Is anyone using personalcapital.com company?

Have a question about your personal investments? No matter how simple or complex, you can ask it here.
Post Reply
rajprakash
Posts: 7
Joined: Mon Feb 20, 2017 12:31 pm
Location: CA

Is anyone using personalcapital.com company?

Post by rajprakash » Thu Jan 11, 2018 11:52 am

I got a call and email from SF based company personal capital (https://www.personalcapital.com/). It is supposed to provide free service to create a portfolio of your investments. The company website states that more than 1.5 million users are using it. The financial tool offered keeps track of all your investments and analyzes for you. To be able to do that, they require you put in the login credentials in which is encrypted and stored in a database not accessible to the company professionals (this is what they state!). The tool looks like a great one but I am concerned about the security issues and the login credentials security.
Has anyone been using this company and their financial tools? If so, what is your experience with them? They also provide financial consultation for a fee.
Thanks.

onourway
Posts: 1379
Joined: Thu Dec 08, 2016 3:39 pm

Re: Is anyone using personalcapital.com company?

Post by onourway » Thu Jan 11, 2018 11:55 am

If you search you will find plenty of discussion on this topic. Yes, many of us use them. Yes, there are valid concerns about security.

User avatar
oldzey
Posts: 1105
Joined: Sun Apr 13, 2014 8:38 pm
Location: Land of Lincoln

Re: Is anyone using personalcapital.com company?

Post by oldzey » Thu Jan 11, 2018 12:00 pm

Yes, there are many discussions on the board about this topic:

Typing "personal capital" into the search box (upper right hand corner of this page) yields some of the following results:

viewtopic.php?t=233892

viewtopic.php?t=227066

viewtopic.php?t=220106

viewtopic.php?t=230159

viewtopic.php?t=231170
"The broker said the stock was 'poised to move.' Silly me, I thought he meant up." ― Randy Thurman

mhalley
Posts: 6316
Joined: Tue Nov 20, 2007 6:02 am

Re: Is anyone using personalcapital.com company?

Post by mhalley » Thu Jan 11, 2018 12:00 pm

Many bogleheads use PC as an aggregator, but I doubt many use their advisory service. I use it and like it. You will get the occasional phone call from them wanting to discuss their service, but I found them not overly pushy and they accepted my polite “ I love your website but I am a boglehead and do it myself” ok . I did listen to their spiel once, but now I just screen my calls and ignore their voicemails. Security is always an issue, but that is a chance you take if you do anything online.
Another option to try if you want an aggregator is sigfig.

https://www.sigfig.com/site/

But the don’t do your cash flow like PC.

rajprakash
Posts: 7
Joined: Mon Feb 20, 2017 12:31 pm
Location: CA

Re: Is anyone using personalcapital.com company?

Post by rajprakash » Thu Jan 11, 2018 12:07 pm

Thanks all for your quick reply on this and pointers to look for the discussion (that took already place on this topic). I thought I ran search to see if there was any but I need to use the search accurately.

Retirement55
Posts: 4
Joined: Thu Jul 20, 2017 8:48 am

Re: Is anyone using personalcapital.com company?

Post by Retirement55 » Thu Jan 11, 2018 12:31 pm

After thinking about the security concerns for a period of time, I finally came around to utilizing the site/app based on positive reviews. This functionality is free. I first ensured all of my accounts had enhanced security setup to notify me of login attempts or transactions.

Pro's= It does allow you to review your entire portfolio by accessing one site/app. All accounts, charts, individual fund data, etc. I have my accounts and wife's accounts setup. If you input debt and other assets values, it tracks your outstanding net worth. It also gives you a nifty checkup on your total portfolio allocation based on historical data and analytics. Gives some useful data on sectors you are over and under allocated within, expected returns, fees of overall portfolio, and has a retirement planner for proposed future income.

Con's= Security is the biggest concern. The app is a little sketchy. It is currently timing out when I try to login. Several accounts continuously give error messages and will not update data. Feel as if I am constantly re-inputting login credentials. It drains data and battery on your phone if you do not turn off the app refresh in the background function. Once you review your account allocation, there is really no need to use that function very often. Someone from the company will call you once or twice a year trying to sell enhanced financial services. It causes you to check account balances on a daily basis because it is too easy to just open the app.

I keep meaning to cancel my account and change all of my passwords for security, but haven't yet. Kind of on the fence whether the output is worth the security concerns. I knew my 401K investment fees were a little high and that I need to hold more bonds before I signed up. Basically just told me what I already knew.

Agggm
Posts: 240
Joined: Mon Dec 25, 2017 6:18 pm

Re: Is anyone using personalcapital.com company?

Post by Agggm » Thu Jan 11, 2018 12:35 pm

rajprakash wrote:
Thu Jan 11, 2018 11:52 am
I got a call and email from SF based company personal capital (https://www.personalcapital.com/). It is supposed to provide free service to create a portfolio of your investments. The company website states that more than 1.5 million users are using it. The financial tool offered keeps track of all your investments and analyzes for you. To be able to do that, they require you put in the login credentials in which is encrypted and stored in a database not accessible to the company professionals (this is what they state!). The tool looks like a great one but I am concerned about the security issues and the login credentials security.
Has anyone been using this company and their financial tools? If so, what is your experience with them? They also provide financial consultation for a fee.
Thanks.
I use the free service only.

Post Reply