Personal Capital Overview: A FREE Tool to Analyze Investments

Personal Capital was created to make your monetary life simpler and extra organized. On this in-depth Personal Capital evaluation, we’ll share all the particulars about what it will possibly give you.

We’ll let you know about all the options this software program program provides, worth, what reviewers are saying, and extra.

This fashion you’ll know if Personal Capital is the correct alternative for serving to you handle and develop your cash.

personal capital logo

Abstract

Personal Capital is a free budgeting instrument that’s sturdy and provides investing instruments at no cost as effectively. For these , they do provide monetary planning providers.

Execs

  • Free budgeting instruments
  • See web price in minutes
  • Nice customer support

Cons

  • Wealth administration charges
  • No credit score monitoring

What’s Personal Capital?

Personal Capital is a web-based instrument that’s comparable to Mint. It helps you handle your funds. The corporate was based in 2011 and registered with the SEC in 2012.

At the moment, Personal Capital has over $21.9 billion in belongings below administration. They’ve over 3.1 million customers in all 50 U.S. states.

Nonetheless, they’ve a further characteristic for patrons. The main target isn’t just in your spending and money movement, however on serving to you handle your investments and web price as effectively.

Personal Capital additionally provides wealth administration providers for individuals of many alternative asset ranges. Wealth administration providers are separate from cash administration instruments.

It’s a one-stop store to view and handle your entire accounts in a single place. Additionally, they provide the additional advantage of getting monetary advisors and monetary planners obtainable to you.

You don’t have to use that a part of the service to reap the benefits of the monetary administration instruments. Nonetheless, it’s there if you happen to want or need to use it.

How Does Personal Capital Work?

Utilizing Personal Capital is simple. You begin utilizing it by connecting your accounts to the software program.

You possibly can join many several types of monetary accounts, establishing your accounts to be viewable from the Personal Capital website.

Listed below are the kinds of accounts you possibly can join:

  • Retirement funding accounts
  • Non-retirement funding accounts
  • HSA accounts
  • Financial institution accounts
  • Mortgage mortgage accounts
  • Auto mortgage accounts
  • Personal mortgage accounts
  • Bank card accounts
  • Pupil mortgage accounts

You possibly can just about add any asset or legal responsibility account to Personal Capital. Their ultra-secure system ensures that your entire data is secure and safe.

Portfolio view with net worth and holdings on Personal Capital Screenshot of a Personal Capital account

As soon as your account is ready up, you possibly can test in each day to see practically each facet of your monetary image. You possibly can monitor data reminiscent of:

  • Earnings
  • Spending habits
  • Your funding totals
  • Asset quantities
  • Legal responsibility quantities
  • Your complete web price

Having all of this data in a single place may also help you make asset and day-to-day cash administration simpler.

With a number of clicks of your mouse, you possibly can see an enormous image of your monetary scenario. As well as, you possibly can see the place you want to be with Personal Capital’s monetary roadmap instrument.

This “big picture” view may also help you attain the monetary and retirement objectives you have got set, all with out leaving the Personal Capital web site.

How A lot Does Personal Capital Price?

Top-of-the-line elements about Personal Capital is that the corporate provides its cash administration instruments completely freed from value.

All you have got to do is open a Personal Capital account so as to reap the benefits of the free cash administration instruments.

Wealth administration providers via Personal Capital will value you cash, though the charges are comparatively affordable:

  • $100,000 to $1M: 0.89%
  • $1M to $3M: 0.79%
  • $3M to $5M: 0.69%
  • $5M to $10M: 0.59%
  • $10M+: 0.49%

Nonetheless, you aren’t required to use Wealth Administration so as to reap the benefits of the free monetary instruments.

Word that though Personal Capital cash administration instruments are freed from value, you will notice ads for different monetary providers which are geared towards your exercise on the location.

Subsequent, let’s discuss concerning the options of Personal Capital’s monetary administration instruments.

Key Options Of Personal Capital

Personal Capital has various options you need to use to assist make managing your monetary life simpler.

