Personal Capital is an online financial advisor and personal wealth management company headquartered in Redwood Shores, CA with offices in

San Francisco, CA San Francisco (; Spanish for " Saint Francis"), officially the City and County of San Francisco, is the commercial, financial, and cultural center of Northern California. The city proper is the fourth most populous in California and 17th ...

Denver, CO Denver () is a consolidated city and county, the capital, and most populous city of the U.S. state of Colorado. Its population was 715,522 at the 2020 census, a 19.22% increase since 2010. It is the 19th-most populous city in the United ...

Dallas, TX Dallas () is the third largest city in Texas and the largest city in the Dallas–Fort Worth metroplex, the fourth-largest metropolitan area in the United States at 7.5 million people. It is the largest city in and seat of Dallas County wit ...

and

Atlanta, GA Atlanta ( ) is the capital city, capital and List of municipalities in Georgia (U.S. state), most populous city of the U.S. state of Georgia (U.S. state), Georgia. It is the county seat, seat of Fulton County, Georgia, Fulton County, the mos ...

History

Personal Capital was founded by Bill Harris, Rob Foregger, Louie Gasparini and Paul Bergholm in 2009. Personal Capital was formerly known as SafeCorp Financial Corp. The name was changed in 2010 and publicly launched on September 9, 2011. Since 2012, Personal Capital has been registered with the

U.S. Securities and Exchange Commission The U.S. Securities and Exchange Commission (SEC) is an independent agency of the United States federal government, created in the aftermath of the Wall Street Crash of 1929. The primary purpose of the SEC is to enforce the law against market ...

(SEC) as an investment advisor. In both 2014 and 2015, Personal Capital was named to CNBC Disruptor 50 list. In June 2015, Personal Capital had over $1.5 billion in assets under management. In September 2015, there were 800,000 people using Personal Capital's free investing tools to monitor $150 billion in assets. In June 2016, National Basketball Players Association (NBPA) teamed up with Personal Capital through a financial education program. In December 2016, Personal Capital raised $25 million in Series E funding from IGM Financial, closing the round at $75 million. In July 2020, Canadian-owned, Denver-based

Empower Retirement Empower is a retirement plan recordkeeping financial holding company based in Greenwood Village, Colorado, United States. It is the second-largest retirement plan provider in the United States. History Empower was created in 1891, when parent c ...

announced it would be purchasing Personal Capital for $825 million plus a contingency payout.

Product

Since inception, Personal Capital has provided both free and paid wealth management products. Free registration has included a digital overview of user finances along with access to Personal Capital's financial analytic and planning tools. Users link their

bank A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because ...

brokerages A stockbroker is a regulated broker, broker-dealer, or registered investment adviser (in the United States) who may provide financial advisory and investment management services and execute transactions such as the purchase or sale of stocks and ...

401(k) In the United States, a 401(k) plan is an employer-sponsored, defined-contribution, personal pension (savings) account, as defined in subsection 401(k) of the U.S. Internal Revenue Code. Periodical employee contributions come directly out of their ...

mortgages A mortgage loan or simply mortgage (), in civil law jurisdicions known also as a hypothec loan, is a loan used either by purchasers of real property to raise funds to buy real estate, or by existing property owners to raise funds for any pu ...

credit cards A credit card is a payment card issued to users (cardholders) to enable the cardholder to pay a merchant for goods and services based on the cardholder's accrued debt (i.e., promise to the card issuer to pay them for the amounts plus the o ...

, and

loans In finance, a loan is the lending of money by one or more individuals, organizations, or other entities to other individuals, organizations, etc. The recipient (i.e., the borrower) incurs a debt and is usually liable to pay interest on that de ...

. Analytics and planning advice is then automated through a 401(k) fee analyzer, retirement planner,

mutual fund A mutual fund is a professionally managed investment fund that pools money from many investors to purchase securities. The term is typically used in the United States, Canada, and India, while similar structures across the globe include the SICAV i ...

analyzer, an investment checkup, and

cash flow A cash flow is a real or virtual movement of money: *a cash flow in its narrow sense is a payment (in a currency), especially from one central bank account to another; the term 'cash flow' is mostly used to describe payments that are expected ...

tool. A free Personal Capital app for

iOS iOS (formerly iPhone OS) is a mobile operating system created and developed by Apple Inc. exclusively for its hardware. It is the operating system that powers many of the company's mobile devices, including the iPhone; the term also includes ...

and Android devices has also been available to all users with the same monitoring, analytic, and planning functionalities as the web version. Managed accounts have been an available option for clients with a minimum of $100,000 in assets and include a team of

financial advisors A financial adviser or financial advisor is a professional who provides financial services to clients based on their financial situation. In many countries, financial advisors must complete specific training and be registered with a regulatory ...

assigned to each account in exchange for a fee.

Security

Personal Capital partners with

Yodlee Yodlee is an American software company that develops an account aggregation service that allows users to see their credit card, bank, investment, email, travel reward accounts, etc. on one screen. Money by Envestnet Yodlee (formerly Yodlee Labs an ...

Interactive to store and secure customer brokerage credentials.

References

External links

* {{authority control American companies established in 2009 Financial services companies established in 2009 Companies based in Redwood Shores, California Account aggregation providers Online financial services companies of the United States 2020 mergers and acquisitions