Personal Capital keeps hiring move-the-needle executives, but the growth rate -- enviable to many -- is still pretty flat, if an IPO is in its future
The Redwood City, Calif. virtual RIA hired its third ‘growth executive’ to stoke demand
Author Oisin Breen
December 11, 2019 at 5:26 PM
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
March 22, 2019 at 7:55 PM
December 11, 2019 — 9:34 PM
It will be interesting to observe what the client demand is for Mega - RIAs moving forward. There are some benefit to big, but there are some drawbacks also. I'm not sure that HNW clients want to see the names of Independent RIAs on the sides of blimps and stadiums. I've always seen that part of the allure is in the heritage of RIAs and the "Boutique" aspect. There is a lot of value in Boutique that is fairly straightforward for folks to understand. I looked up Boutique in Websters dictionary: <a href="https://www.merriam-webster.com/dictionary/boutique" rel="nofollow">https://www.merriam-webster.com/dictionary/boutique</a> a small company that offers highly specialized services or products boutique wineries an independent investment boutique I think the challenge is achieving desired growth while still maintaining some of the unique value propositions that come with being Boutique and Independant.
December 12, 2019 — 1:56 PM
Maybe they should focus on making the product work first. My accounts stopped linking months ago and support has yet to provide me with an answer
December 12, 2019 — 10:05 PM
Explored them as an option for wealth management after being satisfied with their financial dashboards. They were unable to answer questions, and unwilling to disclose to me what investments they would be making until after I handed over a 600k 401k account. Sorry, I am the customer. You need to earn my trust and not the other way around.
December 17, 2019 — 3:20 PM
If they had $8B on 12/31/2018, and a normal globally diversified portfolio is up 20% in 2019, then the market grew AUM to $9.6B - so $1.6B of growth was not from their marketing efforts. "We’ve grown by over $3 billion to more than $11 billion since year end 2018," he says. "In a word, our strategy is: grow."