Really like the website though, so I didn't begrudge them the opportunity to try to pressure me into giving them 100k. Personal Capital Investment Advisor Disclosure: Personal Capital Advisors Corporation is an investment advisor registered with the Securities and Exchange Commission ("SEC").Any reference to the advisory services refers to Personal Capital … Personal Capital now employs 220 advisors and manages more than $7.9 billion in assets for 18,000 clients, according to its Form ADV filed in September. Except it doesnt: If I have 90% stocks and 10% bonds does it mean I think stocks will outperform bonds 9-1? I wanted to write out my impressions of the free Financial Advisor review at Personal Capital. His answer was that "real estate fluctuates up and down, so we don't want to count that". I specifically asked are you sure that my wife's IRA doesn't affect tax loss harvesting for me? It was exhausting. You might actually be the first person to call bullshit on it. The chart looks really good, and then I asked about fees. It didn’t calculate the holdings and of what. I pressed him on this, and he agreed that the gains would be much lower. I sat through the Personal Capital financial advisor pitch and it seemed okay, but nothing special. Decent benefit package. 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. 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. It is a bit deceptive, but that's a problem with financial services in general, not Personal Capital. Holy moly you have way more patience than me. Personal Capital hired advisors from other firms with a significant pedigree. Personal Capital does all that. Personal Capital Advisors Corporation calls itself a “whole new way to manage your money.” Many may take that to mean that it is a robo-advisor.But the firm is actually a human advisory with a tech side, which is to say that in addition to services offered by traditional firms, Personal Capital … They could not answer what their guaranteed SLA is on providing human advice. ), and the wash sale rules would only be triggered if she bought within 30 days of PC harvesting those losses. For most non-edge case folks, a house is a non-liquid, non monetizable asset. Yes, he was sure. Personal Capital is best for people who want to invest at least $100,000 and are willing to pay a bit more in fees for access to a team of personal financial advisors. I bet if you said "no" more than a few times they would stop calling. I found the free tool years ago and have loved using it for a holistic view of all of my assets, and once I hit $200k I started getting alerts in the dashboard about scheduling a free portfolio review with an advisor. Wrong on both counts. He said no. Spousal accounts don't protect against wash sales, and neither do retirement accounts. They also offer the best of the robo-advising features: portfolio rebalancing and review, a variety of investment options, and multiple account types. I explained I rarely review … Additionally, there are asset management services available through Personal Capital. Read our full review for an in-depth explanation of how Personal Capital rates across a number of important feature categories for robo-advisors. A free inside look at company reviews and salaries posted anonymously by employees. I use Personal Capital on a monthly basis to collect my net worth information.I've been at it for over a decade.. Personal Capital Advisors Corporation is a registered investment advisor … For example wash sales and whether or not spousal accounts factor in etc are something 99% of subscribers here probably don't know the answer to. This was 'hand wave and hope he doesn't know more than I do' #3. Here are my thoughts and notes of the session: The review started off with a pretty hard sales pitch, asking me if I want to increase my returns, and if I would be ready to move my assets over to do so. They thought I should have closer to 30% in International. 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 robust personal finance tool that can serve as a one stop shop to manage nearly all aspects of your finances. View side-by-side comparison of costs and benefits. I think large cap will outperform small cap 8-2. Personal Capital. Personal Capital Advisor Pitch Review. If you look at the returns they showed, equal weighting was pretty convincing against SPY but when I compare EQL to SPY - SPY dominates. And then he got sick and didn't reschedule. I explained that a lot of S&P 500 derives revenue from other countries and currency risk/correlation with US market is real. I just checked Vanguard Wellington's performance against all of Personal Capital's portfolios and Vanguard Wellington beat them all 2012-2016 6/30. I don't see the advantage compared to cap weighting. But I think what I like best about Personal Capital is that it doesn’t limit its services to only wealthy clients. Yes? I'm one of the support representatives for Personal Capital. Security is one of the biggest concerns people have with any financial aggregator or tool. … 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. I am on record that Tax-Loss Harvesting is kind of silly - it's like ETFs, and smart beta - cool buzzword, but try to measure the actual impact and you see it's rarely much of a needle mover. They pointed to the 2000s 'lost decade' where US lagged international but I found the comparison to US is very dependent on start year. 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. It was my understanding that you can't TLH inside of retirement accounts, because you aren't paying capital gains taxes on the money. Compare Personal Capital vs Vanguard Personal Advisor and see which is better. 