Personal Capital hires investment bank to find buyer, funding - peHUB

Personal Capital hires investment bank to find buyer, funding - peHUB
Personal Capital, the hybrid robo-adviser with $1.5 billion in assets under management, is seeking a buyer and is in its fifth funding round, according to private equity website peHUB.
DEC 09, 2015
Personal Capital, the hybrid robo-adviser with $1.5 billion in assets under management, is seeking a buyer and is in its fifth funding round, according to private equity website peHUB. The online wealth management company, headquartered in Redwood City, Calif., is valued at $500 million and has hired investment bank Evercore, the article states. peHUB is produced by Buyouts, a private equity magazine. Personal Capital representatives did not immediately respond for comment. The company received $2.3 million in two seed funding rounds in 2009, followed by four more rounds of funding. In 2010, it received $10 million in a Series A round; in 2011, $25 million in a Series B funding; in 2013, $25 million in a Series C round; and in 2014, $50 million in a Series D round, according to CrunchBase. Last month, Personal Capital slashed its account minimum to $25,000 from $100,000, in a move to attract younger clients with smaller assets.

Latest News

Advisor moves: Raymond James lands $1.25B team as Merrill loses two
Advisor moves: Raymond James lands $1.25B team as Merrill loses two

Iowa's Greenwood Wealth Partners exits D.M. Kelly as UBS and Ameriprise win Merrill Lynch recruits in California and Florida

Never a losing day: CFTC alleges $950 million forex Ponzi scheme
Never a losing day: CFTC alleges $950 million forex Ponzi scheme

Less than 1% of pool funds went to actual trading, CFTC says

Fintech bytes: Northwestern Mutual picks Jump for enterprise AI
Fintech bytes: Northwestern Mutual picks Jump for enterprise AI

Plus, SEIA builds a governed data foundation for its in-house AI and Snappy Kraken debuts a read-only marketing coworker for advisors.

People moves: AllianceBernstein names Onur Erzan as next CEO
People moves: AllianceBernstein names Onur Erzan as next CEO

Broadridge, Wedbush and Alaris Acquisitions have also filled senior wealth management roles with hires from J.P. Morgan, Osaic and SageView.

SPONSORED In the Age of AI, Trust Becomes the Advisor's Greatest Asset

As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor

SPONSORED Direct indexing webinar targets tax-loss harvesting amid market swings

Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains