reviewing your setup, I have escalated these issue to Yodlee, our third-party aggregation partner, for review. Personal Capital vs. Betterment Robo-Advisor — Overview. Personal Capital: Mint for rich people. You might actually be the first person to call bullshit on it. Otherwise Compliance would never let him use it with a client. They charge a 0.89% advisory fee for balances up to … I asked him how can his retirement guide be accurate if it doesn't count real estate, which is where most of American's net worth it. Personal Capital’s advantages. His team's goal is to give everyday people more control over their finances by using their technology for free while modernizing personal wealth management advice over the Internet. Individual securities: With Personal Capital, you can invest in individual stocks, not just ETFs. He's disregarding real estate because "it fluctuates". They noticed I did not have an equal sector allocation across the portfolio. I'm one of the support representatives for Personal Capital. My experience is that r/personalfinance does a good job of pushing well diversified, low fee investments, and especially telling people to stay away from nearly all financial advisors. You can get a FREE portfolio review by a licensed fiduciary advisor when you sign up for Personal Capital and connect $100,000 or more in investable assets. And then he got sick and didn't reschedule. If he'd reviewed her portfolio he should have been able to tell you "Yes, it can happen, but it won't, because we use Vanguard and Schwab and your wife is in Fidelity" or so on. Albeit by a slim margin. One of our financial advisors suggested that we reach out to you in regards to your issue in trying to sync your WeBull and Robinhood accounts. It didn’t calculate the holdings and of what. This makes me sad! Personal Capital Advisors Cons. No robo advisor is perfect for everyone, but Personal Capital and Betterment are each great for a wide number of people. Read our detailed review on how Personal Capital Compares to Mint. Some of his statements (IRAs and spousal accounts don't count for wash sales) were plain wrong, and could get an investor in tax trouble. Other. I pressed him on this, and he agreed that the gains would be much lower. I bet if you said "no" more than a few times they would stop calling. I specifically asked are you sure that my wife's IRA doesn't affect tax loss harvesting for me? His answer was that "real estate fluctuates up and down, so we don't want to count that". He assured me that it was fine. What are the better options? Personal Capital (see our review) targets the investment mid-range — this includes primarily investors with a net worth of between $25,000 and $2 million in liquid assets.It is an … He should have included any cash thrown off from rental properties and such, though. Betterment and Personal Capital are pioneers since the early days of the robo-advisor industry but the similarities end quickly because they contrast starkly across key factors, like fees, tools, and human advice.. Betterment began life as a pure robo-advisor. The chart looks really good, and then I asked about fees. I agree with them on point #2. Personal Capital is a Registered Investment Advisor with over $12B in assets under management. And if you disregard 60% of my net worth, that's going to change your asset allocation in the investable assets in a skewed way -- for example, I might be very close to FIRE thanks to real estate, so might want more bonds to reduce my risk at a tradeoff of lower portfolio return rate. Personal Capital Cash and Savings Planner are new offerings for a complete savings solution. Personal Capital does all that. 13 Personal Capital reviews. Personal Capital is designed for higher net worth, fee-savvy investors capable of meeting the $100,000 account minimum. Do they have a subscription service on their site? Today we’re excited to announce the launch of Personal Capital Cash, a new high-yield account with aggregated FDIC insurance that covers balances up to $1.25 million, and Savings Planner, a savings tool to help people plan annual retirement savings, an emergency fund, and pay down debt. They also offer the best of the robo-advising features: portfolio rebalancing and review… I then googled the answer on the spot: He's wrong. I thought this to be a valid point, as I definitely can't equal weight sectors on my own easily or in an automated way. Personal Capital is a hybrid digital wealth management company.They offer a free online and mobile personal finance and investment management app. I would not recommend Personal Capital's advisor service, and I think it would be a serious mistake to sign up for it. I asked him how much. Yes, he was sure. This is an exciting time to be part of such a great company. He said that he didn't know, but that it could be calculated. Almost all investments fluctuate, why exclude one asset class completely? This was 'hand wave and hope he doesn't