Financial advisory services: NerdWallet Advisors vs. Personal Capital Financial Planning
Quick Verdict
NerdWallet Advisors is best for those with limited assets seeking affordable advice, while Personal Capital is suitable for individuals with higher net worth seeking comprehensive financial planning.
- NerdWallet Advisors offers a low-cost option with no minimum investment, suitable for those with limited assets.
- Personal Capital provides a comprehensive platform with a higher minimum investment and AUM-based fees.
- Both platforms provide access to qualified financial advisors.
Key features – Side-by-Side
| Attribute | NerdWallet Advisors | Personal Capital Financial Planning |
|---|---|---|
| Fee structure | Subscription-based model with fixed monthly, quarterly, bi-annual, or annual fees. Rates were $49/month or $499/year as of March 2024, but can go up to $1,100 annually. | AUM, tiered: 0.89% for balances up to $1 million, lower fees for balances between $1 million and $10 million (0.79% to 0.59%), 0.49% for balances above $10 million |
| Minimum investment amount | No asset minimum | $100,000 |
| Services offered | Personalized financial planning services including budgeting, debt management, saving, retirement, insurance, and achieving short and long-term financial goals. Offers financial planning services at specific instances based on client needs and requests. Does not offer ongoing monitoring unless explicitly requested. | Retirement planning, investment management, tax optimization, financial advice, estate planning, advice on 401(k) and 529 plans |
| Advisor qualifications and certifications | Pairs users with CFP (Certified Financial Planner) professionals who have several years of experience and are held to a fiduciary standard. | Fiduciaries |
| Technology platform and user experience | NerdWallet's existing tools could be useful for budgeting and personal finance. The online medium is a plus for those seeking straight-to-the-point guidance. | User-friendly dashboard and mobile apps for iOS and Android, account aggregation, budgeting tools, investment tracking, retirement planning tools |
| Track record and performance history | It is best to ask the advisor directly about their track record and performance history, and how it compares to benchmarks. | Reportedly returned 10% (9.8%) net of fees to client's portfolios since inception in 2011 through Q3 2022 |
Overall Comparison
Fees: NerdWallet subscription vs. Personal Capital AUM; Minimum: NerdWallet $0 vs. Personal Capital $100k; Advisors: Both offer qualified advisors
Pros and Cons
NerdWallet Advisors
Pros:
- Low-cost financial planning service
- No minimum investment amount
- Pairs users with CFP professionals
- Personalized financial planning services
Cons:
- Potential conflicts of interest
- Does not offer ongoing monitoring unless explicitly requested
- Track record and performance history information not readily available
Personal Capital Financial Planning
Pros:
- User-friendly technology platform
- Personalized financial advice
- Comprehensive financial planning services
- Transparent fee structure
- Fiduciary advisors
- Educational resources available
Cons:
- Minimum investment amount of $100,000
- AUM fees higher than robo-advisors
User Experiences and Feedback
NerdWallet Advisors
What Users Love
- No highlights reported.
Common Complaints
- No major complaints reported.
Value Perception
- No value feedback reported.
Personal Capital Financial Planning
What Users Love
- No highlights reported.
Common Complaints
- No major complaints reported.
Value Perception
- No value feedback reported.