[teagoat]

Personal Capital actively prompt to try to set up a meeting pretty much every time you log in. They're hoping that you'll sign up for some active management stuff, or do they have a robo-investing option (I can't remember.)

At a certain net-worth, they'll start calling you on a regular basis trying to get you to do the same.

It's all pretty annoying. Perhaps do that, and after a 6 months of so of calls and prompts, then offer to stop calling / prompting for $10 a month.

[mgkimsal]

> some active management stuff, or do they have a robo-investing option (I can't remember.)

IIRC it's robo-investing. I got a pitch from them, and it was mostly "high expense ratio funds are bad, we put you in low cost funds with expense ratio of < .10% to save you money".

"OK... but your expense fee is .90% of funds under management - this puts me at approximately 1%/year in fees."

"But we're actively rebalancing 2x per year and we do tax loss harvesting".

I was close to giving them a small $ to manage/test with, but backed out.

[throwaway2037]

Run away when you see some bullsh-t like this:

  "But we're actively rebalancing 2x per year and we do tax loss harvesting".

What if all of your funds are up for the period? There is no tax loss harvesting to be done(!), but you are still paying 100bps per year. To me: "tax loss harvesting" is akin to "tax write-offs" -- see Seinfeld TV episode. The money is still spent / lost. Taxes are an after thought...

Beat them all: Put all of your money is an ETF that tracks S&P 500 index. iShares IVV and Vanguard VOO are excellent. Expenses are less than 5bps per year! After 3/5/10 years, you are nearly guaranteed (statistically) to be ahead of the investment advisor when including expenses.

[mgkimsal]

I tend to agree. There's some value in having a real person to talk to, but it really depends on the person. PC people are generally just going to walking you through whatever the algorithm is implementing anyway, and... I just didn't see enough value in it. That said, I've lost plenty trying 'my own thing' on single stocks, but ... I pretty much knew it was a gamble. Majority of value is in a handful of basic ETFs and mutual funds with low expense ratios (< .10% overall, IIRC), so... there's not too much advantage in having someone else do the same thing for me (or really, for most people, imo).

[throwaway2037]

You wrote: <<There's some value in having a real person to talk to, but it really depends on the person.>>

I agree 100%. I think it is a good idea to pay for at least one hour of financial advice per year. Do not buy any products recommended if they receive a direct or indirect commission. An outsider who studies the financial situation of others for a living will usually have helpful advice, even if limited to: "This is good." or "Have you considered...?"

[scubakid]

haha I think I've pretty firmly planted my flag in the territory of not annoying people with calls.