Personal Capital Acquired

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sleepysurf
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Personal Capital Acquired

Post by sleepysurf » Mon Jun 29, 2020 2:02 pm

I'm not surprised, as it was only a matter of time... https://www.businesswire.com/news/home/ ... al-Capital

I just hope they keep offering their FREE Portfolio aggregation/analysis tool, which is far superior to Vanguard's Portfolio Watch.
Retired 2018 | ~50/45/5 (partially sliced and diced)

ColoRetiredGirl
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Re: Personal Capital Acquired

Post by ColoRetiredGirl » Mon Jun 29, 2020 2:46 pm

Bummer! I just started using PC and hope it remains free. Time will tell.

BackToSchoolDad
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Re: Personal Capital Acquired

Post by BackToSchoolDad » Mon Jun 29, 2020 3:18 pm

Ironic because my 457 is through Empower and Personal Capital hasn't been able to update the transactions for months now.

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queso
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Re: Personal Capital Acquired

Post by queso » Mon Jun 29, 2020 3:22 pm

BackToSchoolDad wrote:
Mon Jun 29, 2020 3:18 pm
Ironic because my 457 is through Empower and Personal Capital hasn't been able to update the transactions for months now.
This. I have had more and more syncing problems over the years I have used it including one ticket I have had open with them for a year. It hasn't gotten bad enough for me to find something else yet, but given that I am stuck at home for the most part once I run out of house projects that may finally make it to the top of the list. Love it when it works, but maddening when it doesn't and the support response is very, very slow.

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willthrill81
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Re: Personal Capital Acquired

Post by willthrill81 » Mon Jun 29, 2020 3:24 pm

I had a PC account a few years ago but deleted it because with all of the data breaches that have happened, I no longer feel comfortable with any one company having all of my account information stored on their mainframes, no matter what security measures they've taken.
“It's a dangerous business, Frodo, going out your door. You step onto the road, and if you don't keep your feet, there's no knowing where you might be swept off to.” J.R.R. Tolkien,The Lord of the Rings

donfairplay
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Re: Personal Capital Acquired

Post by donfairplay » Mon Jun 29, 2020 3:42 pm

Sean Parker: You don't even know what the thing is yet. How big it can get, how far it can go. This is no time to take your chips down. A million dollars isn't cool, you know what's cool?

Eduardo Saverin: [Sarcastically] You?

Sean Parker: [the scene shifts back to the deposition room] A billion dollars.

Sean Parker: And that's where you're headed, a billion dollar valuation. Unless you take bad advice, in which case you may as well have come up with a chain of very successful yogurt shops.

rich126
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Re: Personal Capital Acquired

Post by rich126 » Mon Jun 29, 2020 6:59 pm

willthrill81 wrote:
Mon Jun 29, 2020 3:24 pm
I had a PC account a few years ago but deleted it because with all of the data breaches that have happened, I no longer feel comfortable with any one company having all of my account information stored on their mainframes, no matter what security measures they've taken.
I agree. Many years ago I used one of the aggregator type companies to track frequent flier miles but quickly decided it wasn't worth the risk.

I think Fidelity has a similar tool but I wasn't willing to give them all my information (actually I think they use a 3rd party to handle it, which doesn't make it any safer IMO).

haranoth
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Re: Personal Capital Acquired

Post by haranoth » Mon Jun 29, 2020 7:23 pm

Huh.. Does anyone know more about Empower Retirement ? Google search shows they are big.. But in terms of security are they dependable?
I guess I will end up deleting my PC account if there isn't much Clarity regarding how Empower retirement decides to use the platform ? or keep the security risk at check.

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sleepysurf
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Re: Personal Capital Acquired

Post by sleepysurf » Mon Jun 29, 2020 7:53 pm

willthrill81 wrote:
Mon Jun 29, 2020 3:24 pm
I had a PC account a few years ago but deleted it because with all of the data breaches that have happened, I no longer feel comfortable with any one company having all of my account information stored on their mainframes, no matter what security measures they've taken.
Fact is, even Vanguard and Fidelity can "aggregate" outside accounts, ostensibly using Yodlee/Envestnet (as does Personal Capital, and many others).

