Personal Capital debuts investment management tool

The company's latest web product to track portfolios joins the efforts of rivals including Jemstep, Betterment and FutureAdvisor

Nov 13, 2013 @ 9:45 am

By Trevor Hunnicutt

+ Zoom

Personal Capital Corp. on Tuesday announced the launch of a free companion product to its online investment advisory platform.

Personal Capital's new service, called Investment Checkup, evaluates users' investments and other assets, and recommends a target asset allocation and guidance for constructing the recommended portfolio. It also provides data showing how well existing investments are performing.

For an additional fee that tops out at 0.95% a year, the firm, a SEC-registered investment adviser, will manage the portfolio. They have apps for iOS and Android.

The move makes Personal Capital, which manages more than $252 million for paying clients, the latest to offer a free digital product that emulates some of the functions of a traditional, bricks-and-mortar financial firm. Personal Capital's competitors, including Jemstep, Betterment and FutureAdvisor, have also unveiled similar rollouts.

“Effectively using technology and leading with free to engage customers is really going to set winners apart from losers,” said Jim Del Favero, chief product officer for Personal Capital.

The firm is run by former Paypal Inc. chief executive William H. Harris Jr., who said last month that the firm plans to hire 100 new advisers over the next two years.

0
Comments

What do you think?

View comments

Recommended for you

Sponsored financial news

Latest news & opinion

New Jersey fines David Lerner Associates for nontraded REIT sales

Firm will pay $650,000 for suitability, compliance and books and records violations.

Report predicts $400 trillion retirement savings gap by 2050

Shortfall driven by longer life spans and disappointing investment returns.

Wells Fargo will ramp up spending to lure brokers

Wirehouse, after losing 400 brokers in first quarter, is bucking trend among rivals who have said they are going to cut back on spending big bucks recruiting veteran advisers

DOL fiduciary rule pushes indexed annuity carriers to develop new products

Insurers are introducing fixed-rate deferred annuities with income guarantees to circumvent BICE.

Trump is gutting rules that Corporate America hates

With executive orders, bureaucratic actions and unprecedented use of an obscure statute, the administration has killed or postponed dozens of regulations.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print