Comments on: Empower (Formerly Personal Capital) Review – Managing All Your Investments in One Place

By: Jeff Rose, CFP®

Jeff Rose, CFP® — Wed, 06 Jul 2022 17:14:41 +0000

In reply to unhappy. That's frustrating!

By: unhappy

unhappy — Sat, 02 Jul 2022 16:07:48 +0000

I like PC a lot BUT when accounts stop updating they are painfully slow fixing issues. For example, one of my my credit cards stopped updating in April and going into the 5th month they have yet to fix the issue. It’s very annoying. They claim it’s their aggregator but Mint hasn’t skipped a beat synchronizing the same account. Moreover, the exact same issue occurred once before and it took them many months back then to have the issue resolved. So it’s not my first rodeo with their poor technical support.

By: Marie @ PF Pro

Marie @ PF Pro — Fri, 01 Aug 2014 12:33:10 +0000

I’m so glad that this kind of app can be downloaded on our mobile! We just did a Personal Capital Review too and I wish I would have found it sooner. It’s amazing how they can break everything down and analyze your 401 (k) funds.

By: ThomasB

ThomasB — Wed, 16 Jul 2014 13:23:32 +0000

In reply to Jeff Rose. That doesn't help at all. I've been following this company for over a year, and I have not seen a single review of its security that does anything other than parrot the company's assurances. The company asks for ALL the credentials necessary to log into ALL of a person's financial accounts. It's not a question of "trust" in the company or its founders: I have to assume that sooner or later it will get hacked, and ask what the fallback protections are. I don't see any. Although many people tell me the company has read-only access, the company itself doesn't say that, and there's nothing "read only" about the credentials they ask for. This is a massive security risk, as far as I'm concerned, and until they address it I wouldn't go within a mile of this service.

By: Jeff Rose

Jeff Rose — Mon, 03 Mar 2014 17:13:59 +0000

In reply to Sadie. @Sadie Not sure if this helps, but here's more about Personal Capital's security: https://www.personalcapital.com/safety-and-security

By: Sadie

Sadie — Mon, 03 Mar 2014 12:33:35 +0000

I wholehaeartedly agree with Rebecca saying: I know financial institutions will cover it if they are hacked and your money is taken. Would they cover this or would Personal Capital? I’m just been weary of giving my passwords to a third-party source

HOPEFULLY SOMEONE WILL PROVIDE AN ANSWER.

By: Drew @ financialvoodoo.com

Drew @ financialvoodoo.com — Sun, 02 Mar 2014 18:56:43 +0000

In reply to Jeff Rose. If they hack your personal capital account they have 100% all of your passwords AND some of your security question answers. These are all of the things stored in your Personal Capital account (to allow updating). Plain and simple, you are completely at risk and must trust them not to get hacked (just as we trusted target, sony, etc.).

By: Sadie

Sadie — Mon, 11 Nov 2013 10:45:36 +0000

Recommend Personal Capital identify recommended PC requirements. I signed up only to learn Windows VISTA is not acceptable. Also identified I was using unacceptable Browser though IE9.

By: Jeff Rose

Jeff Rose — Wed, 23 Oct 2013 14:16:54 +0000

In reply to Shannon @Financially Blonde. @ Shannon The client could give their planner their login credentials so they could monitor it all. I do have one client that did that with me. The only downside for advisors is that Personal Capital also has internal advisors that are essentially competition. That's something I've considered but their interface is too slick to not let people take advantage of it. I'm not familiar with Balance Financial.

By: Shannon @Financially Blonde

Shannon @Financially Blonde — Wed, 23 Oct 2013 13:40:23 +0000

Hi Jeff! Thanks for this review! Do you know if Personal Capital has a way for financial planners to monitor their client’s portfolios alongside the client? And if not, do they plan to allow for that as Balance Financial does?