I'm a YNAB and Yodlee user that recently started an account with Personal Capital, just to see what it was like. I like using an account aggregator/dashboard type tool (Yodlee) along with my daily budgeting software (YNAB). I was just curious to see what the Personal Capital interface was like, and see if it offered anything unique that I might value.
So I got a call today from an unrecognized number and they did leave a message, it's someone from Personal Capital and they want to schedule a one-on-one complimentary financial consultation. Oh. I thought this was just another dashboard type tool. No doubt they are trying to sell me some services, so I looked into it:
We have one simple fee based on a percentage of assets managed. We bill monthly, in arrears. Wealth management, trade costs and custody are included – you do not pay trade commissions. We routinely help clients with financial planning and 401k allocations at no charge. Here is our fee schedule:
First $1 Million: 0.89%...
Okay, probably won't go for their fee based product, but what's this about routinely helping with financial planning and 401K allocations? I suppose I've been doing just fine on my own, but I've been kind of excited about leveraging Vanguard's Voyager Select CFP services, when I reach that level, which hopefully will be in the next couple years. So a consult could be fun.
I did find a blog review of the complimentary planning session at retired by 40. Anyone else here try it? Feedback?
Also, I'm boggled that they would call up every person that signs up to offer this. Has anyone signed up for personal capital and not gotten a call? Curious what the threshold is, if any. I linked 2-3 accounts for a total portfolio of $452K.