know more than I do' #3. How do you think Personal Capital makes money? Recommendations were nearly identical. Personal Capital is a is a FinTech company founded in 2009 and has more than $8 billion in assets under management as of November 2018. Personal Capital hired advisors from other firms with a significant pedigree. Disclosure statement and acknowledgment: The statement is provided to you by ("Author") who has entered into a referral agreement with Personal Capital Corporation ("PCC"), through which Author will be paid between $70 and $150 for each person who uses this webpage to register with Personal Capital and links at least $100,000 in investable assets to Personal Capital… I asked how much I would have after fees, and he said since the fee was 0.89%, that I should just take 0.89% of the total gains. As for the affiliate relationship, they don't really push us to market their advisory services. Press question mark to learn the rest of the keyboard shortcuts. They noticed I did not have an equal sector allocation across the portfolio. Personal Capital Reviews ( 1 Review ) Website: . Budget Software, Investment ... is the online home of Personal Capital, a company that says customers can use their free software in order to simplify their financial life as well as advice that will help you invest better. Salaries posted anonymously by Personal Capital employees. why do you have that impression of r/personalfinance (that sub is my baby!)? that I should just take 0.89% of the total gains. Accordingly, you don't have to worry about buying/selling anything inside them - there's no benefit to it, but you don't have to worry about impacts either. It was my understanding that you can't TLH inside of retirement accounts, because you aren't paying capital gains taxes on the money. If I were going to pay for management, I'd probably stick with 0.30% at Vanguard or a Betterment type of robo-management for even lower fees. This made me feel like either I could argue with him each step of the question chain, or just give up and say yes so he could get on with it. Press question mark to learn the rest of the keyboard shortcuts, [insert humblebrags here] /r/FI's Official Analyst, [FIREd at 33 in 2013 in Raleigh NC][FI Blogger][married, 3 kids]. Yup, I was missing something, It was my understanding that you can't TLH inside of retirement accounts. Getty. It's at least moderately defensible if he told you to pull the number off of the annualized return....although still not mathematically correct, at least it would have given you an idea of the 'bite' of the fee. The advisor showed a chart of how tactical weighting outperformed the S&P500 from 1990 to 2016. That answer is dangerously wrong, as he was ignoring compounding. A new financial adviser company uses a solid, free Web app to show you where your financial planning has gone wrong. The tools are simple to use, easy to understand, and they are completely free! Personal Capital advisor review I wanted to write out my impressions of the free Financial Advisor review at Personal Capital. The whole experience felt like a high pressure sales pitch from a person that didn't understand the underlying product, and was trying to close a sale. I spoke to my assigned advisor for about three hours broken up over several sessions as he did an analysis of the portfolio. A lot of he more intricate scenario specific topics are not covered on this forum. Or, occasionally, folks that are doing it themselves but want to play with their tools. He was trumpeting this nonstop. The most redeeming aspect of personal capital is the ability analyse multiple accounts and track expenses for free. But let's be honest - we all know that the free tools are basically a funnel for the aggressive sales pitch. Personal Capital is a registered investment advisor providing free services to attract more affluent site users – particularly those with investable assets of at least $100,000. I LOVE Personal Capital. Due to the financial advisor interaction, Personal Capital requires you have at least $100,000 to invest to get started with them. Can't help but question how so many blogs push Personal Capital via affiliate links. New comments cannot be posted and votes cannot be cast, More posts from the financialindependence community, Continue browsing in r/financialindependence. Just for shits and giggles, ask him if he's a fiduciary. Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. Personal Capital author review by Barbara Friedberg Personal Capital is an automated investment service that targets the mass-affluent and those with a minimum of $25,000 of investable … I haven't signed up for them yet so this is more notes on my experience in their sales call / free portfolio review. We accept a fiduciary obligation to act in your best interest, and our advice must be aimed at making money for you, not for us. They were hoping you were in the last group. He apologize and backed off somewhat, and went about scheduling a review. Overall it wasn't a high pressure sales pitch but it was a sales pitch for equal weight, equal sector investing with automated rebalancing during volatility. Just had my portfolio review with a Personal Capital financial advisor, as well. I just think it is gimmicky at best (and unethical at worst) that so many bloggers push affiliate links such as this so aggressively, at times placing multiple links into a single article. He said no. If you look at the returns they showed, equal weighting was pretty convincing against SPY but when I compare EQL to SPY - SPY dominates. I told him I'd like to see that calculation. The charts he showed were misleading, since they didn't take fees into account. I lost a lot of respect for /u/gocurrycracker when he shilled for Personal Capital. Personal Capital offers a robo-advisor investing service and a suite of free services and helpful financial planning tools —including the widely popular free Personal Capital Android and Apple mobile app that’s like having a financial planner in your pocket. You're joking but there's some truth to this. You know, this actually came up when I got the call from my adviser, and it was like 2-3 days after I watched the John Oliver segment about 401(k)s. The guy that called me was, in fact, a fiduciary. Personal Capital is our best robo-advisor for portfolio management. I thought this to be a valid point, as I definitely can't equal weight sectors on my own easily or in an automated way. I use Personal Capital on a monthly basis to collect my net worth information.I've been at it for over a decade.. You have to take the fees out EVERY SINGLE YEAR, not just at the end. I just don't see how the personal capital advisor can help with retirement in any meaningful way if they don't look at real estate holdings. Ok, so don't you think it's worth moving your assets so we can help you reach your targets?". When we dug deeper into why, it was because he wasn't counting any of my real estate assets. They could not answer what their guaranteed SLA is on providing human advice. Same. I'm not convinced here. A free inside look at Personal Capital salary trends based on 111 salaries wages for 58 jobs at Personal Capital. They're reasoning is you can get the same return, with less risk as over the years no sector is the top sector every year in the past 10 years- its random. Wrong on both counts. You do have to … If you have a qualifying net worth and want more personal attention and handholding with your investment decisions, Personal Capital … I don't want my retirement date to get too screwy because it happened to land on such a time period, when it could have been avoided with better diversification. It's a sales call. Spousal accounts don't protect against wash sales, and neither do retirement accounts. Personal Capital is a robust personal finance tool that can serve as a one stop shop to manage nearly all aspects of your finances. I wanted to write out my impressions of the free Financial Advisor review at Personal Capital. The platform is designed for the mass affluent client. I then asked him why he thought this would apply to 80-20 large cap vs small cap. Their software provides objective … The person I spoke to on the phone mentioned that there were risks, but glossed over them and I didn't really get a good feel for what those risks were. Cons. We hold somewhere around 43% international even. It generates income for the blogger. That makes zero sense to me. It is a bit deceptive, but that's a problem with financial services in general, not Personal Capital. Read Vanguard Personal Advisor and Personal Capital reviews and ratings at CreditDonkey. While I wouldn’t use them as my sole budgeting system, they work extremely well in conjunction with other budgeting programs or a personal budget you’ve created on Excel. But I think what I like best about Personal Capital is that it doesn’t limit its services to only wealthy clients. I'm always intrigued by tech companies here in the Valley … Personal Capital … And if it did happen, usually the wash sale is rather small - a reinvested dividend is not going to disallow a significant loss, for example. There’s an ETF that you can buy if you want to do this approach. Press J to jump to the feed. The financial services offered are something else... cause it all comes down to the dollars. The advisor presented tax loss harvesting as a benefit. I asked him if he thinks that a 90-10 stock bond allocation means the investor thinks stock will beat bonds 9-1. The asset allocation recommendation for someone 10 years from retirement seemed aggressive with 26% allocated to bonds and cash and 74% in stock assets. It has helped me save more than I could have imagined and changed the way I handle personal finance for the better. Yes? My name is Carlos. He apologize and backed off somewhat, and went about scheduling a review. In stark contrast, Personal Capital is an investment advisor.