What she didn’t say

Alexis from Personal Capital just called and asked if I wanted to take advantage of my complementary portfolio review.  I told her I managed my own investments, and I was comfortable with that.  She parroted back to me, “I understand that you manage your own investments and are comfortable with that, and I’d like to offer another perspective, maybe nothing would change, etc…”

It was a fake conversation dance, the kind I hate.  I want her off the phone b/c she’s revealed her transparent desire to profit off me by starting the conversation w/ a very narrow subject.  She didn’t ask about my savings rate.  She didn’t ask about my long term goals.  She didn’t ask me if I thought I was spending my money in a way that was efficient for happiness.  All things that aren more important than a portfolio review, but they are also all things that cannot be easily converted into a commission.


I (probably rediscovered) this article from years ago.  I asked Google, “Does Personal Capital offer good advice?” and Google didn’t seem to have a strong opinion on the issue.  Somebody rated it 3/5 stars because its online tools focused on budgeting rather than investing.

In the media, the LearnVest story is one of Alexa Von Tobel being ambitious and enriching herself via raising $75M and getting acquired for $250M.  There’s no mention of Learnvest actually being that helpful to people – only if it being acquired by a larger company, presumably because Learnvest is profitable enough to be worth acquiring.  But that’s not profit for single moms.


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