Last week Andrew Tobias (current Treasurer of the Democratic National Committee and Author of “The Only Investment Guide You Will Ever Need”) shared some of his readers‘ experiences with Mint.com.

Mr. Tobias: a big thanks for the link to my write up on Mint/Covestor. Apparently, AT is friends w/ one of the Mint.com founder’s which allowed him to share:

• The monetization strategy of this relatively new online finance management service:
  • AT: Their game plan is ad revenue and “sponsored links.” My friend who’s one of the founders says: “Some of the offers we present are sponsored, meaning we earn a referral fee if you sign up for them. However, Mint will always show you an un-sponsored offer ahead of a sponsored one if it will save you more money. We sort offers in order of their value to users, regardless of sponsorship.”
• A response to the concerns about how your login credentials are used/stored:
  • AT: My friend responds: “Mint does not store your credentials, we use them once to create a linkage with your account(s). Consider the benefits of being able to see all your account activity in one place – makes it easy to spot any suspicious activity (remember 90% of fraud occurs off line). Mint offers alerts (via email, or text message) to bring unusual spending to your attention.”
• Click here for the full article…

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