Author Topic: Personal Capital call Friday  (Read 1639 times)

Outside the Box

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Personal Capital call Friday
« on: August 09, 2017, 05:19:07 PM »
I got the semi-regular "we haven't talked to you since 2014" call from Personal Capital today since they think they can get some of my money.

Mainly so I can hear the updated version of their sales pitch, I allowed them to schedule it for Friday. I'll update this post after the call with anything interesting or with any answers I might get to questions here.

Mustachians, anything you want me to find out that I might not think to ask?

I already know I don't like their strategy, since it involves using individual stocks instead of index funds, and their expense is high to me compared to an indexing strategy on autopilot.

ysette9

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Re: Personal Capital call Friday
« Reply #1 on: August 09, 2017, 05:32:36 PM »
I'm surprised you are wasting your time. They leave me a voice message about once a quarter or so, and I always imagine them salivating over my account balance. There is nothing they can tell me at this point that would cause me to change my investing path.
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Outside the Box

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Re: Personal Capital call Friday
« Reply #2 on: August 09, 2017, 05:36:56 PM »
It's 30 minutes of entertainment for me. I last endured it in 2014.

waltworks

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Re: Personal Capital call Friday
« Reply #3 on: August 09, 2017, 06:19:05 PM »
I hung up on the lady after about 20 seconds. She then emailed me to "thank you for the humbling experience of being hung up on. That has never happened to me in the finance industry."

Am I just a huge jerk or what?

-W

Outside the Box

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Re: Personal Capital call Friday
« Reply #4 on: August 09, 2017, 06:32:49 PM »
I mean... did you schedule the call and then hang up once it began? Or did you just hang up on the scheduling call person?

I've always said "no thanks" to the scheduling person in the intervening years and they never gave me a hard time. They said they'd just check back in a year or so if that worked for me.

They pay for the free service with paying clients. You don't owe them listening to the spiel, but you could just say "no thanks" and ask them to add you to their do not call list.

waltworks

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Re: Personal Capital call Friday
« Reply #5 on: August 09, 2017, 06:49:46 PM »
No, no scheduled anything. Just a cold call "hi I'm so and so from Personal Capital" at which point I hung up.

So yeah, I'm a jerk. In my defense I run a business and get a TON of spam calls that start the same way "Hi I'm so and so..." and I just sort of reflexively hang up...

-W

Outside the Box

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Re: Personal Capital call Friday
« Reply #6 on: August 09, 2017, 07:52:44 PM »
I have to admit the contents of the passive aggressive email you got afterward made me chuckle.

Travis

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Re: Personal Capital call Friday
« Reply #7 on: August 09, 2017, 10:28:34 PM »
I hung up on the lady after about 20 seconds. She then emailed me to "thank you for the humbling experience of being hung up on. That has never happened to me in the finance industry."

Am I just a huge jerk or what?

-W

Really? You've never been hung up on in the process of selling something? Somebody is either lying or hasn't been doing this for very long.

Rural

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Re: Personal Capital call Friday
« Reply #8 on: August 10, 2017, 12:33:46 AM »
I hung up on the lady after about 20 seconds. She then emailed me to "thank you for the humbling experience of being hung up on. That has never happened to me in the finance industry."

Am I just a huge jerk or what?

-W

Really? You've never been hung up on in the process of selling something? Somebody is either lying or hasn't been doing this for very long.


How on earth did they get your email address and know to connect it to your phone number?

prognastat

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Re: Personal Capital call Friday
« Reply #9 on: August 10, 2017, 07:34:05 AM »
I hung up on the lady after about 20 seconds. She then emailed me to "thank you for the humbling experience of being hung up on. That has never happened to me in the finance industry."

Am I just a huge jerk or what?

-W

Really? You've never been hung up on in the process of selling something? Somebody is either lying or hasn't been doing this for very long.


How on earth did they get your email address and know to connect it to your phone number?

I would assume through his account as a personal capital user.

Outside the Box

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Re: Personal Capital call Friday
« Reply #10 on: August 10, 2017, 08:46:30 AM »
How on earth did they get your email address and know to connect it to your phone number?

They only call you if you have $100k+ of investable assets that they could manage. You have to already be using their free service to monitor your investments. So they already know how much $ you have, your email, and your phone #.

Heroes821

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Re: Personal Capital call Friday
« Reply #11 on: August 10, 2017, 11:41:40 AM »
They've called me before and I'm not at the 100k+ margin yet, unless they count my house with mortgage...

Regardless the best response to that email should have been "my phone got disconnected I was waiting for a call back can I get your manager's number now" or something snarky

sirdoug007

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Re: Personal Capital call Friday
« Reply #12 on: August 10, 2017, 11:49:11 AM »
I was entertaining scheduling a call and went so far as to set a date.

Then the woman asked if I would describe my situation as having $100k outside of retirement accounts. Almost all my money is in 401ks so I had to say no.

Then she basically (but politely) hung up on me!  Well quickly ended the call anyways when she knew she couldn't move my money over to their accounts.

I appreciate that they are striving to bring financial planning to the masses but it seems like they could lay out the value of their services better and have people calling THEM rather than the other way around!


