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Personal Capital vs. Betterment
One offers free financial tools — but its wealth management service has a high minimum.
Both platforms help investors manage their finances, but the services they offer vary. The best platform for your portfolio depends on whether you’re seeking a robo-advisor or full-fledged wealth management services.
Which one is better?
- Choose Personal Capital if you’re seeking free financial tools or wealth management services.
- Choose Betterment if you want to use a robo-advisor.
Personal Capital offers a unique triad of financial services: a collection of financial tools, an online savings account and wealth management services. The financial tools are free, but before you can access the platform’s algorithm- and adviser-driven wealth management, you’ll need a portfolio of at least $100,000. The savings account has no deposit requirements or monthly fees, but its 0.05% APY is not competitive.
Betterment is a robo-advisor with no minimums and a 0.25% annual management fee. It’s equipped with automated portfolio rebalancing, tax-loss harvesting and provides customer support seven days a week. It also offers a premium service with access to financial advisers — but like Personal Capital, it’s only open to clients with at least $100,000 to invest.
How do Personal Capital and Betterment compare?
|Overview||Wealth management firm Personal Capital offers a collection of services designed to help you manage and grow your money. Personal Capital service offerings make it a practical choice for hands-off investors, budget-conscious investors and savers.||Betterment is an online financial advisor that makes investing easy by creating a portfolio just for you, based on your preferences and financial goals. It’s a solid choice for those new to investing.|
|Minimum deposit to open||$100,000||$0|
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|Reputation and customer reviews|
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Both of these investment platforms can help you analyze your finances and manage your investments. But the only way to access either platform’s advisers is with a portfolio of at least $100,000.
Not sure that either platform is the right fit? Compare your options across multiple platforms to find the account that fits your investment goals.
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