Leading the Digital Wealth Management Revolution

in Personal Capital News by

The digital wealth management revolution has finally arrived, and Personal Capital has emerged as the leader in the movement to change the way people manage their money.

This week, Personal Capital Advisors’ assets under management crossed the $350 million threshold – representing a staggering growth rate of 10% month over month.  Over two years, that represents growth of over 2,000%. According to a study by RIADatabase, that’s a faster growth rate than any traditional investment advisor on the market (except for a smaller firm, which had less growth on an absolute basis).  This hyper-growth is a signal that the digital wealth management age has arrived.

Since its launch in 2011, Personal Capital has striven to revolutionize the wealth management industry by leading its digital transformation.  So what do we do?  We provide sophisticated financial planning and investment portfolio management services and deliver them through both the Personal Capital apps and the Personal Capital advisory team.

Personal Capital is absolutely unique that we’re both a technology company and a financial services company. Unlike traditional advisors, Personal Capital has digital apps that help people better understand their money and track it on the go.  And the personalized advice from our team of financial advisors is delivered digitally at the convenience of the client– through the apps, over the phone, by video conference, and through co-browsing.  Unlike online-only robo-advisors, which offer excellent services but are technology-only, Personal Capital Advisors offers high-touch service that ensures each client gets individualized attention.

Technology

Personal Capital provides free apps that enable our users to understand and monitor their finances in easy and intuitive ways.  By linking all of your accounts to your Personal Capital Dashboard, you get personalized snapshot of all of your financial accounts so that you’ll immediately be able to make smarter decisions about how to spend and save your money and how to design your portfolio.

Dashboard

We’re constantly building new tools to improve the experience, such as the Investment Checkup, which we just launched to enable you to actually diagnose the health of your own portfolio.  Our apps have been recognized by Apple and Google as among the best apps in 2013.

Wealth Management

Personal Capital Advisors provides our clients with the personalized attention that they need to manage their money effectively.  Our team of advisors works one-on-one with clients to develop personalized wealth strategies.  On the investing side, we use time-tested asset allocation principles – with improvements.  To start, we do tactical weighting for US equities and low cost ETFs for other asset classes.  Next, we develop tax management plans for every portfolio we manage, including tax location, tax efficient security selection and regular tax-loss harvesting throughout the year.  Our team monitors and rebalances portfolios and works with clients over time to make sure strategies stay up to date.  And finally, we’re always available for help with any financial issue.  In sum, Personal Capital Advisors provides to all of its clients the individualized, concierge-style service that has previously been reserved for the ultra-wealthy.

A New Era

So, what truths can be gleaned from Personal Capital Advisors’ meteoric growth? Perhaps most obvious is the fact that wealth management has officially stepped into the future. As an industry, wealth management has been among the last bastions of financial services to remain in the brick and mortar era. While 80% of people bank online, 40% of people pay their bills online and 40% of people find their homes online – the number has been much smaller in wealth management.

What’s been behind the adoption of digital in retail financial services generally? Digital options are often more convenient and user-friendly.  And frequently, digital means lower transaction costs.  So why has adoption been lower in wealth management?  In truth, there’s been a dearth of options that do these things without compromising the integrity of the service – until now.

Personal Capital is the nation’s first digital wealth management firm.  We combine high tech and high touch to deliver financial planning and investment portfolio management services.  We also do it in a way that’s affordable.  While traditional wealth management companies can offer you guidance in managing your investment portfolio, their advice can cost you up to 40% of your investment return per year. With Personal Capital, you’ll have access to mobile apps and other tools for free. The free service includes investment insights, a personalized email every week with updates on your net worth, and helpful personal finance content on our blog, Daily Capital. Best of all, you’ll never pay a dime for any of the advisory services offered unless you need additional expertise from one of our highly-qualified advisors for a fee of less than 1%.

At Personal Capital, we never rent, sell, or trade your personal information to anyone, ever. We have multiple levels of security and our management team founded PassMark Security, the company that designed the online authentication system that is now used by most major banks, including Bank of America. Just one of many security features used by Personal Capital software to protect your information is multi-factor authentication, which requires users to personally approve all devices used to access a Personal Capital account. Personal Capital also uses military-grade encryption to protect your data.  And our daily summary of all transactions in all of your accounts allows you to easily spot unusual or potentially fraudulent activity.

Don’t get left behind. Join the nearly 500,000 Personal Capital users who are taking command of their wealth by using our free financial tools. Open a free account with us today and join the digital wealth management revolution!
Sign up Today to Try Personal Capital’s Free Software

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We at Personal Capital have one goal in mind: to build a better money management experience for consumers. That’s why we’re blending cutting edge technology with objective financial advice. We believe this is the best way to empower individuals and their money. Subscribe to our blog and join our empowered financial community.

One Response

  1. Barbara Friedberg

    Barbara Friedberg

    It’s so important to keep on top of your money today, using all available tools.

    Reply

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Disclaimer. This communication and all data are for informational purposes only and do not constitute a recommendation to buy or sell securities. You should not rely on this information as the primary basis of your investment, financial, or tax planning decisions. You should consult your legal or tax professional regarding your specific situation. Third party data is obtained from sources believed to be reliable. However, PCAC cannot guarantee that data's currency, accuracy, timeliness, completeness or fitness for any particular purpose. Certain sections of this commentary may contain forward-looking statements that are based on our reasonable expectations, estimate, projections and assumptions. Forward-looking statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Past performance is not a guarantee of future return, nor is it necessarily indicative of future performance. Keep in mind investing involves risk. The value of your investment will fluctuate over time and you may gain or lose money.