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Power Player: Bill Harris raises yet another $40 million on strength of winning big accounts willing to pay a grown-up price

Personal Capital has a leg-up in the mass production of classic RIA-to-high-net-worth services using technology, people and process, even if the brand elicits shrugs

Author Mia Diamond July 31, 2017 at 11:46 PM
3 Comments
no description available
Bill Harris: We are constantly showing what your cash flow is, you have to be good at saving.

Robo-Advisors


Stephen Winks

Stephen Winks

August 1, 2017 — 8:14 PM
the advice element of Robos are still quite primitive and inexpensive TAMP algorithms. The higher service business model of VanGuard and Personal Capital are focusing of creating personal experience beyond an impersonal TAMP technology. Vanguard and PC would be well served by putting "financial services" (asset/liability study, investment policy, portfolio construction, performance monitor, etc.) back into the financial services business. This preempts conventional brokerage which is opposed to fiduciary duty supporting a high service business model because it triggers fiduciary liability. The inability of brokerage to execute a high service business model for fear of fiduciary liability is the key to personalized advice of the Personal Capital business strategy. SCW
Bill Winterberg

Bill Winterberg

August 2, 2017 — 12:53 PM
Personal Capital selected Pershing Advisor Solutions as the custodian for customer accounts. As of August 2, 2017, I did not see a conflicts statement or disclaimer in your article about this relationship, given the article includes quotes from Mark Tibergien, CEO of Pershing Advisor Solutions, specifically because he is quoted as saying, "I'm very bullish," with respect to Personal Capital. <a href="https://support.personalcapital.com/hc/en-us/articles/201169490-Who-holds-my-money-" rel="nofollow">https://support.personalcapital.com/hc/en-us/articles/201169490-Who-holds-my-money-</a>
brooke southall

brooke southall

August 2, 2017 — 6:49 PM
Bill, Yep, good point. My oversight. Will do.

Related Moves

July 11, 2023 at 2:46 AM

With IPO clock at 10-years and ticking, Personal Capital makes two big, out-of-character moves to go upmarket and downmarket

With $9 billion in assets, the Redwood City-based national RIA hired the ex-Virgin America CMO Porter Gale to make one brand investors associates with both the freebie tools and the full-priced financial advice its advisors provide mostly from call centers

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March 5, 2019 at 9:17 PM

Betterment whistleblowers net $2.5 million • Wealthfront's big pivot leads to profits • Altruist launches tax service • CMOs in at Ascensus, Wealthspire & Joe Duran's Rise • Savvy bags four advisors as Mariner sues it for poaching • Jim Dickson launches RIA stake buyer

Betterment is also bending to RIA needs • Wealthfront is in the black, thanks to cash • Altruist reveals where it makes its money • Rise, Wealthspire and Ascensus each add two executives • Compound hits $2 billion of AUM • CAIS slashes alts prices • BlackRock ups private debt sales to RIAs, through GeoWealth.

June 29, 2024 at 3:00 AM

See more related moves

Mentioned in this article:

Betterment, LLC
Financial Planning Software
Top Executive: Jon Stein



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