[YMMV] Personal Capital: $100 For Receiving A Call & Proposal From An Advisor

Update 4/24/22: Available again until June 30, 2022. Offer sent out via e-mail with subject line ‘ Let’s talk about your portfolio and how you can get $100’. Hat tip to reader Information Booth.

The Offer

Direct link to offer terms (log in to see if you are targeted on either the app or website)

  • Personal Capital is offering some users $100 if you agree to take a call from an Advisor and a follow up call to receive a proposal

The Fine Print

  • Offer available through January 31, 2020. If you schedule an appointment with a Personal Capital advisor and participate in both an initial call and a second call in which you receive a recommendation and proposal (a “Recommendation”), then you will receive $100 (the “Recommendation Bonus”), which will be deposited into your Personal Capital Cash account within 30 days after the Recommendation is delivered. If you do not have a Personal Capital Cash account, you must open a Personal Capital Cash account and link an external account within 30 days after receiving the Recommendation. The Recommendation Bonus will be deposited to your Personal Capital Cash account within 60 days of account opening. The $100 will be reported as interest on your account statement.

Our Verdict

Personal Capital is kind of like Mint for investment accounts. Lots of readers likely have Personal Capital accounts due to previous $50/$100 opening bonuses. I suspect they are targeting existing users with big balances in linked accounts for their managed product. I doubt their managed product makes much sense, so if you do go through this offer make sure to compare their proposal to other alternatives.

Hat tip to reader @cbsteven

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Millennial Outrage

I received a similar offer earlier this year for $200. Unlike Justin I accepted just to see what kinds of funds/strategy they recommended (he’s still right about the relative ROI though).

Justin

i might do it for $200!

Ben
Ben

As of 2020, their proposal was a fund that equally weights sectors which costs 89 bps. Plan on two calls and at least an hour of your time total.

On top of the fund being a rip, my advisor couldn’t answer basic tax and rebalancing questions I had. At the time I had foolishly been holding a target date fund in a non-qualified account and they also didn’t point out it was inefficient. I figured out that stuff soon after thanks to the nice folks at Bogleheads.

As for tracking, I use an excel plug-in for stock prices and just update my share quantities manually. That’s been more than good enough for me.

David
David

I like the idea of having tracking tools to do things like know my tax brackets – in conjunction with when I start taking Social Security, etc… to plan out how much ROTH Conversions I can do and such… Does Personal Capital offer any tools like that?

Also with the huge rise in Index funds, I find it funny they still think there is much room for suckering people into managed services heh

frogger
frogger

I think index funds look pretty bad for the next year. If everyone is in index funds they will no longer become an effective investment.

Dan M.
Dan M.

maybe for the short term, but long term they look attractive. Buy low, sell high.

Jon
Jon

The free tools are useful for net worth and income/expenses but you still need to do your own assessment for tax strategies. They also have some useful tools for monitoring portfolio allocation.

I don’t see the value in their managed service’s, but just because there is a prevalence of great index fund options doesn’t mean people allocate them appropriately for their own risk tolerance and goals.

Justin

I got the offer. Declined it just because I don’t want to sit through 1-2 hours of basically a timeshare pitch. Would rather churn bank/CC offers for a higher hourly ROI 🙂

DP: ~$2M of investment accounts linked at Personal Capital, have had PC for 8 years. Also did the free consultation way back in 2014 or so (without any compensation) so I got the offer but not sure if I’d be eligible to actually receive any $$$’s this time around.

Bob
Bob

Put the phone on speaker and cut the grass, do laundry, tidy up the closet or whatever other chores you do in your life. Remember when parents paid us to do chores? Think of it like that lol.

Shz Won
Shz Won

You’re parents paid you to do chores? Wow…my parents just gave me food during dinner

Jon
Jon

Was pretty annoyed that the terms say you need two calls when the initial teaser doesn’t make that clear. I have a meeting setup. Hopefully not a crazy long pitch.

I assume they are targeting those with a minimum amount of significant assets ($500k+) linked since they are more pricy than robos.

Peek

Wasn’t there a higher offer for this in the past?

Steve
Steve

I tried this a couple of months back, and it was a no go. After about ten minutes of qualifying questions, he determined I wasn’t a fit and said I was not eligible for the promotion. It appears the company is within their terms and conditions to do this, as I never made it to the second call.

sg77

Any idea why you weren’t a fit? Because you wouldn’t want to pay them to manage your investments?

Ron
Ron

These guys have been losing money and are up for sale but haven’t been able to find a buyer after a few PE funding rounds when times were better. Might want to unlink your financial accounts. Just saying…

Ryan Goldstein

I just saw this offer today right after logging in on my desktop.

CO
CO

nvm