SOURCE: Personal Capital

Personal Capital

September 20, 2011 08:00 ET

Personal Capital Unveils Its "Personal Financial Advisor" Service

Wealth Management for the Internet Age

SAN FRANCISCO, CA--(Marketwire - Sep 20, 2011) - Designed by financial technology veterans, Personal Capital is a new type of financial service for a new era. Built for affluent Americans with complex financial lives, Personal Capital combines high tech with high touch -- web and mobile apps with professional advisors -- to deliver the kind of personalized wealth management service previously reserved for multi-millionaires.

Personal Capital turns the traditional financial services model on its head. "Instead of hawking the same pre-packaged products to millions of customers," said Bill Harris, CEO of Personal Capital, "we built our entire service around you and your money -- all of your money at every financial institution. We help you take strategic control of your wealth."

Available today at www.personalcapital.com, the company's free service includes:

  • Real-time financial dashboard to track all your money at all banks and brokers
  • Transaction monitoring, daily alert emails, and military-grade security
  • Investment checkup -- cardiogram of your asset allocation and mutual fund fees
  • Financial analysis and objective advice, based on your total financial picture

In addition, Personal Capital offers a hyper-personalized wealth management service:

  • Dedicated financial professional to advise, plan and monitor your money
  • Personalized portfolio with global multi-asset-class allocation to control risk
  • Continuous rebalancing and tax optimization, designed to maximize net returns
  • Cash management services for high-yield government-guaranteed cash deposits

"First we build a free 360-degree portrait of your financial health," Harris said. "Then we help you assess the strengths and weaknesses of your finances. Finally, if you like, we custom-tailor and implement a program for your long-term financial success."

Personal Capital is an independent Registered Investment Advisor (RIA), not a bank or brokerage -- and this distinction is crucial. "While bankers and brokers have an inherent conflict of interest because they're paid to sell financial products, RIAs have a legal obligation to act in their clients' best interest, not in their own," said Rob Foregger, chief strategy officer. "So Personal Capital's advisors can provide objective advice on what's best for you."

Personal Capital has assembled a remarkably experienced team of senior executives and serial innovators from the financial technology industry, including:

  • Bill Harris, formerly CEO of Intuit and CEO of PayPal
  • Rob Foregger, co-founder of EverBank and head of Fidelity's banking services
  • Jay Shah, formerly chief information officer of E-Loan
  • Jim Del Favero, formerly group product manager for Quicken

Personal Capital is Silicon Valley's most ambitious attempt to reinvent the way financial services are delivered. The company has attracted $27 million of investment capital prior to today's launch, and is funded by venture capital powerhouses Institutional Venture Partners (IVP) and Venrock.

"We've backed a number of companies with explosive growth, including Twitter and Zynga," said Steve Harrick, general partner at IVP. "But rarely do we see an opportunity to be part of a company that could revolutionize an entire industry. This is foundational change at work, and it's exciting."

About Personal Capital

Personal Capital is the next generation of financial advisor. Built from the ground up with real-time technologies delivered over web and mobile channels, the company provides its clients with free instant access to their money at all their banks and brokers, plus the analysis and advice to make sense of it all. www.personalcapital.com

Personal Capital also offers the kind of sophisticated and personalized wealth management previously available only to wealthy families with five million dollars or more. The company melds technology with professional advisors to help households with complex financial lives manage their wealth. Call us today to talk to a financial advisor at 855-855-8005.

The founding team includes leading innovators in financial technology, who have banded together to do it again. The investors are Institutional Venture Partners (IVP) and Venrock, two of the world's most respected venture capital firms. Personal Capital is based in San Francisco and Redwood City in the heart of Silicon Valley.

Contact Information

  • Media Contact:
    Emma Starks or Matt Calderone
    212-564-3665
    press (at) personalcapital (dot) com