Someday, I hope all brokerages will routinely provide read only portals for the aggregators.
Last edited by sleepysurf on Mon Jun 29, 2020 8:00 pm, edited 2 times in total.
Retired 2018 | ~50/45/5 (partially sliced and diced)

Jags4186
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Re: Personal Capital Acquired

Post by Jags4186 » Mon Jun 29, 2020 7:59 pm

haranoth wrote:
Mon Jun 29, 2020 7:23 pm
Huh.. Does anyone know more about Empower Retirement ? Google search shows they are big.. But in terms of security are they dependable?
I guess I will end up deleting my PC account if there isn't much Clarity regarding how Empower retirement decides to use the platform ? or keep the security risk at check.
My wife’s 401k is with them. It’s fine. They require 2 factor authentication and I don’t think the cookies on their website work because it always requires us to get a code even when we click “remember this computer”.

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whodidntante
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Re: Personal Capital Acquired

Post by whodidntante » Mon Jun 29, 2020 8:04 pm

I have an Empower 401k. It's not bad. My costs are low, but that depends on the details of your plan. The "tools" they offer, however, are standard issue, we found 50 grand laying around and we know a guy, poor tools. Maybe this will boost the tools a bit.

JediMisty
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Re: Personal Capital Acquired

Post by JediMisty » Mon Jun 29, 2020 8:05 pm

willthrill81 wrote:
Mon Jun 29, 2020 3:24 pm
I had a PC account a few years ago but deleted it because with all of the data breaches that have happened, I no longer feel comfortable with any one company having all of my account information stored on their mainframes, no matter what security measures they've taken.
+1. I occasionally update on PC the shares manually of my mutual funds. Most of my holdings are at Vanguard now anyway (including my. 401k.) My other holdings (Janus Henderson fund) are static, so I just added them manually to my Vanguard account for aggregation. I'm using Google sheets that I've customized after learning about them here. No real reason to risk personal capital or any other aggregation service.

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willthrill81
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Re: Personal Capital Acquired

Post by willthrill81 » Mon Jun 29, 2020 8:21 pm

rich126 wrote:
Mon Jun 29, 2020 6:59 pm
willthrill81 wrote:
Mon Jun 29, 2020 3:24 pm
I had a PC account a few years ago but deleted it because with all of the data breaches that have happened, I no longer feel comfortable with any one company having all of my account information stored on their mainframes, no matter what security measures they've taken.
I agree. Many years ago I used one of the aggregator type companies to track frequent flier miles but quickly decided it wasn't worth the risk.

I think Fidelity has a similar tool but I wasn't willing to give them all my information (actually I think they use a 3rd party to handle it, which doesn't make it any safer IMO).
These days, I just log into all of our accounts periodically and input everything into a running Excel spreadsheet. It works well, only takes about two minutes, and is about as secure as you can be these days.
“It's a dangerous business, Frodo, going out your door. You step onto the road, and if you don't keep your feet, there's no knowing where you might be swept off to.” J.R.R. Tolkien,The Lord of the Rings

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willthrill81
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Re: Personal Capital Acquired

Post by willthrill81 » Mon Jun 29, 2020 8:23 pm

sleepysurf wrote:
Mon Jun 29, 2020 7:53 pm
willthrill81 wrote:
Mon Jun 29, 2020 3:24 pm
I had a PC account a few years ago but deleted it because with all of the data breaches that have happened, I no longer feel comfortable with any one company having all of my account information stored on their mainframes, no matter what security measures they've taken.
Fact is, even Vanguard and Fidelity can "aggregate" outside accounts, ostensibly using Yodlee/Envestnet (as does Personal Capital, and many others).

Someday, I hope all brokerages will routinely provide read only portals for the aggregators.
I'm no more comfortable with Vanguard or Fidelity having that information than PC or anyone else. I don't want anyone except my DW knowing where all of our money is nor how much we have.
“It's a dangerous business, Frodo, going out your door. You step onto the road, and if you don't keep your feet, there's no knowing where you might be swept off to.” J.R.R. Tolkien,The Lord of the Rings

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CyclingDuo
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Re: Personal Capital Acquired

Post by CyclingDuo » Mon Jun 29, 2020 8:25 pm

Jags4186 wrote:
Mon Jun 29, 2020 7:59 pm
My wife’s 401k is with them. It’s fine. They require 2 factor authentication and I don’t think the cookies on their website work because it always requires us to get a code even when we click “remember this computer”.
Ummmm.....that would be the point of two factor authentication. 8-)
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student
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Re: Personal Capital Acquired

Post by student » Mon Jun 29, 2020 8:40 pm

I have been using PC for many years. I tried FutureAdvisor too but it stopped being free. If PC stops being free, then I won't use it as in my experience, it is very similar to the one from Fidelity. There are some indications that Charles Schwab may offer something similar in the future.

