Where Personal Capital differs from typical robo-advisors is that not only do they manage the investments that you include in the service, but they also act as a financial account aggregator. This service is only available on the premium version, and it’s what Personal Capital does best.
Get clarity on your money, with tech you can trust from Personal Capital Investment Management The budgeting function is available for both the free and the premium versions. You can also use the Cash Flow Analyzer to establish long-term goals, like retirement planning or getting out of debt. The money management app will alert you to upcoming bills, however, there is no bill-paying function on the platform. This will also help you to pay your bills on time and to track your spending.
They provide a Cash Flow Analyzer tool that enables you to establish a budget by tracking your income and expenses from all accounts and sources. You do this by linking your various bank accounts and credit cards to the Personal Capital app. This can help you know exactly where your money goes each month. It can also allow you to view and analyze the transactions in your budget and provide monthly summaries. For example, Personal Capital lets you track your cash flow and provide insights into your spending habits. Personal Capital does offer a budgeting function, but when compared to that offered by Mint, it’s extremely limited. Here are the services that Personal Capital provides: Budgeting & Cash Flow Management
So you can sign up for a free Personal Capital account and use their online suite of tools as long as you wish. There is no obligation to sign up for the Personal Capital Wealth Management service. Both versions offer you the various tools and features on the platform, but the premium version provides active investment management, similar to that of robo-advisors. They offer two services, the free version, and a premium wealth management service. Over 1.4 million people use the service to track more than $350 billion in assets. Here’s why you should choose Personal Capital over Mint What Personal Capital DoesĪs noted above, Personal Capital is primarily an investment management service.
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