Personal Capital, the third biggest independent robo advisor by assets, has hired a private equity firm to evaluate its financial options, sparking speculation the firm may be seeking a suitor.

Launched by former PayPal and Intuit head Bill Harris, Personal Capital has amassed $1.8 billion in AUM with a hybrid robo approach that until very recently targeted a wealthier client than its digital brethren Betterment or Wealthfront.

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