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Re: Personal Capital Acquired

Post by Jags4186 » Mon Jun 29, 2020 9:35 pm

CyclingDuo wrote:
Mon Jun 29, 2020 8:25 pm
Jags4186 wrote:
Mon Jun 29, 2020 7:59 pm
My wife’s 401k is with them. It’s fine. They require 2 factor authentication and I don’t think the cookies on their website work because it always requires us to get a code even when we click “remember this computer”.
Ummmm.....that would be the point of two factor authentication. 8-)
You typically don't have to use 2-factor authentification on your own personal computer if you tell a website to remember the device after completing a 2-factor verification. If you delete your browsing history/cookies this will reset and cause you to have to reenter the 2-step. For example, I do not have to complete 2 step verification with Vanguard from my computer every single time I want to log in.

Empower, even when you click the little "remember this device" box, sends you off to get an 8 digit code.

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Re: Personal Capital Acquired

Post by nighthawk75 » Thu Jul 02, 2020 5:33 pm

My employers 401k is with Empower Retirement. I've had aggregation issues with PC for awhile now as well. At least a year I'd say. Things are always breaking. It drives me nuts. Most recently it was with my Empower account. I agree that it's maddening when it doesn't work. And I love the insight it gives me when it does.

I was told by ER that the aggregators have limited access to data currently for security reasons. Not sure how long it will last.

Hopefully they don't ruin it. I do find it kind of exciting!

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sleepysurf
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Re: Personal Capital Acquired

Post by sleepysurf » Thu Jul 02, 2020 6:31 pm

Here's a blog post from PC's CEO about the acquisition... https://home.personalcapital.com/page/l ... m-jay-shah

No word about whether their Dashboard aggregation tool will remain free, for those of us that aren't Advisory clients.
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tj
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Re: Personal Capital Acquired

Post by tj » Sat Jul 04, 2020 12:08 pm

sleepysurf wrote:
Thu Jul 02, 2020 6:31 pm
Here's a blog post from PC's CEO about the acquisition... https://home.personalcapital.com/page/l ... m-jay-shah

No word about whether their Dashboard aggregation tool will remain free, for those of us that aren't Advisory clients.
That link requires log in.

Here's a link for all:

https://www.personalcapital.com/blog/pe ... -jay-shah/

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Re: Personal Capital Acquired

Post by abuss368 » Sat Jul 04, 2020 2:06 pm

I am not surprised at all and figured it would only be a matter of time.
John C. Bogle: Two Fund Portfolio - Total Stock & Total Bond - “Simplicity is the master key to financial success."

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Re: Personal Capital Acquired

Post by abuss368 » Sat Jul 04, 2020 2:07 pm

I never felt comfortable with any one of these portal or dashboard companies having access and login information to all the accounts. Too many data breaches today. I am surprised in some respects Personal Capital achieve the level of success they have.
John C. Bogle: Two Fund Portfolio - Total Stock & Total Bond - “Simplicity is the master key to financial success."

Kennedy
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Re: Personal Capital Acquired

Post by Kennedy » Sat Jul 04, 2020 3:06 pm

abuss368 wrote:
Sat Jul 04, 2020 2:07 pm
I never felt comfortable with any one of these portal or dashboard companies having access and login information to all the accounts. Too many data breaches today. I am surprised in some respects Personal Capital achieve the level of success they have.
I suspect the reason Personal Capital is so popular is because most of the big financial bloggers push it. EVERY post has a link to PC and talks about how great it is. I wonder how much the blogger receives in a referral fee when a reader clicks through and signs up for it?

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Re: Personal Capital Acquired

Post by abuss368 » Sat Jul 04, 2020 3:12 pm

Kennedy wrote:
Sat Jul 04, 2020 3:06 pm
abuss368 wrote:
Sat Jul 04, 2020 2:07 pm
I never felt comfortable with any one of these portal or dashboard companies having access and login information to all the accounts. Too many data breaches today. I am surprised in some respects Personal Capital achieve the level of success they have.
I suspect the reason Personal Capital is so popular is because most of the big financial bloggers push it. EVERY post has a link to PC and talks about how great it is. I wonder how much the blogger receives in a referral fee when a reader clicks through and signs up for it?
That is very true. It feels like the past few years everywhere someone turns or reads something related to finance, there is a Personal Capital advertisement.
John C. Bogle: Two Fund Portfolio - Total Stock & Total Bond - “Simplicity is the master key to financial success."

tj
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Re: Personal Capital Acquired

Post by tj » Sat Jul 04, 2020 4:32 pm

abuss368 wrote:
Sat Jul 04, 2020 3:12 pm
Kennedy wrote:
Sat Jul 04, 2020 3:06 pm
abuss368 wrote:
Sat Jul 04, 2020 2:07 pm
I never felt comfortable with any one of these portal or dashboard companies having access and login information to all the accounts. Too many data breaches today. I am surprised in some respects Personal Capital achieve the level of success they have.
I suspect the reason Personal Capital is so popular is because most of the big financial bloggers push it. EVERY post has a link to PC and talks about how great it is. I wonder how much the blogger receives in a referral fee when a reader clicks through and signs up for it?
That is very true. It feels like the past few years everywhere someone turns or reads something related to finance, there is a Personal Capital advertisement.
Its around $50-$100. Even Kiplingers has an affiliate link code in their magazine

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abuss368
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Re: Personal Capital Acquired

Post by abuss368 » Sat Jul 04, 2020 4:33 pm

tj wrote:
Sat Jul 04, 2020 4:32 pm
abuss368 wrote:
Sat Jul 04, 2020 3:12 pm
Kennedy wrote:
Sat Jul 04, 2020 3:06 pm
abuss368 wrote:
Sat Jul 04, 2020 2:07 pm
I never felt comfortable with any one of these portal or dashboard companies having access and login information to all the accounts. Too many data breaches today. I am surprised in some respects Personal Capital achieve the level of success they have.
I suspect the reason Personal Capital is so popular is because most of the big financial bloggers push it. EVERY post has a link to PC and talks about how great it is. I wonder how much the blogger receives in a referral fee when a reader clicks through and signs up for it?
That is very true. It feels like the past few years everywhere someone turns or reads something related to finance, there is a Personal Capital advertisement.
Its around $50-$100. Even Kiplingers has an affiliate link code in their magazine
What is?
John C. Bogle: Two Fund Portfolio - Total Stock & Total Bond - “Simplicity is the master key to financial success."

tj
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Re: Personal Capital Acquired

Post by tj » Sat Jul 04, 2020 4:34 pm

abuss368 wrote:
Sat Jul 04, 2020 4:33 pm
tj wrote:
Sat Jul 04, 2020 4:32 pm
abuss368 wrote:
Sat Jul 04, 2020 3:12 pm
Kennedy wrote:
Sat Jul 04, 2020 3:06 pm
abuss368 wrote:
Sat Jul 04, 2020 2:07 pm
I never felt comfortable with any one of these portal or dashboard companies having access and login information to all the accounts. Too many data breaches today. I am surprised in some respects Personal Capital achieve the level of success they have.
I suspect the reason Personal Capital is so popular is because most of the big financial bloggers push it. EVERY post has a link to PC and talks about how great it is. I wonder how much the blogger receives in a referral fee when a reader clicks through and signs up for it?
That is very true. It feels like the past few years everywhere someone turns or reads something related to finance, there is a Personal Capital advertisement.
Its around $50-$100. Even Kiplingers has an affiliate link code in their magazine
What is?
The referral fee that the blogger gets.

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abuss368
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Re: Personal Capital Acquired

Post by abuss368 » Sat Jul 04, 2020 4:35 pm

tj wrote:
Sat Jul 04, 2020 4:34 pm
abuss368 wrote:
Sat Jul 04, 2020 4:33 pm
tj wrote:
Sat Jul 04, 2020 4:32 pm
abuss368 wrote:
Sat Jul 04, 2020 3:12 pm
Kennedy wrote:
Sat Jul 04, 2020 3:06 pm


I suspect the reason Personal Capital is so popular is because most of the big financial bloggers push it. EVERY post has a link to PC and talks about how great it is. I wonder how much the blogger receives in a referral fee when a reader clicks through and signs up for it?
That is very true. It feels like the past few years everywhere someone turns or reads something related to finance, there is a Personal Capital advertisement.
Its around $50-$100. Even Kiplingers has an affiliate link code in their magazine
What is?
The referral fee that the blogger gets.
Now I understand. I had checked out Financial Samurai and he recommends Personal Capital big time. When clicking the link it redirects the reader.
John C. Bogle: Two Fund Portfolio - Total Stock & Total Bond - “Simplicity is the master key to financial success."

tj
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Re: Personal Capital Acquired

