Personal Capital is a financial service that includes a full wealth management suite with Mint-like money management features. It allows you to sync all your financial accounts into one simple and intuitive platform. The portfolio aggregator and money management services are completely free. The idea is that it will act as a hook for Personal Capital’s paid advisory service.

Personal Capital was launched in 2011 in Redwood, California, by Bill Harris: the former CEO of PayPal and Intuit. As of September 2015, it has 850,000 registered users, tracks $175 billion and has $1.5 billion as assets under management.

Who Is Personal Capital Designed For?

Personal Capital is for people who already understand how to budget, have some savings, and want financial tools that will help them improve the performance of their investments. Anybody can benefit from Personal Capital’s sophisticated (and free) money management tools but people who already have a substantial portfolio and want to save on hidden investment fees that will get the most out of it.

How Does Personal Capital Work?

Personal Capital links all your accounts, from your checking and savings accounts to your investment and 401(k) accounts, so you can get the big picture of your financial health and learn how to get more out of your assets.

Personal Capital’s money management service has four main features:  net worth calculator, fee analyzer, investment checkup and retirement planner.

The net worth calculator uses the data from all your accounts to determine your actual, up-to-date net worth by deducting your debts and liabilities, such as mortgages, loans, and credit card debt, from all the assets you own, such as property, vehicles, IRAs, bonds, stocks or even jewelry.

The fee analyzer takes a look at your investment and retirement accounts and tracks all the custodial fees, inactivity fees, and 12b-1 fees you are being charged on funds and other assets. Once you have a clear view of the fees you’re paying for the privilege of investing, you have a better chance of minimizing costs. The fee analyzer will even calculate how much unnecessary fees are costing you over time.

The investment checkup feature compares the performance of your investments and retirement accounts with the ideal portfolio for your circumstances and goals, as calculated by Personal Capital’s personalized plan. This provides a useful benchmark for your portfolio’s performance.

The retirement planner uses live financial data to determine how prepared you are for retirement. This a flexible planner that allows for additional investments, such as paying for college, buying a home or even getting married.

How Much Does Personal Capital Cost?

Personal Capital’s money tracker and portfolio aggregator services are free. It does charge a fee for its wealth management service. The financial tools mentioned above are completely free, but if you want to receive Personal Capital’s financial advice service, it will cost you. However, it will cost much less than a broker or a private bank. The percentage fee is lower the more assets you have under Personal Capital.

How is Personal Capital Better Than Other Wealth Management Companies?

Personal Capital is a high-quality money management service that allows you to look at your day to day spending and your investments in one secure place. This makes it easy to get a big picture of your financial health. Amazingly, the money management service is free, even though it includes prime financial tools. Granted, the service is designed as a way to funnel clients to its paid financial advisory service, but there are no strings attached, trial version, or hidden fees, just a high-quality free product.

  • Min Account
  • Free
  • Additional Monthly Fee
  • Personal Investing
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0 votes

I'm looking for a better way of managing my investments than paying an 'adviser' at a big name firm. I signed up with PC and they called and asked a lot of questions and scheduled a call to review their proposal. It was like he was reading from a script. When I asked some questions about their view of certain current financial issues the sales guy seemed unhappy and kept saying things like 'look' in a stern voice, and then asked me to call him if I could find someone who ... could answer my questions. I felt like my school teacher was upset with me. I guess I took him off his script which was not my intent. I have a simple rule of thumb when spending money - if they don't treat you well before they get your money then don't complain if they don't treat you well after they get your money. I expect to be able to discuss my concerns before handing over my life savings so PC is not for me... More Less

0 votes

I'm not sure why you can't choose specific pay dates, since not everyone gets paid the same. Options include things like once every thirty days, but that can throw off your cash flow if it doesn't apply to you. I'd really like to put in my specific pay date. Also, the latest upgrade created some issues with the graphs for the accounts on the app. Other than that, this app is pretty solid. I've used other, but still prefer this one.

0 votes

I love that I get to see everything in one spot. Yes, they lack a budgeting tool, but hey, download another app. It doesn't bother me to use two separate apps for all my expenses. Personal Capital lays out everything at your finger tips and shows you when your net worth goes up or down. I check my investments regularly and it is so convenient to be able to do it on my break at work. I love how easy it is laid out and the sheer convenience.

0 votes

I really like Personal Capital except for a few minor details. Initially, it would not connect with my accounts. That was super frustrating, but it managed to fix itself yesterday. So after using it for a short period of time, my only concerns come from the lack of personalization. It would be great if I could create my own categories for income and expenses, especially since I do a lot of "here and there" work and would like to track that separately.

0 votes

Personal Capital doesn't update it's information until the next morning. No matter how much you try to refresh, you will still have to wait. Honestly, I don't have the time to wait around so I can check my financial management app when there are so many other ones out there that update automatically. I haven't had any other issues with the app, but this is enough to make me not use it anymore.

0 votes

I'm constantly on the search for new financial management apps, so I decided to give Personal Capital a shot. Honestly, I'm happy I kept my other financial apps active. Personal Capital is a pretty decent app, but I haven't been able to get it to work properly all of the time. For whatever reason it has stopped updating my accounts, which will fix for a month and then start again. I feel like I've spent more time emailing with the support team than actually using the app.

0 votes

I really dislike that Personal Capital does not have any sort of budgeting features. I get that it is more geared towards your net wealth, but budgeting is an important aspect of that. No one gets to the point of a high net wealth without budgeting somewhere in their lives. If they added a budgeting feature it would make Personal Capital an all around amazing app, but for now I have to use two separate apps for my financial needs.

0 votes

Personal Capital is a great choice! Having all of my investments and accounts in one spot is extremely convenient for us busy individuals. Their user interface is also amazing - SO easy to use. The app can't process accounts if you have them jointly with someone, which stinks. But all of the pros outweigh the cons! I can't add the bank account I share with my husband, but I can add everything else which is great.

0 votes

There are a couple issues with this app, but all in all it is satisfactory. One concern stems from their notifications. When you make a transaction that does not fit into a category, you get a notification but it does not take you directly to the screen to change it. This is just time out of your day to do something silly like correctly categorize a transaction. I really do like how Personal Capital analyzes things like your holdings. It is very in depth, and I enjoy it.

0 votes

I wish I didn't get calls from the Personal Capital guys about their other investment services, because it's just not something I'm interested in. I also find it inconvenient that they feel they can just call me up with a solicited offer whenever they felt like it. Other than the phone calls, I do like Personal Capitals. After declining them, I haven't received anymore calls so I'm happy about that.

0 votes

I have had various financial apps in the past and Personal Capital is my most used one. I do still have to keep another on board to budget for my bills and what not, but Personal Capital is essential to me. It's something I've recommended to friends and something I check weekly. I'm a fan of the various tools it offers over its competitors and will continue to use it. They also offer great service to their users for just being a start up.

0 votes

This tool probably has everything that you would imagine in a personal finance tool. Data analysis, advice, investment tracking and personalized investment manager to help you with your moves. The catch? $100,000 entry cap. Hmmm.. I'll wait.

1 votes

One reason rich people get richer and stay richer than the rest of us is that they have access to hands-on advice on a demand basis. They gladly pay for this advice, viewing it, correctly, as an investment to protect their net worth. Most of the time, the rest of us must make do with “off the rack” services, making any needed adaptations on our own.

But Personal Capital has found a way to combine technology with the human touch to create a wealth management system that is within ... reach of people without six-figure trust funds. They base their pricing on the value of the assets that you have invested, so you also don't have to worry about per-transaction fees. The fee schedule is graduated, with the first $200,0000 billed at .95 percent and reducing to .75 percent for any amount in your portfolio exceeding $4 million. You can also view your dashboard on your computer, tablet or mobile phone, to keep track of your investments in real time. More Less

1 votes

Even though Personal Capital is clearly a lead generator for the financial management company behind it, it's still an excellent personal finance app. A serious competitor for the other big personal finance apps out there, such as Mint.com and Check.me.

Although Personal Capital has all you really need to track your personal finances, it does lack some of the budgeting tools offered by Mint.com and other personal finance apps. Where Personal Capital rules all other personal finance apps is in its tracking and analysis of your investment accounts. For this ... reason, it is one of the best apps at giving you a holistic view of your finances, particularly if you have assets spread over many investment vehicles.

Want to know how your 401k is doing when compared to the major market indices? Wonder how the fees on your mutual fund compare to the market average? With Personal Capital's app, the answer is just a click away.
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1 votes

This is my go-to money management tool. They do many of the same things that Mint.com do, but they have a clear focus on investments. Super easy interface, but they do lack budgeting tools.

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