Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Is Personal Capital Safe ??
Old 12-08-2017, 05:14 PM   #1
Recycles dryer sheets
 
Join Date: Nov 2017
Location: Atlanta Suburb
Posts: 51
Is Personal Capital Safe ??

I have been using Personal Capital for some time now but occasionally I get paranoid about all my login credentials being available to the third party (Yodlee I think) Personal Capital uses.

I do not include my bank accounts since they have cash - I only include brokerage accounts with the hope that turning my investments into cash (by a hacker) and getting that cash out of them to a *new* address/account may have some hurdles.

What are your thoughts? If you don't use Personal Capital, what other tool do you use? [ Please don't say complicated excel sheets -- I am tired of them and want a simple tool that can import transactions and display various aspects of my portfolio.]

Thanks in advance for staying on topic.
__________________

pn3069 is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 12-08-2017, 05:35 PM   #2
Thinks s/he gets paid by the post
nash031's Avatar
 
Join Date: Jun 2013
Location: Coronado
Posts: 1,742
Read here.
Quote:
Is Personal Capital Safe?

Because you are providing a lot of sensitive financial information, you want to know the answer to the question, “Is Personal Capital safe?” The reality is that Personal Capital is quite safe. Harris, has more than two decades of experience in the financial technology sector, and has been involved with security. As a result, there is high emphasis on security. In fact, Fritz Robbins, the CTO of Personal Capital, likes to point out that it’s probably safer to use Personal Capital to monitor your financial transactions and accounts than it is to log in repeatedly to different institutions.

The encryption used by Personal Capital is top-notch, and Robbins says that information isn’t sent through your browser, so even when your computer is compromised, your passwords aren’t. Personal Capital uses Yodlee for data collection and management. Yodlee is considered the leader in the field. (You can read my interview with Robbins, regarding Personal Capital’s security, on InvestorJunkie.)

Additionally, you can’t actually initiate transactions from Personal Capital, so if someone actually made it into your account, s/he couldn’t move any of your money around.
In addition, all of my financial institutions require either two-factor authentication or security questions for logins from new locations. Even if someone hacked Yodlee and got the credentials available to PC, they would not be able to log in to any of my financial institutions without me at least knowing about it, and they likely wouldn't be able to at all. I agree with the CTO's comment about PC being safer than logging in to your bank and/or investment institution every day, particularly from public or hotel WIFI.

I've used PC for about three years now, and feel quite safe though I admit I was skeptical at first.
__________________
"So we beat to our own drummer in the sun;
We ask for nobody's permission to run.
I just wanna live in a world like that;
Now I'm gonna live in a world like that!" - World Like That, O.A.R.
nash031 is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Safe Deposit Boxes - not so safe? plsprius Life after FIRE 29 06-07-2015 11:48 AM
Personal Capital calmloki FIRE and Money 8 09-16-2012 09:28 AM
Can 95% Safe = 100% Safe? halo FIRE and Money 3 10-14-2008 06:56 PM
Personal Umbrella versus Personal Excess Liability policies ? Linney FIRE and Money 25 11-28-2006 07:06 PM
"Is the Safe Withdrawal Rate TOO Safe?" Nords FIRE and Money 13 10-20-2004 10:36 AM

» Quick Links

 
All times are GMT -6. The time now is 03:26 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2019, vBulletin Solutions, Inc.