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

Maryland bars advisor over charging excessive fees to clients
Maryland bars advisor over charging excessive fees to clients

Blue Anchor Capital Management and Pickett also purchased “highly aggressive and volatile” securities, according to the order.

Wave of SEC appointments signals regulatory shift with implications for financial advisors
Wave of SEC appointments signals regulatory shift with implications for financial advisors

Reshuffle provides strong indication of where the regulator's priorities now lie.

US insurers want to take a larger slice of the retirement market through the RIA channel
US insurers want to take a larger slice of the retirement market through the RIA channel

Goldman Sachs Asset Management report reveals sharpened focus on annuities.

Why DA Davidson's wealth vice chairman still follows his dad's investment advice
Why DA Davidson's wealth vice chairman still follows his dad's investment advice

Ahead of Father's Day, InvestmentNews speaks with Andrew Crowell.

401(k) participants seek advice, but few turn to financial advisors
401(k) participants seek advice, but few turn to financial advisors

Cerulli research finds nearly two-thirds of active retirement plan participants are unadvised, opening a potential engagement opportunity.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today’s choppy market waters, says Myles Lambert, Brighthouse Financial.

SPONSORED Beyond the dashboard: Making wealth tech human

How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave