Is Personal Capital Worth the Hype? A Comprehensive Review
Personal Capital is a software company that offers investment and asset management services to individuals. The company has gained popularity in recent years, with many people touting it as a game-changer in the industry. But is Personal Capital worth the hype? In this article, we’ll explore what Personal Capital is, how it works, and whether it’s worth your attention.
What is Personal Capital?
Personal Capital was founded in 2009 by former PayPal and Intuit CEO Bill Harris. The company offers a range of financial management services, including investment management, retirement planning, and budgeting tools. The main feature of Personal Capital is its investment management service, which provides users with automated investment portfolios based on their financial goals and risk tolerance.
How Does Personal Capital Work?
Personal Capital works by creating a personalized investment portfolio for each user based on their financial goals and risk tolerance. The company uses a combination of automated algorithms and human advisors to manage the portfolios. Users can also track their overall financial health through Personal Capital’s dashboard, which aggregates all of their financial information in one place.
Personal Capital charges a fee based on the value of the assets it manages for each user. The fee ranges from 0.49% to 0.89% depending on the total value of assets under management. While this fee is higher than many other robo-advisors, Personal Capital’s human advisors and personalized investment strategies may make it worth the cost for some users.
Is Personal Capital Worth the Hype?
It depends on what you’re looking for. Personal Capital is a great option for users who want a personalized investment strategy and value human advice. The company’s investment management service is well-designed and easy to use, and the dashboard is a great tool for keeping track of your overall financial health.
However, Personal Capital may not be the best option for users who are looking for a low-cost investment platform. The fees can be relatively high compared to other robo-advisors, which could eat into investment returns over time.
Overall, Personal Capital offers a range of useful financial management tools and a personalized investment management service. Whether it’s worth the cost will depend on your individual financial situation and priorities. If you’re looking for a personalized investment approach and value human advice, then Personal Capital may be worth the hype. However, if you’re looking for a low-cost investment platform, there may be better options available.
Conclusion
Personal Capital is a well-designed financial management tool that offers a range of useful features, including investment management, retirement planning, and budgeting tools. The company’s personalized investment management service and human advisors set it apart from other robo-advisors, but its higher fees may not make it the best option for everyone. Ultimately, whether or not Personal Capital is worth the hype will depend on your individual financial situation and priorities.
