Personal Capital

Personal Capital is a free app that allows individuals to track their financial life by connecting accounts including bank accounts, credit cards and investment accounts; the app is now tracking $4.9 billion and according to their CEO, Jay Shah, their customer base is increasingly affluent; the company upsells their app users on financial advice and is providing a dedicated financial advisor if users have over $200,000 of investable assets; Shah answers several questions in an interview with Business Insider including their pitch to users, who their paying users are, why he thinks users will pay for the service and where the company is headed. Source

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