First of all, we must note that Personal Capital does not want to be classified as a robo-advisory and would prefer to be considered a digital asset management service that also includes personalized advice from financial planners. That said, the company was one of the first to put tools in investor’s hands and automate elements of portfolio management. Personal Capital is our top choice for portfolio management due to the way the firm’s advanced technology effectively manages risk and taxes.
New and Notable:
- Personal Capital is a wholly-owned subsidiary of Empower Retirement, a retirement services provider, as of August 2020.
- The Recession Simulator, which allows Americans to illustrate the effect historical recessions would have had on their investments, was introduced in June 2020.
- Personal Capital Cash is a cash management service for U.S. residents and citizens with no minimum balance requirements. Investing clients receive a higher rate of interest.