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Daily Capital

Meet Nina

Nina

Client Since 2020

Location:

Connecticut

Occupation/Industry:

Retired

Financial Needs:
Top Money Worry:

Staying financially sound after losing a source of income

Turning Point to Investing with Personal Capital:

Finding out she was overpaying in fees

Top Money Goal:

Being able to keep her long-time home

Top Takeaways

Why Personal Capital

“I feel really relieved that I have a brokerage I can trust, and I’m saving money.”

Working With My Advisor

“He’s very patient, he’s understanding, and he makes it easy for me to ask him questions.”

Using My Dashboard

“It’s a way to see how much money I am spending. I can see I’m in a safe place.”

For years, Nina turned to her adult children for financial advice. Should she keep her older home or downsize? Should she stick with her traditional brokerage firm or switch to a new advisor? Her questions were answered once she signed up for her Personal Capital Dashboard and discovered she was overpaying in brokerage fees. She knew it was time for a change.

Tell us about your financial history.

“I was at Wells Fargo for 13 years. My son noticed that I was charged quite a bit in investment fees. I wasn’t even aware how much my broker cost me every year.

“I didn’t really know how to deal with my finances, so my son took over. He signed me up for the Personal Capital tools, and I got a call from an advisor. My son helped me decide to transfer my money to Personal Capital. I still have financial help and now save on fees.”

What is your biggest financial accomplishment?

“I realized I had enough to stay in my house. I love where I am. I live on a hill, and I’m surrounded by peace and quiet. It would’ve been an emotional stage of my life because I’ve lived here for more than 30 years.”

How would you describe your relationship with your advisor?

“I don’t feel intimidated by him when I talk to him. He’s very patient, he’s understanding, and he makes it easy for me to ask him questions. I feel like I’m talking to an old friend.

“I can just pick up the phone or ask him to give me a call. It’s so much easier now. He is someone who I can trust, even though he is not part of my family. I’m so happy that my son stuck with Personal Capital because I want to be involved.”

Hidden investment fees can have a dramatic impact on your retirement savings.

Working with a fiduciary advisor means you’ll receive advice centering on your best interest.

Lacey Cobb, CFA®, CFP®
Director of Advice Solutions

After losing a source of income, Nina needed to revise her financial plan.

Nina’s finances changed drastically when she lost a regular source of income. After relying on her former husband’s alimony payments, he retired and she lost that income. Unfortunately, her remaining funds were no longer enough to cover her spending.

That’s when her son helped her sign up for the Personal Capital Dashboard. She used the Fee Analyzer tool and realized just how much she was paying in fees with her brokerage firm.

Nina’s son recommended she switch to Personal Capital.

She knew she had to make a change but didn’t know exactly where to move her investments. Nina turned to her children for advice, and her son recommended Personal Capital.

“When he found out that I was paying all this extra money, he told me that he would investigate what my ideal brokerage would cost. I wanted to get help, too.”

On her daughters’ recommendation, she also considered a handful of roboadvisors. But she wanted to maintain the personal touch of an advisor she could consult with.

In the end, it was the combination of lower fees and hands-on service that convinced her to invest with Personal Capital. Though she knew she could have eliminated management fees altogether by going the DIY route, she valued having an advisor to help her manage her finances.

Working with her advisor, Nina finally has peace of mind.

Since joining Personal Capital, Nina has developed a relationship built on trust with her advisor.

One of Nina’s biggest wins since joining Personal Capital was when her advisor told her she could keep her home, which she didn’t think she’d be able to afford. Though the home is paid off, Nina feared the maintenance costs were too much for her. Her advisor showed her she could stay there.

“I listened to my advisor because I love where I am,” she said. “Being able to continue living in my home was a relief.”

Aside from being able to stay in her home, Nina feels like she has a better grasp on her finances overall, in large part thanks to her advisor. “I don’t feel intimidated by him when I talk to him. He’s very patient. With his personality, I feel like I’m talking to an old friend.”

This testimonial is representative of the client’s views at the time it was collected. Advisory services are offered for a fee by Personal Capital Advisors Corporation (“PCAC”), a registered investment adviser with the Securities and Exchange Commission. Registration does not imply a certain level of skill or training. Investing involves risk. Past performance is not indicative of future returns. You may lose money. PCAC is a wholly owned subsidiary of Personal Capital Corporation (“PCC”), an Empower company. PCC is a wholly owned subsidiary of Empower Holdings, LLC. © 2021 Personal Capital Corporation. All rights reserved.

Top Takeaways

Why Personal Capital

“I feel really relieved that I have a brokerage I can trust, and I’m saving money.”

Working With My Advisor

“He’s very patient, he’s understanding, and he makes it easy for me to ask him questions.”

Using My Dashboard

“It’s a way to see how much money I am spending. I can see I’m in a safe place.”

Hidden investment fees can have a dramatic impact on your retirement savings.

Working with a fiduciary advisor means you’ll receive advice centering on your best interest.

Lacey Cobb, CFA®, CFP®
Director of Advice Solutions

Personal Perspectives is a series that highlights client experiences. The featured individual is a client of Personal Capital Advisors Corporation and is not paid for this testimonial.

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