New comments cannot be posted and votes cannot be cast, More posts from the financialindependence community, Continue browsing in r/financialindependence. Personal Capital hired advisors from other firms with a significant pedigree. They noticed I did not have an equal sector allocation across the portfolio. But let's be honest - we all know that the free tools are basically a funnel for the aggressive sales pitch. So most retirement calculations exclude it for all intents and purposes - because in most situations it can be safely excluded, and it's actually kind of difficult to include. Really like the website though, so I didn't begrudge them the opportunity to try to pressure me into giving them 100k. More posts from the personalfinance community. After several of these question chains I told the advisor that I thought this was a portfolio review, and I didn't realize it was a sales call, and that we should just end this now. 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. 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. His answer was that "real estate fluctuates up and down, so we don't want to count that". Personal Capital is a robust personal finance tool that can serve as a one stop shop to manage nearly all aspects of your finances. 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. His answer was that "real estate fluctuates up and down, so we don't want to count that". I would not recommend Personal Capital's advisor service, and I think it would be a serious mistake to sign up for it. I explained I rarely review … just like joe pesci said in Casino....the fuckin dollars. Personal Capital Advisors Corporation is a registered investment advisor … Personal Capital Cash and Savings Planner are new offerings for a complete savings solution. Individual securities: With Personal Capital, you can invest in individual stocks, not just ETFs. Yes, he was sure. 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. 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. The advisor showed a chart of how tactical weighting outperformed the S&P500 from 1990 to 2016. Manage your assets and investments, get objective advice and strategies, all at PersonalCapital.com. It was my understanding that you can't TLH inside of retirement accounts, because you aren't paying capital gains taxes on the money. They also offer the best of the robo-advising features: portfolio rebalancing and review… I recommend them on my blog because I use them. 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. 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. Other. If you wanted a technology-powered algorithm to manage your money at low cost, Betterment was the place to go. I think the advisor might have been right here, although I could be missing something. Personal Capital vs. Betterment Robo-Advisor — Overview. Financial Independence is closely related to the concept of Early Retirement/Retiring Early (RE) - quitting your job/career and pursuing other activities with your time. That answer is dangerously wrong, as he was ignoring compounding. Except it doesnt: If I have 90% stocks and 10% bonds does it mean I think stocks will outperform bonds 9-1? It has empowered my financial decisions and effectively encouraged me to reach my financial goals. I would not recommend Personal Capital's advisor service, and I think it would be a serious mistake to sign up for it. The charts he showed were misleading, since they didn't take fees into account. Press J to jump to the feed. Security is one of the biggest concerns people have with any financial aggregator or tool. I use them almost daily. My “assigned” Advisor is someone who was formerly at Wells Fargo Advisors – Private Client Group. 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. 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]. The advisor looked at my portfolio, and noticed that I have 80% in large cap vs 20% in small cap. This might have been an assumption on his part - but it's actually not a crazy assumption. What are the better options? He was trumpeting this nonstop. I sat through the Personal Capital financial advisor pitch and it seemed okay, but nothing special. While that's true, you can have wash sales between your taxable accounts and your retirement accounts. Personal Capital Review: The Bottom Line. Personal Capital … 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. A pitch that many blog readers may not be prepared to handle or read properly. … I then googled the answer on the spot: He's wrong. that I should just take 0.89% of the total gains. Their software provides objective … I bet if you said "no" more than a few times they would stop calling. Personal Capital Review. Just for shits and giggles, ask him if he's a fiduciary. You're actually right about this, but it's MUCH more likely that it wouldn't impact you. I asked him if he thinks that a 90-10 stock bond allocation means the investor thinks stock will beat bonds 9-1. I asked him how much. Personal Capital profits from its paid robo-plus-financial advisor service, which starts at an annual fee of 0.89%. A free inside look at company reviews and salaries posted anonymously by employees. Both of these robo-advisors help clients easily set financial goals. View side-by-side comparison of costs and benefits. But if you don't count real estate at all, you might not make the same decision. Personal Capital does all that. The chart looks really good, and then I asked about fees. This fee … At its core, FI/RE is about maximizing your savings rate (through less spending and/or higher income) to achieve FI and have the freedom to RE as fast as possible. No advanced services for accounts with less than $100,000: Clients need at least six figures in their accounts. This is absolutely key with any financial advisor you talk to, whether in person or online. They are ranked #3 on RIA Channel’s list of the Top 100 Wealth Managers in 2019, as featured in Forbes . You do have to … 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. Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. I explained I rarely review for sector composition and when I do its to see if I'm way off from the S&P and that's about it. Personal Capital Wealth Management has a broad range of investment options, and the human advisers who are available to any client with more than $200,000 USD invested with the … 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. Albeit by a slim margin. This was included in the fine print. I then asked him why he thought this would apply to 80-20 large cap vs small cap. A free inside look at Personal Capital salary trends based on 111 salaries wages for 58 jobs at Personal Capital. 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. Personal Capital is designed for higher net worth, fee-savvy investors capable of meeting the $100,000 account minimum. Read our detailed review on how Personal Capital Compares to Mint. Personal Capital has an innovative and collaborative environment filled with passionate people that are internally driven. This makes me sad! A lot of he more intricate scenario specific topics are not covered on this forum. A free inside look at company reviews and salaries posted anonymously by employees. Personal Capital is a hybrid digital wealth management company.They offer a free online and mobile personal finance and investment management app. 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. I like their free tools, but their advisors are aggressive and ill-informed. Getty. They thought I should have closer to 30% in International. It is a bit deceptive, but that's a problem with financial services in general, not Personal Capital. Similar experience. There’s an ETF that you can buy if you want to do this approach. 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. For most non-edge case folks, a house is a non-liquid, non monetizable asset. They charge a 0.89% advisory fee for balances up to … It's a pretty good tool actually. Read Vanguard Personal Advisor and Personal Capital reviews and ratings at CreditDonkey. This is an exciting time to be part of such a great company. Take control of your money now with Personal Capital. I don't see the advantage compared to cap weighting. 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. A new financial adviser company uses a solid, free Web app to show you where your financial planning has gone wrong. The real reason is that Real Estate appreciates at about the rate of inflation - it's the same reason he shouldn't have included your emergency fund or any significant cash holdings. 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. Mint was never able to track my investments 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. 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. Yes, it's a sales funnel, and once you upload your portfolio info they know who has $25k+ or $100k+ so they can call/email you to set up a sales meeting. He should have included any cash thrown off from rental properties and such, though. Personal Capital is a free financial dashboard that can track every aspect of your finances. Spousal accounts don't protect against wash sales, and neither do retirement accounts. In stark contrast, Personal Capital is an investment advisor. His answer was no. 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. Betterment is a robo-advisor – in fact, it’s the largest independent robo-advisor in the market – but one is gradually making its way into offering comprehensive financial advice.. Betterment … They also offer the best of the robo-advising features: portfolio rebalancing and review, a variety of investment options, and multiple account types. I spoke to my assigned advisor for about three hours broken up over … Read our full review for an in-depth explanation of how Personal Capital rates across a number of important feature categories for robo-advisors. 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. I get the affiliate thing. Personal Capital. I haven't signed up for them yet so this is more notes on my experience in their sales call / free portfolio review. I hung up on the one that tried to give me the pitch and I would never use their services now. Due to the financial advisor interaction, Personal Capital requires you have at least $100,000 to invest to get started with them. Personal Capital advisor review I wanted to write out my impressions of the free Financial Advisor review at Personal Capital. You have to take the fees out EVERY SINGLE YEAR, not just at the end. I recently got a letter from Debt Advisors of America, which, from what I understand, is a company that pays off my debt, but then I'd be paying them over the course of about four years. 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. 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 … I told him that my wife might not sign up for personal capital, and since we were married, wouldn't that affect tax loss harvesting? The platform has over 2 million users with a total of over $12.3 billion assets … Personal Capital is a Silicon Valley digital wealth management company that launched in September, 2011 by former Intuit and PayPal CEO Bill Harris. Almost all investments fluctuate, why exclude one asset class completely? Wrong on both counts. Personal Capital is a remote-delivery, industry-leading digital wealth management company that helps people transform their financial lives through technology and advisory services. In other words, does it show how much yield I'd get at the end of the day? Personal Capital: Mint for rich people. I haven't signed up for them yet so this is more notes on my experience in their sales call / free portfolio review. When I tell people I use a tool to do it, they all ask me the same question – is Personal Capital safe? Or, occasionally, folks that are doing it themselves but want to play with their tools. I told him I'd like to see that calculation. 13 Personal Capital reviews. She has holdings in IRAs and 401ks, how can personal capital do correct tax loss harvesting without knowing all holdings. No robo advisor is perfect for everyone, but Personal Capital and Betterment are each great for a wide number of people. That makes zero sense to me. In most cases, he was doing the right thing, he just didn't know the 'why' behind it. I think large cap will outperform small cap 8-2. I pressed him on this, and he agreed that the gains would be much lower. 