I haven't used Personal Capital's management service. But at ~0.9%, I think that you shouldn't either.
What we've done is (a) read JL Collins Stock Series, (b) added our into into a tool like Personal Capital and (c) re balanced every year. Buy your funds from a place like Vanguard and you're cutting that fee by 90%. You'll accumulate funds faster with the lower expense ratio, and the lower fees will give you a higher safe withdrawal rate after you retire.
From what I've heard, wanting to be hands off is the best thing possible for Index Investors. Tinkering with investments usually leads to bad behavioral decisions. Doing it yourself requires (a) automatic contributions (one time effort to set up) and (b) re-balancing once / year (<30 minutes a year). I suppose that it also requires sticking with the program and not pulling out money when the market drops...I've heard the argument that paying for advice means that you're less likely to make poor emotionally decisions (i.e. behavioral finance).
I think that the free investment portfolio tool at Personal Capital gives you a target allocation. You can probably hit that allocation (or something very close to it) buy buying three funds:
- Total US Stock Market Index (i.e. Vanguard's VTSAX) MER 0.05%
- Total International Stock Market Index (i.e. Vanguard's VTIAX) MER 0.12%
- Total US Bond Market Index (i.e. VBTLX) MER 0.06%
I've listed the names / MERs for admiral shares above. These are the versions of the funds you get after you surpass a certain minimum investment requirement (typically $10,000). If you're not at that level yet, it's probably best to do something like what JL Collins suggests and just plug it all into VTSAX. For me, I put all my contributions for my Roth IRA into VTSAX, then I get the Institutional versions of the other funds through my 403b (we're lucky that they have good fund selection in our workplace plan) and re-ballance every year.
I'm not sure about Personal Capital, but I think that you'd be paying their fee + whatever MER is related to the funds you have.
Of course, take all of this with a grain of salt. I'm still pretty early on in my own adventure. But, it seems like it's a reasonable plan to me.