Monarch Money
Empower (Personal Capital)
| Feature | Monarch Money | Empower (Personal Capital) |
|---|---|---|
| Pricing | From $9.99/mo | Free / from $0.89/mo |
| Free Plan | ✗ No | ✓ Yes |
| Rating | 4.7 / 5 | 4.3 / 5 |
| Best For | couples, families, investors, budget-conscious-individuals | investors, high-net-worth-individuals, retirement-planners, wealth-builders |
| Founded | 2019 | 2009 |
| Account Aggregation | ✓ | ✗ |
| Budgeting | ✓ | ✓ |
| Net Worth Tracking | ✓ | ✓ |
| Investment Tracking | ✓ | ✗ |
| Goals | ✓ | ✗ |
| Collaboration | ✓ | ✗ |
| Investment Checkup | ✗ | ✓ |
| Retirement Planner | ✗ | ✓ |
| Fee Analyzer | ✗ | ✓ |
| Cash Flow | ✗ | ✓ |
| Wealth Management | ✗ | ✓ |
✓ Monarch Money Pros
- Beautiful modern interface
- Great for couples
- Excellent investment tracking
- Strong account aggregation
✗ Monarch Money Cons
- No free plan
- Newer platform
- Limited bill pay features
✓ Empower (Personal Capital) Pros
- Excellent free investment tracking and net worth dashboard
- Retirement planning calculator (Retirement Planner)
- Fee analyzer identifies hidden investment fees
- Comprehensive portfolio analysis tools
✗ Empower (Personal Capital) Cons
- Wealth management requires $100K minimum
- Sales calls after signing up for free tools
- Advisory fees higher than robo-advisors
The Verdict
Monarch Money is built for couples and families, with a focus on account-aggregation and budgeting. Empower (Personal Capital) targets investors and high net worth individuals and leads with net-worth-tracking and investment-checkup.
On pricing, Empower (Personal Capital) is the clear winner for budget-conscious users — starting at $0.89/mo compared to $9.99/mo for Monarch Money. That $9.1/mo difference adds up quickly for growing teams.
Empower (Personal Capital) has a free plan, which gives it a meaningful edge for individuals and small teams exploring their options. Monarch Money requires a paid subscription from day one.
Monarch Money edges out on user ratings (4.7 vs 4.3). While both are well-regarded, that gap reflects real differences in user satisfaction worth considering.
Feature-wise, Empower (Personal Capital) offers broader built-in capabilities (7 features vs 6), while Monarch Money takes a more focused approach — which can mean a simpler, faster onboarding experience.
Both tools are a solid fit for investors — in those cases, the decision often comes down to workflow style and how your team prefers to organize work.
Bottom line: Monarch Money has a slight overall edge — but if excellent free investment tracking and net worth dashboard matters most to you, Empower (Personal Capital) may still be the right call.