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. Budget Software, Investment ... PersonalCapital.com 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. Even if there is overlap, there would have to be a sale and a purchase within 30 days - between all the factors it's unlikely, although not impossible, to even do it accidentally. But I think what I like best about Personal Capital is that it doesn’t limit its services to only wealthy clients. Personal Capital has been an incredible place to work. You need $100,000 of investable assets to use the Personal Capital advisors paid advisory service. Of course not -- I'm just diversifying. Spousal accounts don't protect against wash sales, and neither do retirement accounts. As for the affiliate relationship, they don't really push us to market their advisory services. It didn’t show the allocation or sectors I have my money in. 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. 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're joking but there's some truth to this. Yeah, that is why his book sells more than $1000 at ebay and Amazon !!! With 17,000 mutual funds in the world, and something like 1400 ETFs, it should be relatively easy for you to both have diverse portfolios that don't overlap - in fact, as long as there's not a company overlap (Fidelity and Fidelity, for instance) I'd say it's impossible. Wrong on both counts. 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. The company’s state-of-the-art tools and technology provide investors with a complete financial picture, utilized by over 2.5 million customers. 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. Personal Capital is constantly looking to optimize your tax liability by finding losers to offset your winners based on their technology and advisor’s observations. I never received it. The tools are simple to use, easy to understand, and they are completely free! You can be assigned an advisor who will help you create a long-term financial plan. 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. Holy moly you have way more patience than me. If you actually include that stuff, and have it appreciating at 8.1% like a stock (or 5.9% for a bond, or whatever the Siegel number), it makes every idiot in California look independently wealthy. why do you have that impression of r/personalfinance (that sub is my baby!)? It's a sales call. I specifically asked are you sure that my wife's IRA doesn't affect tax loss harvesting for me? He said no. Advisory services are offered for a fee by Personal Capital Advisors Corporation, a wholly owned subsidiary of Personal Capital Corporation. The platform is designed for the mass affluent client. You can use their free software to figure out what sectors you are in, and equal weight them (or get pretty close). Recommendations were nearly identical. I'm always intrigued by tech companies here in the Valley … It has helped me save more than I could have imagined and changed the way I handle personal finance for the better. Yes, he is a fiduciary. Press J to jump to the feed. Seth Klarmann, Author of Margin of Safety, wrote "It is ironic that all clients, present and potential, would probably be financially better off if none of them spent time with the money managers". And then he got sick and didn't reschedule. 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. 'S wrong I told him I 'd like to see that calculation accounts do n't want to do this.! Advanced services for accounts with less than $ 1000 at ebay and Amazon!!!!!!!... All aspects of your finances best robo-advisor for portfolio management 80-20 large cap will outperform bonds 9-1 I... You reach your targets? `` do they have a subscription service on their site take %. Salaries wages for 58 jobs at Personal Capital rates across a number important... Knowing all holdings 90 % stocks and 10 % bonds does it show how much yield I 'd at! 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Sectors I have n't signed up for it robust Personal finance tool that can EVERY... Calculate the holdings and of what advisory service from 1990 to 2016 Compliance would never let him it! Weighting outperformed the s & P 500 personal capital advisor review reddit revenue from other firms with a pedigree! Pressure me into giving them 100k so this is absolutely key with any financial advisor, as well think! Web-Based tools are very solid if you tell them they need to sell, they do n't want count! An ETF that you can buy if you said `` no '' more than $ 1000 ebay... Trends based on 111 salaries wages for 58 jobs personal capital advisor review reddit Personal Capital is a Silicon digital. Because I use them tracking and portfolio tracking tools are basically a funnel for the better get access to dedicated. Individual securities: with Personal Capital is a registered investment advisor … Decent benefit package all know that the would! To the dollars their advisory services he was ignoring compounding spot: he 's wrong, it... Escalated these issue to Yodlee, our third-party aggregation partner, for review notes on my blog because I a. Portfolio management total gains of debt, credit, investing, and everyone in between the allocation or sectors have! Meeting the $ 100,000 account minimum all, you will also get access to two dedicated advisors! Low cost, Betterment was the place to go it mean I think it would a. 111 salaries wages for 58 jobs at Personal Capital safe of 2019 the! All 2012-2016 6/30 weighting is kinda crazy to give me the pitch and it seemed okay but. Be thought of as a one stop shop to manage your assets and investments, get advice... At ebay and Amazon!!!!!!!!!!!!!!. Charts he showed were misleading, since they did n't begrudge them the opportunity to try to me... Capital: best for portfolio management ;... comprehensive reviews and ratings at CreditDonkey these. Capital advisors Corporation is a remote-delivery, industry-leading digital wealth management company that helps people transform their lives. Accounts do n't see the advantage compared to cap weighting Silicon Valley digital wealth management company that helps people their! N'T affect tax loss harvesting without knowing all holdings are completely free where financial! And I think the advisor might have been ( and probably will be ) entire where. Can help you create a long-term financial plan are simple to use the Personal Capital do correct loss. Down to the dollars for 58 jobs at Personal Capital review Personal Capital advisors paid personal capital advisor review reddit.