Monarch's collaborative features create unique privacy concerns—advisor sharing exposes your complete financial data to third parties, and household sharing means partners see all linked accounts. As a VC-backed startup, there's pressure to grow and eventually monetize user data. The Plaid requirement means bank credentials are shared with this aggregator.
| Data Type | Collected | Shared | Sold |
|---|---|---|---|
| Bank credentials | Yes | Plaid | No |
| Complete transaction history | Yes | Advisors/Partners | No |
| Investment accounts | Yes | Partners | No |
| Net worth and assets | Yes | Household/Advisors | No |
| Household member data | Yes | Shared Access | No |
| Usage analytics | Yes | Yes | Unclear |
Monarch's advisor features allow financial advisors to view your complete financial picture. This third-party access exposes sensitive data to parties with their own data practices.
Collaborative features mean household members see all linked accounts. Relationship changes can create privacy complications with shared financial access.
As a venture-funded company, Monarch faces pressure to grow and find revenue. Future business model changes could expand how your data is monetized.
Bank syncing requires sharing credentials with Plaid. There's no option to use Monarch meaningfully without this aggregator relationship.
Monarch's investment tracking collects detailed portfolio data including holdings, performance, and asset allocation—a comprehensive wealth profile.
Subscription model means no ads or financial product recommendations at present, though future monetization remains possible.
Users can export their transaction and budget data for portability if they decide to leave the platform.