Personal Capital Surpasses $2 Billion in Assets

Over one-third of AUM coming from clients with $1 million or more

Mar 03, 2016, 09:30 ET from Personal Capital

SAN FRANCISCO, March 3, 2016 /PRNewswire/ -- Personal Capital, the leading digital advice firm, today announced it has achieved $2 billion in assets under management (AUM), with one-third coming from clients with over $1 million in assets at Personal Capital. The average AUM per client is now $300,000.

"Half of our clients are coming from traditionally advised relationships," said Bill Harris, CEO of Personal Capital. "We offer better technology, better financial planning, better portfolio construction, better service and lower cost. The other half of our clients come from simple self service brokers who are graduating to a more sophisticated level of wealth management.

"What makes Personal Capital unique is we blend the best personal financial technology with dedicated financial advisors that our devoted clients crave to help them make sound financial decisions. This is true digital advice, which represents the future of the advisory industry."

The appetite for this hybrid model is demonstrated by Personal Capital's growing registered user base – nearly one million people who are tracking $210 billion in assets. Any user can access Personal Capital's dashboard and financial tools for free, and Personal Capital offers professional advisory services to manage client assets. Advisors leverage Personal Capital's free tools to build personalized retirement plans and custom portfolios based on the specific needs of their clients. They also advise clients on planning for financial milestones, from buying a home to preparing for a baby.

"Most Americans are overwhelmed by the amount of money they need to save for retirement," Harris commented. "We built Personal Capital in order to deliver complex information in an easy to digest format, coupled with human advisors to explain how that information fits into a client's overall financial life. Our model ensures that clients receive a personalized action plan with an advisor available to help them meet their long-term goals."

On average, a user aggregates 15 different financial accounts including 401(k) accounts, IRA accounts, loans, credit cards, savings and checking accounts. Personal Capital users are empowered by their ability to monitor the current state of their retirement and investments 24/7 at the touch of a button – active users with $100,000 in investable assets log in on average 12 times per month, while the number increases to 17 times per month for those with over $1 million.

For more information about Personal Capital's wealth management tools or to download the app on iOS or Android, visit:

About Personal Capital

Personal Capital is a next generation financial advisor. The company melds technology with professional advisors to help households manage their wealth. Personal Capital's free app is available for iPhone, iPad and Android.

Disclaimer: Personal Capital Advisors is an SEC registered investment advisor. Any reference to the advisory services refers to Personal Capital Advisors. SEC registration does not imply a certain level of skill or training.

Marianne Ahlmann | Personal Capital |

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SOURCE Personal Capital