Right here’s a short abstract of every of the options Personal Capital has to provide.

Personal Capital Monetary Instruments

Personal Capital has a number of monetary instruments that may assist you to finances, monitor, and save your cash.

Budgeting

Personal Capital may also help you routinely handle your earnings and bills with its budgeting instrument.

You’ll find a way to see how a lot cash goes in, how a lot goes out, and the place it’s going.

From there, you’ll find a way to get snapshots of your earnings vs. your bills. You need to use Personal Capital’s pre-set finances classes, or make your personal customizable classes.

And whenever you hook your financial institution accounts and bank card accounts up to Personal Capital, your expenditures will routinely populate for simple viewing and administration.

Internet Price Monitoring

Personal Capital may also help you retain monitor of your web price whenever you add your financial institution accounts and funding accounts, together with mortgage accounts, to the location.

You possibly can add your own home worth on to your account as effectively. Personal Capital makes use of Zillow to handle your own home’s worth.

As well as, you possibly can add the worth of autos and different private property to your web price sheet on Personal Capital as effectively.

Funding Checkup

After monitoring your danger tolerance and different components, they’ll suggest asset allocation for you.

For instance, perhaps you haven’t rebalanced your portfolio shortly. It’s doable that you possibly can be too closely invested in a single space due to the expansion being greater in that asset class than others.

For those who click on on the “Investment Checkup” within the “Investing” tab, you will get your suggestions. They could counsel a complete rebalance of your investments.

Or it could be one thing easy. For example, your asset allocation could also be too aggressive. If that’s the case, Personal Capital might counsel including bonds to enhance diversification.

Money Circulate Analyzer

Personal Capital additionally has a Money Circulate Analyzer instrument on their app. This instrument helps you monitor weekly, month-to-month and yearly earnings and spending habits.

Monitoring previous data might be an effective way to modify your cash selections to create a safer monetary future.

It’s these little, non-tracked bills that may add up to massive cash spent earlier than you understand it.

Charge Analyzer

The Charge Analyzer is a instrument that may analyze the charges you might be paying on your non-retirement and retirement accounts like your 401k. 

Additionally, it would present you the way these charges will impression your funding account’s progress over time.

Plus, with the supply of their free on-line assets, it helps you make an knowledgeable resolution on how to make investments for retirement based mostly in your particular person wants and objectives.

You Index

The You Index is a characteristic that tracks your monetary funding efficiency. You need to use it to examine that efficiency to benchmarks just like the S&P 500.

personal capital app on cell phonePersonal Capital has a FREE cell app

Cellular App

This app may be very complete, but straightforward to use. It helps you handle and monitor your cash proper out of your smartphone. And the Personal Capital cell app is free.

Downloadable Knowledge

For those who use Chrome or Firefox as your laptop browser, you possibly can obtain the information out of your Personal Capital account onto your private laptop.

Invoice Administration

Personal Capital additionally has a characteristic that may present you an inventory of your upcoming payments and their due dates.

This characteristic might be actually useful in guaranteeing you don’t pay payments late and get hit with late charges.

Retirement Paycheck

This Personal Capital characteristic can present you the way to withdraw cash out of your retirement accounts in the best way that’s most useful for you.

It’s going to assist present you the way a lot you possibly can spend every month in retirement, and the way lengthy your cash will final.

Schooling Planner

One other characteristic from Personal Capital is the Schooling Planner. It will possibly assist you to examine school prices and make a plan for saving for them.

Personal Capital Money Administration

Personal Capital additionally provides money administration providers. The Money Administration account is accessible as a sole proprietor or joint account.

It’s meant for holding and transferring bigger quantities of money round. There is no such thing as a minimal steadiness requirement for this account and no month-to-month service price.

You possibly can hook this account up for Direct Deposit and hyperlink to your checking account for month-to-month payments as effectively.

Withdrawals up to $100,000 per day are allowed, and there may be combination FDIC insurance coverage of up to $1.5M.

