Personal Capital Reviews

About Personal Capital

With Personal Capital's free computer program and mobile application you can link each one of your accounts into their system and view your entire portfolio at a glance. There are a multitude of capabilities that it offers including tracking your income, tracking your spending, viewing your savings and evaluating your investment performance.

Each night they backup their systems and in the process your most recent data is reflected the very next day. A nifty set of graphs and charts are provided to show you an overall picture of your current financial standing as well as future projections.

Using Personal Capital’s software and the resources available on their site it is possible to create a solid financial structure and even transform your portfolio for greater returns on your investments. An advisor is assigned to your account when you sign up; they offer fee-based and free services to help you make more money in the end. Because these advisors have a fiduciary obligation to you, you can be confident that their advice is unbiased and is given to you in your best interest.

Maximizing your money using Personal Capital is possible when you analyze the costs associated with your investments and 401k savings. You can also track your progress as you move toward meeting your short term and long term goals. With help from their advisors, it is also possible to identify risks within your investments and build a more strategic financial plan.

Comparing Personal Capital with another similar money management program called Mint, you will notice many differences that will come in handy when deciding which one to use. Personal Capital’s service is suited for those who are more interested in the performance of their investments as well as saving for their retirement. Mint is limited in their investment capabilities and is strongly suited to help individuals budget and track expenses.

Personal Capital has a clearly visible fee structure with no hidden costs. Their security platform is highly regarded as one of the best. They offer free help setting up your asset allocation which is extremely beneficial for those who don’t know where to allocate their money. They also have a unique feature where you can deposit money into your account and transfer money between accounts. A downfall to Personal Capital is that if you don’t meet the $100,000 investable asset threshold, you cannot retain Personal Capital’s money management services.

Mint is great for beginners who are trying to get out of debt or simply manage their money and increase their savings. Mint’s services enable you to set up e-mail alerts through your account for late fees, bill reminders, rate changes, large purchases, and even notify you when you have gone over budget. A downfall to Mint is that it is catered to the masses, so it lacks the personal attention you may be looking for. One other negative aspect to Mint is that they constantly try to upsell their services and products, this can get in the way of what you are trying to accomplish.

Overall, depending on what you are looking for in a money management tool, you must decide what your goals are and choose a program that will help you reach them. Some online reviews recommend starting off with Mint to gain control of your finances and then moving forward to Personal Capital when you are ready to focus on investing and preparing for retirement.

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1 ‘Personal Capital’ Review
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Great money management/investing tool

Reviewed By Marc on September 12, 2013, New York

Have tried Mint, but personally find this to be better suited for managing investments in addition to tracking your bank accounts, credit card spending, loans, etc..

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