Wealth Management Company Has Record First Quarter Sales for Q1 2020 and Introduces The Financial Roadmap to Deliver Advice at Scale
In the midst of a global pandemic, Personal Capital is leading the financial service industry’s shift to a remote setting by delivering advice at scale in today’s virtual world. Through the combination of innovative technology with human insight and advice, Personal Capital gives American families clarity and control in their financial lives in a time of financial uncertainty. Despite unprecedented market volatility, the company has experienced its best sales quarterly growth ever, driving a 23% annualized growth in net new assets in the first quarter of 2020.
“Our business was designed to operate virtually, therefore our service levels have remained unaffected, even when supporting remote work options for all our advisors and our employees,” said Jay Shah, Chief Executive Officer of Personal Capital.
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Recently, Personal Capital has supported record levels of customers who are remotely connecting to their money and actively engaging in their financial lives. The company has seen a 60% increase over normal load in its award-winning dashboard app – nearly double during peak hours traffic – while not missing a beat in delivering sub-second response times. Against this backdrop of increased technology engagement and client acquisition, Personal Capital Advisors have also seen a 75% increase in overall client service interactions with their advisors compared to a typical week. Across its entire customer spectrum, Personal Capital is seeing increased consumer demand across its entire technology-advisory hybrid virtual delivery platform.
Prior to the San Francisco Bay-Area shelter-in-place orders, Personal Capital closed offices nationwide on March 13th for the safety of its employees. The entire advisory force was 100% operational, and fully enabled to work from home, one day after the company’s decision.
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