Mass Affluent Investors Link Over $1 Trillion in Assets On Personal Capital

Tue, 09 March 2021  |  technology investing 

In another example of the accelerating acceptance of investment technology by investors, Personal Capital, a digital wealth management company, reported a 28% increase in the amount of assets linked to its free online financial tools. The company now has visibility into over $1 trillion in linked account value or approximately 2% of U.S. investable assets, further proving that fintech is having its 'moment.'

During an unprecedented 2020, the company saw a 15% increase in new dashboard users and monthly login frequency increased 10%, underscoring a desire by many investors to have insight and a holistic view of their finances. Today, Personal Capital currently manages more than $17 billion in assets and growing.

"Today's investors tend to have complex financial lives. It's not uncommon for people to link 12 to 15 accounts on their personal dashboard," said Jay Shah, President of Personal Capital. "Knowledge is power and our free, financial tools help people consolidate and see all of their financial accounts securely in one place."

In response to the growing needs of the mass affluent investor, Personal Capital has also introduced the ability to track cryptocurrency on personal dashboards. "Bitcoin recently hit a $1 trillion market cap and we realize tracking cryptocurrency is becoming increasingly important," said Vince Maniago Vice President of Product Management. "By adding these new tracking features, now you can literally see everything on your dashboard. You can track your home value, employee stock options, stock portfolio, other alternative investments and now your cryptocurrencies."

Personal Capital reported an increase of 33% in new assets under management for the year of 2020, and now serves over 26,000 wealth management clients.

Source: Personal Capital

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