Author Topic: Personal Capital Wealth Management  (Read 997 times)

ian055

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Personal Capital Wealth Management
« on: September 21, 2018, 09:52:10 AM »
Any one here pay personal capital to manage their assets? I only signed up for PC for the tracking. I really like it. But I got a call from an advisor and decided to just hear him out, since I'm using their software for free. A few days later I emailed him to tell him I would just continue to handle my own portfolio because I didn't feel comfortable paying 89 bps on my entire portfolio and having an actively managed portfolio. He responded by telling me that he showed me how PC beats the market by a couple of points even after fees and his words "So obviously the fee isnít the issue, but out of curiousity, what is really the issue for you?". Then tried to tell me they aren't actively managing a 120 individual stock taxable portfolio that he proposed. The overall tone and wording of his emails was very patronizing.

Anyways, I was just curious if anyone here has PC manage their assets and what their thoughts are? Are you getting good returns vs the major market indices?


PizzaSteve

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Re: Personal Capital Wealth Management
« Reply #1 on: September 21, 2018, 10:48:09 AM »
No.  If he is willing to refund the fees, if there portfolio does not beat the S&P by at least 1 pt, then sure....Surely they are confident enough in their approach to share the risk and rewards with you.

Ask him.

thd7t

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Re: Personal Capital Wealth Management
« Reply #2 on: September 21, 2018, 10:56:05 AM »
Well, I love PizzaSteve's idea, but about a minute of googling showed that this guy is just lying. 

ian055

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Re: Personal Capital Wealth Management
« Reply #3 on: September 21, 2018, 11:42:57 AM »
Well, I love PizzaSteve's idea, but about a minute of googling showed that this guy is just lying.

Yeah. I agree. I wasn't planning on handing my money over to them anyways. But he surely didn't not make a good case for them.

PizzaSteve, I wish I would've thrown that out there. I've just dropped it and moved on. But if he comes back, then I'll ask for that :D

smallstache

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Re: Personal Capital Wealth Management
« Reply #4 on: September 21, 2018, 01:59:44 PM »

Then tried to tell me they aren't actively managing a 120 individual stock taxable portfolio that he proposed.


PC only churned 80 companies when they gave me the sales pitch five years ago.  I declined.

PizzaSteve

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Re: Personal Capital Wealth Management
« Reply #5 on: September 21, 2018, 02:13:30 PM »
Well, I love PizzaSteve's idea, but about a minute of googling showed that this guy is just lying.

Yeah. I agree. I wasn't planning on handing my money over to them anyways. But he surely didn't not make a good case for them.

PizzaSteve, I wish I would've thrown that out there. I've just dropped it and moved on. But if he comes back, then I'll ask for that :D
It was tongue in cheek.  Not worth wasting your time unless he is buying you a very expensive dinner at a restaurant you wouldnt be able  to get reservations at.

ian055

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Re: Personal Capital Wealth Management
« Reply #6 on: October 03, 2018, 01:12:22 PM »

It was tongue in cheek.  Not worth wasting your time unless he is buying you a very expensive dinner at a restaurant you wouldnt be able  to get reservations at.

I agree. I would only throw that out there just to see what he says. But don't have any intention on handing my money over to them.

use2betrix

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Re: Personal Capital Wealth Management
« Reply #7 on: October 10, 2018, 06:57:33 PM »
I had a consultation a few months ago. They kept calling and calling every few months and it was getting annoying. I finally told him Iíd listen to him but had no intent on changing. It was interesting. He didnít really tell me anything I didnít know. I knew I needed to diversify more but just hadnít done the research. Iím fine with that as I donít intend to touch my investments for a while.

The certainly try and sell you and it was a bit annoying after I very clearly told him from day 1 Iíd listen to his discussion, but constantly reiterated that I had no intention of hiring them to manage my portfolio.

Contrary to the popular opinion around here, I certainly see value for financial planners in certain cases. Most of those cases apply to people in situations different than the standard mustachian.

Indexer

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Re: Personal Capital Wealth Management
« Reply #8 on: October 11, 2018, 06:08:02 PM »
Should you use PC?  Probably not.

When I hear of advisors building portfolios of individual stocks the first thing that comes to mind is active mutual funds. As we all know, most active funds can't beat the market over time. Let's digest that for a second...

A mutual fund manager is normally someone with decades of experience in the financial markets, groomed by mentors who also manage funds, who worked as a CFA before that, who have teams of CFAs working 60+ hours per week doing research, and they still can't beat the market.

But your Personal Capital rep, who probably isn't a CFA or CFP, and is working at a firm that's only been around a few years, their confident they've got this. Just trust them.

It's so absurd that it's hilarious!

Onto a more serious note:

1. If you feel comfortable managing your own portfolio. Do that.

2. If you need an advisor's help, you can have a free consultation with a Vanguard CFP once per year. The advice is very similar to the advice you would get on Bogleheads; low cost well diversified index funds. If you need more help than that the CFP can manage the account for 0.3%. Like use2betrix, I see situations where a financial planner can help, especially when it comes to managing a portfolio that includes a taxable account with a lot of unrealized capital gains.

catccc

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Re: Personal Capital Wealth Management
« Reply #9 on: October 12, 2018, 10:54:07 AM »
Had the call with them, declined their services.  Nobody will take care of my money like I will, and there's barely anything to take care of with index investing, anyway!