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. It generates income for the blogger. You're actually right about this, but it's MUCH more likely that it wouldn't impact you. Personal Capital Review Personal Capital is an online financial advisor that uses automated software programs to help you manage your money. Take control of your money now with Personal Capital. Join our community, read the PF Wiki, and get on top of your finances! Personal Capital’s robo-advisor option requires you to invest at least $100,000 to get started, and charges a tiered annual fee based on the assets you have under management. They honestly feel like they're 10 years behind in terms of timing though. A lot of he more intricate scenario specific topics are not covered on this forum. But it seems a bit hypocritical to push readers to an advisor service when most of the time these blogs are espousing principles in direct conflict with using an advisor. Ok, so don't you think it's worth moving your assets so we can help you reach your targets?". But if you don't count real estate at all, you might not make the same decision. Personal Capital Free "Advisor" Review Investing After about a year of using Personal Capital to better track my investment portfolio, and after about a dozen cold calls, I finally agreed to a meeting with a Personal Capital Advisor for a free review … Press question mark to learn the rest of the keyboard shortcuts. I tried Personal Capital from summer of 2019 until the beginning of August 2020 and I found I did better managing my portfolio myself. Personal Capital is lighter on personal finance tools and heavier on investment tracking than its competitors. 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. If you wanted a technology-powered algorithm to manage your money at low cost, Betterment was the place to go. 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. I get the affiliate thing. Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. 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. just like joe pesci said in Casino....the fuckin dollars. Press J to jump to the feed. I use them almost daily. Both of these robo-advisors help clients easily set financial goals. I first found Personal Capital when we went looking for alternatives to Mint, the most widely-known personal finance and budgeting app.. After testing Personal Capital for a few months, here’s a review of my experience. What are the better options? Personal Capital is a Silicon Valley digital wealth management company that launched in September, 2011 by former Intuit and PayPal CEO Bill Harris. We hold somewhere around 43% international even. Although it's not a terrible point - he made it shittily, but again, that's part of what 'smart beta' and some of the other fad strategies right now are trying to do. 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. He served as a Board Member of a not-for-profit, graduated from a prestigious university, and his entire profile is available under Advice -> Advisors. 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. Original review: Aug. 28, 2020. I truly doubt it is targeted at people that like to spend their free time posting about the intricacies of safe withdrawal rates on reddit. Yeah, that is why his book sells more than $1000 at ebay and Amazon !!! 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 pretty good tool actually. In other words, does it show how much yield I'd get at the end of the day? He's disregarding real estate because "it fluctuates". He assured me that it was fine. 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. I asked him if he thinks that a 90-10 stock bond allocation means the investor thinks stock will beat bonds 9-1. Read Vanguard Personal Advisor and Personal Capital reviews and ratings at CreditDonkey. 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. Personal Capital also offers a premium advisor service. I lost a lot of respect for /u/gocurrycracker when he shilled for Personal Capital. 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… The platform has over 2 million users with a total of over $12.3 billion assets … Personal Capital vs. Betterment Robo-Advisor — Overview. My reading of OP's real estate situation is that he has investment properties that he's renting out, so it hopefully grows at significantly above inflation. He didn't answer the question and instead showed me a chart where different asset classes were even, because it's important that they be even. Cons. Press J to jump to the feed. He apologize and backed off somewhat, and went about scheduling a review. A free inside look at Personal Capital salary trends based on 111 salaries wages for 58 jobs at Personal Capital. Personal Capital trumpets their retention rate, but the truth is in the advisory space, pretty much every advisor (not brokerage firm; advisor) retains their clients at a 90%+ clip. Personal Capital is designed for higher net worth, fee-savvy investors capable of meeting the $100,000 account minimum. 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. When I tell people I use a tool to do it, they all ask me the same question – is Personal Capital safe? 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. Personal Capital is a hybrid digital wealth management company.They offer a free online and mobile personal finance and investment management app. His answer was no. My real estate assets count for over 50% of my net worth, so of course if I cut my net worth by 60% I'm not going to reach FIRE. Personal Capital Cash and Savings Planner are new offerings for a complete savings solution. His answer was that "real estate fluctuates up and down, so we don't want to count that". Mint was never able to track my investments well. Spousal accounts don't protect against wash sales, and neither do retirement accounts. I think the advisor might have been right here, although I could be missing something. 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. No robo advisor is perfect for everyone, but Personal Capital and Betterment are each great for a wide number of people. In most cases, he was doing the right thing, he just didn't know the 'why' behind it. According to Personal Capital’s research, tax loss harvesting can add after-tax returns of up to 1% per year, a boost that covers Personal Capital’s annual fees alone. Personal Capital: Best for Portfolio Management; ... comprehensive reviews and ratings of robo-advisors. You can use their free software to figure out what sectors you are in, and equal weight them (or get pretty close). Their software provides objective … Just had my portfolio review with a Personal Capital financial advisor, as well. This makes me sad! 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. 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. 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