Personal Capital is an online financial advisor and personal wealth management company headquartered in Redwood Shores, CA with offices in San Francisco, CA, Denver, CO, Dallas, TX and Atlanta, GA.[4][5]
 | |
| Company type | Subsidiary |
|---|---|
| Industry | Finance |
| Founders | Bill Harris, Rob Foregger, Louie Gasparini, Paul Bergholm |
| Headquarters | Redwood Shores, CA |
Area served | United States |
Key people | |
| AUM | $21.9 billion [2] |
Number of employees | 1,193 [3] |
| Parent | Empower Retirement |
| Website | www |
History
editPersonal Capital was founded by Bill Harris, Rob Foregger, Louie Gasparini and Paul Bergholm in 2009.[6][7] Personal Capital was formerly known as SafeCorp Financial Corp.[8] The name was changed in 2010 and publicly launched on September 9, 2011.[8][9] Since 2012, Personal Capital has been registered with the U.S. Securities and Exchange Commission (SEC) as an investment advisor.[10]
In June 2016, National Basketball Players Association (NBPA) teamed up with Personal Capital through a financial education program.[11]
In December 2016, Personal Capital raised $25 million in Series E funding from IGM Financial, closing the round at $75 million.[12]
In July 2020, Canadian-owned, Denver-based Empower Retirement announced it would be purchasing Personal Capital for $825 million plus a contingency payout.[13][14]
In February 2023, Empower Retirement officially renamed Personal Capital and all of its products to Empower.[15]
Product
editSince inception, Personal Capital has provided both free and paid wealth management products.[16]
Free registration has included a digital overview of user finances along with access to Personal Capital's financial analytic and planning tools.[17] Users link their banks, brokerages, 401(k)s, mortgages, credit cards, and loans. Analytics and planning advice is then automated through a 401(k) fee analyzer, retirement planner, mutual fund analyzer, an investment checkup, and cash flow tool.[16][17] A free Personal Capital app for iOS and Android devices has also been available to all users with the same monitoring, analytic, and planning functionalities as the web version.[18][19]
Managed accounts have been an available option for clients with a minimum of $100,000[20] in assets and include a team of financial advisors assigned to each account in exchange for a fee.[17]
Security
editPersonal Capital partners with Yodlee Interactive to store and secure customer brokerage credentials.[21][22]
References
edit- ^ "About Us – Personal Capital". Archived from the original on 2013-01-18.
- ^ "About Us – Personal Capital". Archived from the original on 2013-01-18.
- ^ "Personal Capital Company Profile". craft.co.
- ^ "Contact Us – Personal Capital". Archived from the original on 2013-01-18.
- ^ "Credit Karma". Forbes. Retrieved 2021-05-04.
- ^ "17. Personal Capital:Online 360-degree personal finance platform". CNBC. 17 June 2014.
- ^ "Credit Karma". Forbes. Retrieved 2021-05-04.
- ^ a b "Company Overview of Personal Capital Corporation". Bloomberg L.P. Bloomberg. Retrieved 16 November 2015.
- ^ Schonfeld, Erick (20 September 2011). "Former Intuit CEO Bill Harris Launches Personal Capital". TechCrunch. Retrieved 15 November 2015.
- ^ "PERSONAL CAPITAL ADVISORS CORPORATION". US Securities and Exchange Commission. Retrieved 14 November 2015.
- ^ "NBPA Teams Up With Personal Capital App To Improve Player's Financial Skills". SportTechie. 2016-06-09. Retrieved 2018-05-18.
- ^ "Personal Capital Receives $50M in Equity and Debt Funding". FinSMEs. 2016-12-15. Retrieved 2016-12-16.
- ^ Kauflin, Jeff. "Fintech Personal Capital Sells To Canadian Insurer For $825 Million Plus Contingency Bonus". Forbes.com.
- ^ "Empower Retirement to acquire Personal Capital" (Press release). Empower Retirement. 2020-06-29.
- ^ "Personal Capital Changes Name to Empower". BestRoboAdvisors.org. 13 Feb 2023.
- ^ a b "18. Personal Capital". CNBC. 12 May 2015. Retrieved 16 November 2015.
- ^ a b c Taulli, Tom. "When Personal Capital Talks, People Should Listen". Forbes.
- ^ Cannon, Andrea. "These 5 Apps Will Help You Finally Organize Your Money". WiseBread. Retrieved 16 November 2015.
- ^ Fontinelle, Amy. "BillGuard Vs. Mint Vs. SigFig Vs. Personal Capital". Investopedia. Archived from the original on 19 October 2017. Retrieved 14 November 2015.
- ^ O'Shea, Arielle. "Online Advisor Personal Capital Lowers Account Minimum". nerdwallet. Retrieved 12 January 2016.
- ^ Bernard, Tara Siegel (22 September 2011). "Personal Capital Aims to Be Next-Generation Financial Adviser". New York Times.
- ^ Hope, Bradley (7 August 2015). "Provider of Personal Finance Tools Tracks Bank Cards, Sells Data to Investors". Wall Street Journal. Wall Street Journal.
External links
edit- Official websiteArchived 2001-04-28 at the Wayback Machine