4 Personal Capital alternatives | finder.com

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Alternatives to Personal Capital

Humans and robo-advisors stand at the ready across these four platforms.

Our pick to buy stocks: Sofi Invest

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  • $0 commissions on stocks
  • Robo advisor with no management fees
  • Beginner-friendly platform
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Personal Capital serves up a unique triad of services comprising savings accounts, financial calculators and wealth management services. But minimums for portfolio management start at a steep $100,000, and its fees aren’t the most competitive on the market. Compare your investment options with these four Personal Capital alternatives.

Personal Capital alternatives

Facet Wealth

This financial planning platform offers one-on-one guidance from a certified financial planner for a flat annual fee.

  • Consider switching to Facet Wealth if: you prefer human guidance with more accessible account minimums.
  • Best for: hands-off investors with existing investment accounts.

Facet Wealth offers dedicated financial planners to help you manage your portfolio. While it doesn’t offer its own accounts, it can help you with existing investments as long as you’re willing to pay the entry cost: $480 per year for access to a dedicated financial adviser and $800 per year for investment management services.

  • Management fee: $480 annually
  • Account types: N/A
  • Asset types: N/A
  • Account minimum: $0

SoFi

SoFi offers automated investment options for investors who don’t mind handing their portfolios over to a robo-advisor.

  • Consider switching to SoFi if: you want a fee-free robo-advisor.
  • Best for: passive investors with smaller portfolios.

SoFi doesn’t offer access to human financial advisers. But that’s because a digital algorithm-driven robo-advisor handles its portfolio management. Best of all, it’s entirely free to use.

  • Management fee: $0
  • Account types: Individual, joint, traditional IRAs, Roth IRAs
  • Asset types: Stocks, ETFs
  • Account minimum: $0

Wealthsimple

Wealthsimple’s robo-advisor offers a wide variety of accounts with the added perk of human financial adviser support.

  • Consider switching to Wealthsimple if: you prefer a human financial adviser.
  • Best for: hands-off investors with smaller portfolios.

Wealthsimple’s robo-advisor comes equipped with plenty of the standards, including tax-loss harvesting, dividend investing and access to human financial advisers, regardless of your tier of service. That said, the service is strictly limited to the platform’s online interface, so you won’t be able to meet with anyone in person to discuss your portfolio.

  • Management fee: 0.5%
  • Account types: Individual, joint, trust, traditional IRA, Roth IRA, SEP IRA
  • Asset types: ETFs
  • Account minimum: $0

TD Ameritrade

This well-equipped brokerage offers investment opportunities for both active and passive investors through a comprehensive selection of accounts.

  • Consider switching to TD Ameritrade if: you’re seeking one-on-one portfolio management with a human adviser.
  • Best for: passive investors able to meet TD Ameritrade’s minimum portfolio requirements.

TD Ameritrade’s portfolio management services are tiered. A minimum deposit of $500 qualifies you for its Essential Portfolios robo-advisor. Portfolios of $25,000 and up gain access to the Selective Portfolios tier, complete with human financial consultants and a dedicated support team. Finally, portfolios of $250,000 and up qualify for the Personalized Portfolios tier: individualized portfolio construction, and dedicated senior financial and portfolio consultants.

  • Management fee: 0.30% to 0.90%
  • Account types: Individual, joint, trust, traditional IRA, Roth IRA, SEP IRA, 529 plans, Coverdell ESA
  • Asset types: Stocks, bonds, ETFs, mutual funds, options, futures, forex
  • Account minimum: $500 for TD Ameritrade’s robo-advisor, $25,000 for its portfolio management services

Pros and cons of Personal Capital

Personal Capital offers an attractive suite of services but has its drawbacks.

Pros

  • Free financial tools. Investors have access to Personal Capital’s free financial tools, including retirement planning, fee analyzers and net worth calculators.
  • Well-received. Well-received.
  • Human advisers. Personal Capital’s wealth management service is made possible by a combination of investing algorithms and the expertise of human financial advisers.

Cons

  • Account management fee. Investors with portfolios under $1 million pay 0.89% for Personal Capital’s wealth management service — more than you’d pay for automated investing with many of its competitors.
  • High portfolio minimum. To qualify for Personal Capital’s portfolio management services, you’ll need a portfolio of at least $100,000.
  • Limited support. Phone support is only available on weekdays.

How to transfer your brokerage account

Has another broker piqued your interest? The account transfer process will depend on the type of account you have and the platform you plan to move to. For information specific to the Personal Capital account transfer process, reach out to a rep during business hours and ask about applicable fees and next steps.

Here’s a look at the typical process:

  1. Contact your new broker to inform them of the transfer and provide them with your Personal Capital account number.
  2. Complete any required transfer paperwork from your new broker. For accounts under $250,000, you may be asked to notarize your signature. For accounts over $250,000, you may be asked for a medallion signature guarantee.
  3. Submit your transfer paperwork to your existing broker.

The account transfer process typically takes between seven and 10 business days.

Compare trading platforms

If you’re looking for a new investment account, here are some options.

Name Product Stock trade fee Asset types Option trade fee Annual fee Signup bonus
Sofi Invest
$0
Stocks, ETFs, Cryptocurrency
N/A
0%
N/A
A free way to invest in stocks, ETFs and crypto.
Robinhood
$0
Stocks, Options, ETFs, Gold/Commodities
$0
0%
Free stock (chosen randomly with a value anywhere between $2.50 and $200)
Sign up using the "go to site" link
Make unlimited commission-free trades in stocks, funds, and options with Robinhood Financial.
Interactive Brokers
$0
Stocks, Bonds, Options, Mutual funds, ETFs
$0 + $0.65/contract, $1 minimum
0%
N/A
IBKR Lite offers $0 commissions, and IBKR Pro offers advanced tools for professional traders.
Webull
$0
Stocks, Options, ETFs
$0
0%
Get one free stock valued between $2.50 and $250 when you open an account, one more with a deposit
Open an account
Margin financing rates start at 3.99%. No monthly subscription fees for margin.
Public
$0
Stocks, ETFs
N/A
$0 per month
N/A
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Compare up to 4 providers

*Signup bonus information updated weekly.

Disclaimer: The value of any investment can go up or down depending on news, trends and market conditions. We are not investment advisers, so do your own due diligence to understand the risks before you invest.

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