Author Topic: Personal Capital Advisor ?'s  (Read 1899 times)

soccerluvof4

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Personal Capital Advisor ?'s
« on: February 26, 2014, 11:04:26 AM »
I am just curious what anyone thought or if they have worked with a Personal Capital Advisor?

We started using the free program through MMM a few weeks back and I was called by them with a basic introduction and then that an adviser would call me today. He called me today and basically we exchanged questions and then be said he would free of charge come back to me on Friday with his opinions on a few things I should do based on what he learned about me.  I guess that max is 1% and less depending on how much you invest with them.  Presently i doubt i will use the services but definitely will compare to what others have said. In my questioning of how they make money since no advertising he was clear in that in financial services.  So just curious about peoples experiences, did you like what you heard and or do you still use them for advice and so on.  Anything you would have to share is more than I currently know now. Thanks in advance.

pipercat

  • Bristles
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Re: Personal Capital Advisor ?'s
« Reply #1 on: April 12, 2014, 06:59:22 AM »
I'm curious to know what happened with this.  I recently signed up, and I've been getting the calls to schedule a "consultation".  Is there any amount of free advice?  I don't intend to pay for an advisor at this point.

TomTX

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Re: Personal Capital Advisor ?'s
« Reply #2 on: April 12, 2014, 07:23:56 AM »
Seems a lot safer (and cheaper!) to post a case study here. It's pretty good self-regulation - if someone forgets a critical (or minor) point, someone else is sure to bring it up.

little_owl

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Re: Personal Capital Advisor ?'s
« Reply #3 on: April 13, 2014, 08:57:32 AM »
We started the process for an initial consultation....which IS free...obviously, their goal is to manage your finances for you (which has a fee), but the initial consultation was no fee.

We did the first call, and our advisor was so unimpressive, we just cancelled the second call and declined to move forward with them.  This is a good reminder for me to close our account!

The first call was "gathering info," and it took about and hour.  There were a few points during the call where the advisor's questions / statements were just a bit uninformed or "generic," and the advisor just did not seem that savvy.  I am trying to recall specifics, but after that call we basically said thanks but no thanks....so it is a bit unfair to them (we never actually heard their recommendations), but we also felt like we had wasted enough time with them that we were not eager to move forward.

I am surprised MMM had such a good experience with them, frankly, I expect he got to hear from their "top advisors" and they probably over-invested in ensuring he had a good experience.

Anyhow, that's my experience and I do think that these forums (and others) are just as valuable as a professional advisor.  Plus, they force me to learn more and own the understanding of what I do with my money. 

pipercat

  • Bristles
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Re: Personal Capital Advisor ?'s
« Reply #4 on: April 14, 2014, 07:43:18 PM »
Thanks for sharing.  Now I don't feel so bad for not returning their calls (not that I ever actually felt bad, but now I don't feel like I'm missing out)!