In an interview with RIABiz Personal Capital Founder Bill Harris talks about the outlook for his firm, the growth they have seen and some of the challenges with growing their brand; they do not consider themselves a robo advisor, they are more complicated and detailed with call centers and multiple strategies; they currently have $4.9 billion in assets under management which is more than five times the $1 billion in assets under management they had in January 2015; Jay Shah, CEO of Personal Capital, tells RIABiz, “Our rapid growth reaffirms that we are solving a major pain point for consumers by giving them conflict-free advice and full transparency and insight into their financial lives.”; they are not as cheap as Betterment or Vanguard yet they are gaining market share and their average account is $380,000; the company has received over $200 million in venture funding with the most recent round of $40 million closing yesterday; the interview also goes through the pains of building their brand and the different strategies they offer to clients. Source