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Travis

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Re: Personal Capital call Friday
« Reply #13 on: August 10, 2017, 11:57:48 AM »
I let them run their sales pitch on me a year or so ago and the call pretty much ended with "I don't need you to manage my assets, but when I'm ready to retire I might give you a call for tax and estate questions."  Fast forward about 6 months and I'm getting those periodic voice mails again trying to get me to talk to them.

farmecologist

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Re: Personal Capital call Friday
« Reply #14 on: August 10, 2017, 01:45:31 PM »
I let them run their sales pitch on me a year or so ago and the call pretty much ended with "I don't need you to manage my assets, but when I'm ready to retire I might give you a call for tax and estate questions."  Fast forward about 6 months and I'm getting those periodic voice mails again trying to get me to talk to them.

I love Personal Capital.  I am also getting frequent voicemails...and just ignore them.  However, I do realize that the 'financial planning' side of things is how they produce revenue for the business....and is how they fund the free side of it.  So I'm glad that some people are taking them up on it!  :-)

Rural

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Re: Personal Capital call Friday
« Reply #15 on: August 10, 2017, 05:19:31 PM »
I hung up on the lady after about 20 seconds. She then emailed me to "thank you for the humbling experience of being hung up on. That has never happened to me in the finance industry."

Am I just a huge jerk or what?

-W

Really? You've never been hung up on in the process of selling something? Somebody is either lying or hasn't been doing this for very long.


How on earth did they get your email address and know to connect it to your phone number?

I would assume through his account as a personal capital user.


Ah, I'd thought he was getting sales pitches trying to get him to sign up with PC rather than getting sales pitches while already a customer. This version is much less creepy, but I'd definitely make it clear on the first sales call that I'd be moving all my money elsewhere if I got a second.

Indexer

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Re: Personal Capital call Friday
« Reply #16 on: August 10, 2017, 05:42:08 PM »
I hung up on the lady after about 20 seconds. She then emailed me to "thank you for the humbling experience of being hung up on. That has never happened to me in the finance industry."


I work in the investment industry. Thankfully, I'm at the point where I don't have to do that anymore, but I have experience calling potential clients. Yes, I had people hang up on me. If she has never been hung up on it was her first day, and if that is how she reacts I expect her last day isn't far away.

DarkandStormy

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Re: Personal Capital call Friday
« Reply #17 on: August 11, 2017, 01:36:48 PM »
OP - how did the call go??
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Outside the Box

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Re: Personal Capital call Friday
« Reply #18 on: August 14, 2017, 08:42:39 AM »
OP - how did the call go??

It was apparently an exploratory call to update my info and then prepare the full spiel for the next call. Initially, that was going to be this Friday, but I had to reschedule for 8/25. I'll update after the real call and slide deck presentation.

WildJager

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Re: Personal Capital call Friday
« Reply #19 on: August 15, 2017, 02:20:46 PM »
I had a cold call from them once.  When I said thanks, but no thanks, I basically got yelled at.  "How do you know you don't want our service if you don't listen to what we have to offer!"  Umm, you're a financial planning service.  I pretty much got the gist if what you're pitching, thanks.

I like their website, though they need to work on their people skills a bit it seems.

ysette9

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Re: Personal Capital call Friday
« Reply #20 on: August 15, 2017, 02:48:00 PM »
My experience with them has actually been positive on the customer-relation front. They have been low-key and respectful. I just choose not to select their product.
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VoteCthulu

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Re: Personal Capital call Friday
« Reply #21 on: August 15, 2017, 05:59:25 PM »
Back when I used them I got a call from my "personal" advisor wanting to discuss tax strategies. I said no thanks and he seemed upset as he asked why I wasn't interested. When I replied that all of my investments were in tax advantaged accounts he just said "Yeah, that's a good reason" and said goodbye.

Later I wondered why my personal advisor didn't know where my investments were before calling me.

This was 4+ years ago, so things could have changed since then.

dcamnc

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Re: Personal Capital call Friday
« Reply #22 on: August 16, 2017, 09:35:39 AM »
They keep calling and emailing me, I just ignore it to be honest. I don't answer calls from numbers/people I don't know, so they haven't caught me off guard yet. I appreciate their aggregation tool, but I wish I could just pay them a little cash or something instead of being hit up for services.

Another Reader

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Re: Personal Capital call Friday
« Reply #23 on: August 18, 2017, 05:32:18 AM »
Has anyone noticed they are publishing articles from a life insurance salesman pushing annuities and whole life/universal life insurance?  The articles by their writers state in most cases term life is appropriate, but they give the salesman a platform as well.

Oddly, they don't bother to call here.  Must not be their target demographic...

farmecologist

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Re: Personal Capital call Friday
« Reply #24 on: August 18, 2017, 10:54:09 AM »

I've heard that your 'net worth' has to reach a certain level before they get serious about calling.  May or may not be true though.

Outside the Box

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Re: Personal Capital call Friday
« Reply #25 on: August 18, 2017, 11:22:53 AM »

I've heard that your 'net worth' has to reach a certain level before they get serious about calling.  May or may not be true though.

I believe you have to have $100k of non-401k investable assets. Like taxable, cash, IRA, Roth IRA, etc.

farmecologist

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Re: Personal Capital call Friday
« Reply #26 on: August 18, 2017, 11:44:22 AM »

I've heard that your 'net worth' has to reach a certain level before they get serious about calling.  May or may not be true though.

I believe you have to have $100k of non-401k investable assets. Like taxable, cash, IRA, Roth IRA, etc.


Yep - that sounds correct.   $100K+ of 'investable assets'  ( i.e. - money they can get their hands on ).