According to the FINRA Investor Education Foundation’s 2023 follow-up study of new investors, 70% of respondents said features that help them learn about investing are helpful—outpacing entertainment-style features by a wide margin. Yet many still assume that all wealth platforms function the same way.

There are important differences between hybrid advisor models like Empower (formerly Personal Capital) and AI-driven platforms like PortfolioPilot.com. This overview explains how each works, where biases may appear, and when one might suit an investor better.

Key Takeaways

• Empower (formerly Personal Capital) combines free dashboards with human advisory upsells; PortfolioPilot provides automated analysis without commissions or product sales.
• Investors using Empower may encounter advisor incentives tied to assets under management.
• PortfolioPilot’s independence allows data-driven analysis, risk simulations, and tax-aware planning without hidden sales motives.
• Both tools help investors visualize their wealth—but serve different user profiles: one for those seeking guided advice, the other for self-directed decision-makers.

Empower (formerly Personal Capital): Hybrid Dashboard Plus Advisory

Empower built its reputation on offering a free, visually appealing dashboard that connects bank accounts, investments, and retirement plans. This makes it popular with individuals who simply want to view their financial picture in one place.

However, the company’s deeper features are tied to human financial advisors who work under an assets-under-management (AUM) model. These fees are typically charged as a percentage of total assets, often around 1% annually, which can add up significantly over time. In addition, some investors have reported frequent outreach encouraging them to move more assets into managed accounts. For individuals who prefer to manage their own portfolios, this combination of ongoing costs and sales contact may not align with their preferences.

For some, this human touch provides reassurance. For others, it raises questions about objectivity and independence.

PortfolioPilot: AI-Driven Independence

PortfolioPilot takes a different approach. Instead of human advisors with potential commercial incentives, it uses AI-based analysis and simulations to provide insights. Like Empower (formerly Personal Capital), PortfolioPilot.com also offers a free dashboard for tracking accounts and net worth. The difference is that PortfolioPilot’s version is newer, designed with modern interfaces, and connects to a wide range of asset types while maintaining the same free access structure. The platform reviews an investor’s portfolio for:

• Diversification gaps across asset classes
• Tax efficiency opportunities
• Hidden fees in mutual funds or retirement plans
• Risk and resilience under various market scenarios

Because PortfolioPilot does not make money from commissions or management fees, its analysis is focused on data. The subscription model can also be significantly less costly than traditional percentage-of-assets (AUM) arrangements, which often charge around 1% annually.

At-a-Glance Comparison

Below is a side-by-side look at how Empower (formerly Personal Capital) and PortfolioPilot differ:

When Each Approach May Fit

Empower may be attractive to investors who:

• Want direct access to human advisors.
• Prefer outsourcing decision-making.
• Value the comfort of a traditional AUM relationship.

PortfolioPilot, on the other hand, may appeal to investors who:

• Prefer full independence in decision-making.
• Want actionable insights without commission-based incentives.
• Are looking for scenario modeling across diverse assets.

Hypothetical: Consider a mid-career professional with a 401(k), a taxable brokerage account, and a rental property. Using Empower, this person could see all accounts in one place, but may be encouraged to move assets under management with an advisor. With PortfolioPilot, the same person could receive an AI-driven analysis showing diversification gaps, hidden fees, and tax-aware rebalancing opportunities—without being pitched specific products.

Being objective is important. For self-directed investors, it helps to know if advice is linked to sales incentives or given independently. This can be the difference between feeling supported and feeling pressured.