Personal Capital’s Money Administration account is an interest-bearing account. See the Personal Capital web site for present rates of interest.

Personal Capital Wealth Administration Providers

As talked about earlier, Personal Capital provides Wealth Administration to their clients. They’ve three ranges of wealth administration providers for you to select from.

Funding Service

Their Funding Service is accessible for individuals with belongings of $100,000 to $200,000. With this service you get entry to the next options:

  • Entry to free on-line instruments and dashboard
  • Monetary advisory crew entry
  • 401k recommendation
  • 24/7 buyer assist entry
  • Assist Precedence Providers
  • And extra

This service is a good product for you in case your belongings meet the $100,000 to $200,000 degree.

Wealth Administration

The Wealth Administration plan is for you if you happen to’ve bought between $200,000 and $1,000,000 in managed belongings. You get all the options talked about above with this service in addition to:

  • Two devoted monetary advisors
  • Full monetary and retirement plan
  • Prolonged customer support advantages
  • Faculty financial savings and 529 planning
  • And extra

This service is for you if you happen to’ve already made a strong begin together with your funding portfolio and need to enhance upon it.

Personal Shopper

The Personal Shopper service is accessible to you if you happen to transfer no less than $1,000,000 of belongings to Personal Capital for administration. Moreover the options above, as a Personal Shopper member you’ll get:

  • Precedence entry to CFP advisors, Funding Committee and Assist
  • Property, tax and legacy portfolio building
  • Property legal professional and CFP collaboration
  • Personal banking providers
  • Personal fairness and hedge fund evaluation
  • And extra

It contains all the added advantages that ought to include the exhausting work you’ve executed to set up this asset degree.

As mentioned earlier, Personal Capital prices a set, low price for his or her advisory providers.

This implies you might be assured that your Funding Advisor at Personal Capital gained’t make funding suggests to you based mostly on which funds and merchandise pay a better fee.

As a substitute, your advisor will base their options on what they really feel is the very best services or products on your objectives.

What Others Are Saying About Personal Capital

Personal Capital has a Trustpilot rating of 4.1, which is taken into account a “great” rating.

As of this writing, 71% of the practically 700 opinions listed on Trustpilot have been “excellent.” Poor and dangerous opinions comprised 8% of opinions.

A lot of the destructive opinions on Trustpilot revolved round connectivity or customer support points.

Personal Capital’s score with the Higher Enterprise Bureau is an A-. Word that the BBB solely had 5 complaints listed for the previous three years.

As with Trustpilot, most of these complaints revolved round points with the dashboard and with customer support when working to get assist with these points.

Subsequent, let’s reply some continuously requested questions on Personal Capital.

FAQs

Is Personal Capital Protected?

Personal Capital makes use of AES-256-bit encryption to preserve your knowledge secure. As well as, they’ve a multi-factor identification course of when logging in.

The corporate’s safety crew works constantly to shield your data from the most recent hacking schemes as effectively.

Does Personal Capital promote my private data?

The Personal Capital web site says that the corporate gained’t promote your knowledge.

Nonetheless, notice that an organization consultant might name you to share details about different firm or accomplice merchandise.

Is Personal Capital actually free?

Sure, Personal Capital’s cash administration instruments are actually free. As talked about above, you’ll pay an annual price if you happen to use them for wealth administration.

Abstract

Personal Capital has one thing for everybody, from the young-and-just-starting-out grownup to the independently rich avid investor, and everybody in between.

Personal Capital may also help you get your funds on extra strong floor. No matter your earnings, debt load, web price or present monetary scenario, they’ll help.

So whether or not you want help in monitoring bills and budgeting, or rising your plush nest egg to an excellent greater quantity, Personal Capital might be of use to you.

Are you trying to find a one-stop store that permits you to view, handle and assess each facet of your monetary portfolio?

If sure, then contemplate educating your self on the advantages obtainable from Personal Capital. You could simply discover what you’re in search of.

Learn more about investing here, and check out the Robin Hood app for an alternative way to invest.

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