Post by tj » Sat Jul 04, 2020 4:38 pm

abuss368 wrote:
Sat Jul 04, 2020 4:35 pm
tj wrote:
Sat Jul 04, 2020 4:34 pm
abuss368 wrote:
Sat Jul 04, 2020 4:33 pm
tj wrote:
Sat Jul 04, 2020 4:32 pm
abuss368 wrote:
Sat Jul 04, 2020 3:12 pm


That is very true. It feels like the past few years everywhere someone turns or reads something related to finance, there is a Personal Capital advertisement.
Its around $50-$100. Even Kiplingers has an affiliate link code in their magazine
What is?
The referral fee that the blogger gets.
Now I understand. I had checked out Financial Samurai and he recommends Personal Capital big time. When clicking the link it redirects the reader.
It wouldn't surprise me if the big bloggers negotiate higher referral fees.

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abuss368
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Re: Personal Capital Acquired

Post by abuss368 » Sat Jul 04, 2020 4:43 pm

tj wrote:
Sat Jul 04, 2020 4:38 pm
abuss368 wrote:
Sat Jul 04, 2020 4:35 pm
tj wrote:
Sat Jul 04, 2020 4:34 pm
abuss368 wrote:
Sat Jul 04, 2020 4:33 pm
tj wrote:
Sat Jul 04, 2020 4:32 pm


Its around $50-$100. Even Kiplingers has an affiliate link code in their magazine
What is?
The referral fee that the blogger gets.
Now I understand. I had checked out Financial Samurai and he recommends Personal Capital big time. When clicking the link it redirects the reader.
It wouldn't surprise me if the big bloggers negotiate higher referral fees.
Good point. I was not sure 100% how that worked.
John C. Bogle: Two Fund Portfolio - Total Stock & Total Bond - “Simplicity is the master key to financial success."

petulant
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Re: Personal Capital Acquired

Post by petulant » Sat Jul 04, 2020 4:46 pm

Unfortunately the entire blog-as-business ecosystem is rife with these kinds of conflicts of interest.

Whakamole
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Re: Personal Capital Acquired

Post by Whakamole » Sun Jul 05, 2020 10:12 am

petulant wrote:
Sat Jul 04, 2020 4:46 pm
Unfortunately the entire blog-as-business ecosystem is rife with these kinds of conflicts of interest.
It's good to assume that any product being pushed is paid placement. How much that corrupts the other advice given isn't as clear, but I assume that is the case.

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Horton
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Re: Personal Capital Acquired

Post by Horton » Sun Jul 05, 2020 11:09 am

petulant wrote:
Sat Jul 04, 2020 4:46 pm
Unfortunately the entire blog-as-business ecosystem is rife with these kinds of conflicts of interest.
Two examples:

"Going for Gold" at Can I Retire Yet?
Things can change overnight. My book sales and blog advertising revenue looked strong in February. They fell off a cliff in March.
"So That’s What It Feels Like to Lose $1 Million" at GoCurryCracker
This time around I don’t have a steady paycheck from a benevolent employer. With 2 kids and a long-term lease we are less flexible. And for extra fun, income has mostly disappeared – blog revenue has collapsed and dividends are being slashed.

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Re: Personal Capital Acquired

Post by Valuethinker » Sun Jul 05, 2020 11:13 am

willthrill81 wrote:
Mon Jun 29, 2020 8:23 pm
sleepysurf wrote:
Mon Jun 29, 2020 7:53 pm
willthrill81 wrote:
Mon Jun 29, 2020 3:24 pm
I had a PC account a few years ago but deleted it because with all of the data breaches that have happened, I no longer feel comfortable with any one company having all of my account information stored on their mainframes, no matter what security measures they've taken.
Fact is, even Vanguard and Fidelity can "aggregate" outside accounts, ostensibly using Yodlee/Envestnet (as does Personal Capital, and many others).

Someday, I hope all brokerages will routinely provide read only portals for the aggregators.
I'm no more comfortable with Vanguard or Fidelity having that information than PC or anyone else. I don't want anyone except my DW knowing where all of our money is nor how much we have.
Vanguard and Fidelity will have some of the best IT security in the business, though?

The business risk to them of a falling over is so huge. Fidelity is well-known for its heavy investment in IT (think - global broadband provider Colt Communications was a company they helped to found, seeded with venture capital, IPO'd and then eventually took private again).

(Downside is they will also attract the most skillful and numerous attackes, as well).

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