Personal Capital
 | |
| Subsidiary | |
| ISIN | 🆔 |
| Industry | Finance |
| Founded 📆 | |
| Founders 👔 | Bill Harris, Rob Foregger, Louie Gasparini, Paul Bergholm |
| Headquarters 🏙️ | Redwood Shores, CA |
Area served 🗺️ | United States |
Key people | |
| 💎 AUM | $21.9 billion [2] |
| Members | |
Number of employees | 1,193 [3] |
| Parent | Empower Retirement |
| 🌐 Website | www |
| 📇 Address | |
| 📞 telephone | |
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]
History[edit]
Personal 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 both 2014 and 2015, Personal Capital was named to CNBC Disruptor 50 list.[11][6] In June 2015, Personal Capital had over $1.5 billion in assets under management.[12] In September 2015, there were 800,000 people using Personal Capital's free investing tools to monitor $150 billion in assets.[12]
In June 2016, National Basketball Players Association (NBPA) teamed up with Personal Capital through a financial education program.[13]
In December 2016, Personal Capital raised $25 million in Series E funding from IGM Financial, closing the round at $75 million.[14]
In July 2020, Canadian-owned, Denver-based Empower Retirement announced it would be purchasing Personal Capital for $825 million plus a contingency payout.[15][16]
In February 2023, Empower Retirement officially renamed Personal Capital and all of its products to Empower.[17]
Product[edit]
Since inception, Personal Capital has provided both free and paid wealth management products.[11]
Free registration has included a digital overview of user finances along with access to Personal Capital's financial analytic and planning tools.[18] 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.[11][18] 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.[19][20]
Managed accounts have been an available option for clients with a minimum of $100,000[21] in assets and include a team of financial advisors assigned to each account in exchange for a fee.[18]
Security[edit]
Personal Capital partners with Yodlee Interactive to store and secure customer brokerage credentials.[22][23]
References[edit]
- ↑ "About Us – Personal Capital".
- ↑ "About Us – Personal Capital".
- ↑ "Personal Capital Company Profile". craft.co.
- ↑ "Contact Us – Personal Capital".
- ↑ "Credit Karma". Forbes. Retrieved 2021-05-04.
- ↑ 6.0 6.1 "17. Personal Capital:Online 360-degree personal finance platform". CNBC. CNBC. 17 June 2014.
- ↑ "Credit Karma". Forbes. Retrieved 2021-05-04.
- ↑ 8.0 8.1 "Company Overview of Personal Capital Corporation". Bloomberg L.P. Bloomberg. Retrieved 16 November 2015.
- ↑ Schonfeld, Erick. "Former Intuit CEO Bill Harris Launches Personal Capital". TechCrunch. TechCrunch. Retrieved 15 November 2015.
- ↑ "PERSONAL CAPITAL ADVISORS CORPORATION". US Securities and Exchange Commission. Retrieved 14 November 2015.
- ↑ 11.0 11.1 11.2 "18. Personal Capital". CNBC. 12 May 2015. Retrieved 16 November 2015.
- ↑ 12.0 12.1 MacKillop, Scott. "Almost lost in the robo shuffle, Personal Capital, in its 'special category,' is winning as told by an overlooked metric: revenues". RIABiz. RIABiz. Retrieved 16 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.
- ↑ 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.
- ↑ 18.0 18.1 18.2 Taulli, Tom. "When Personal Capital Talks, People Should Listen". Forbes.
- ↑ Cannon, Andrea. "These 5 Apps Will Help You Finally Organize Your Money". WiseBread. WiseBread. Retrieved 16 November 2015.
- ↑ Fontinelle, Amy. "BillGuard Vs. Mint Vs. SigFig Vs. Personal Capital". Investopedia. Investopedia. 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]
| Open-source | |
|---|---|
| Free | |
| Commercial | |
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