Personal Capital was first founded by Bill Harris, the former CEO of PayPal and Intuit. Personal Capital provides a managed service that is mainly targeted towards clients with larger balances. Additionally, they offer a range of free financial management tools.
Looking for a financial planner? Take a look at SmartAsset, which is free to use.
Their managed approach is a blend of professionally certified human advisors combined with robo-advisors.
If you hold an account that has a balance of more than $200,000, then you will have the perks of two dedicated financial advisors. If your balance is somewhere between $100k to $200k, then you will still get access to this support.
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What Are Personal Capital’s Credentials?
Their trading experience allows investors to manage their own accounts, access their own portfolios, and make trades seamlessly across multiple devices. Access your account on-the-go with mobile and tablet apps for iPhone and Android. Sign up today and see how you can manage your money with this great financial service and get a little something for trying it out.
With this service, you can add bank accounts, IRA, 403(b), 401(k), taxable investments, mortgage, credit cards, and other investments such as the peer-to-peer lending services offered by LendingClub.
One of the fist points to note about Personal Capital is that they tend to have high account management fees that come with the service. This service comes with a 0.89% annual fee, which is higher than other robo-advisors like Wealthfront and Betterment. It’s only when your account balance is at least $1 million do you get discounted rates.
Who Is Personal Capital Suitable For?
Personal Capital is great for those who prefer to have a hands-off approach to the management of their investments. Additionally, this is great for those who are looking for assistance with tax optimizations strategies. Also, if you consider yourself a DIY investor who is looking for free tools to use t othelp you with your financial management strategy, this is the service for you.
Personal Capital is suitable for high-net-worth individuals who through a large amount of invested capital, can access dedicated personal Financial Advisors. It also delivers a comprehensive range of tools to help DIY Investors analyze their own portfolios without needing to buy-in, or pay for portfolio management services.
Summary Of Personal Capital
The free services that are offered with Personal Capital are great even though it is free. Customers will get a comprehensive level of analysis by a computer for a great value. Comparing it to other services of a qualified financial advisor, you are still getting a great deal even though it has a higher than average management cost.
Their tools for retirement planning is great because it is easy to use, and you can play out a number of different scenarios. If you are a DIY Investor, their investment checking tool is also very handy for getting high-level recommendations as well. The retirement planner is second to none; I found it very useful to perform a number of role-playing situations.
With regards to their somewhat expensive Wealth Management Services, it would probably suit those who need regular Financial Advisor Support, in order to make it worthwhile in terms of your return on investment where the fees are concerned. Looking at the robo-advisor scene alone, they are a little less competitive.
If you want to make money fast and quick then you should look into this promotion. Personal Capital is having a referral bonus where you can earn referral bonus of a $20 Amazon gift card when you sign up and link a qualified investment account.
Once you are a member, you can use your own referral link to invite friends and families to join, that means you can earn a big amount of money if you can rack a lot of referrals.
Feel free to share your thoughts and comments about this referral bonus and let us know your experience using Personal Capital. Check out more of our best brokerage bonuses if you want more on HMB! Bookmark this page and check back often for Personal Capital promotions, bonuses, and offers.