 | |
| 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 |
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]
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]
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]
Personal Capital partners with Yodlee Interactive to store and secure customer brokerage credentials. [22] [23]
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| Open-source | |
|---|---|
| Free | |
| Commercial | |
