Is Beagle a Scam?

If you’re thinking of using Beagle, you need to know whether it’s safe. Is Beagle a scam? 

Below, we explain whether Beagle is a scam and discuss some steps you can take to improve your safety when using this platform. 

What Is Beagle?

Beagle is a platform that helps you find old, forgotten 401(k) accounts so that you can consolidate them with your current account. 

It describes itself as “your financial concierge.” 

Users enter their personal information to look for their old accounts, and Beagle checks databases and plan providers to see if it can locate them. 

The platform works on a subscription basis. 

Beagle is not a government website but a private paid service. It is a SEC Registered Investment Advisor (i.e., they have fiduciary obligations). 

The company is based in Mountain View, California. 

Is Beagle a Scam?

Beagle is a legitimate service that can help you locate some of your old 401(k) accounts. 

However, user reviews of Beagle are mixed as of this writing. For instance, the platform gets 4.8 out of 5.0 stars (from over 2,600 reviews) on Trustpilot but only 1.0 out of 5.0 stars (from over 15 reviews) on Better Business Bureau. 

Positive reviews praise helpful customer service and the ability to locate forgotten 401(k) accounts.

Negative reviews allege being overcharged, difficulty in canceling the service, and misleading information about found accounts in pre-search that disappear once the payment goes through. 

On online forums like Reddit, people report varying experiences.

Some say that Beagle helped them locate forgotten accounts.

One person writes:

“I just uses them. In a few days, forgot I had a adp account from an old job that has 3400$ in it and another one from an old job I completely forgot about that about about 800$ in it. Had to call both company’s for support to get access because it was so old I had used an email I didn’t have anymore to create the accounts. Spent 40$ to get a few thousand after tax. Totally worth it for me and I just guessed the dates on the jobs.”

Others say that the platform was unable to find accounts they know exist. 

For example, one person writes:

“Beagle is a waste of money. I am currently trying to get a refund out of them. They found 8 accounts in my name. 7 of them were old accounts that had $0 balances. And the last one was my current 401k plan. Even after I gave them my last 4 zip codes, they still failed to find 2 more accounts that I know I have money in.”

Most people recommend using your state’s unclaimed property website to find forgotten accounts. 

Beagle is not Better Business Bureau accredited at the time of writing and holds a “B” rating. BBB ratings are a reflection of how the BBB believes a company interacts with its customers. 

As of this writing, Beagle has received a total of 50 complaints in the last three years, 31 of which have been resolved in the past 12 months. 

The main complaint is from individuals who say that the platform claims to have found an old 401 (k) account that suddenly disappears once they sign up for the service. Others complain about the difficulty in reaching Beagle’s customer service. 

Beagle security

In its privacy policy, Beagle briefly describes its security measures.

It says it uses “appropriate technologies and procedures” to protect your personal information, including passwords, encryption techniques, and firewalls. 

The platform also states that it limits access to your personal information only to employees who need to know it to do their jobs, and it requires its third-party service providers to keep your data confidential, too. 

Beagle also states that it uses third-party cloud service providers who have either informed it that they use security measures to protect personal information, or who have a reputation for using such measures.

Beagle privacy

Beagle explains in its privacy policy the kind of data it collects, why, and with whom it shares it.

It states it may collect the following information: 

• Full name.
• Date of birth. 
• Email address.
• Phone number.
• Address.
• Bank account information.
• Social Security Number.
• Financial status information.

The platform also collects browsing and data, and may get additional information about you from third-party data brokers, Plaid (for linking financial accounts), social networks, and public sources.

Beagle uses the above information to provide and improve its services, manage accounts, send you marketing communications, personalize your experience, conduct internal analytics, and fulfill legal/compliance obligations. It says that it may also share anonymized data in its research reports.

It may share it with service providers who help it operate the platform, employers or plan sponsors (for workplace retirement services), financial institutions (e.g., trustees for 401(k) plans), authorities (if required legally), and buyers (in case of a merger or sale). 

The platform states that it does not sell or rent personal data for third-party direct marketing without permission.

Beagle notes that payment processing goes through services like Stripe and PayPal (i.e., it doesn’t handle your card information directly) and that bank transfers may require you to provide ID verification (e.g., passport, DOB, and address proof). 

The platform uses Google Analytics, Amplitude, and various remarketing vendors for advertising and analytics. 

Data is hosted on AWS servers in the U.S.

You can opt out of marketing emails, update your information through your account, and request data changes by emailing support@meetbeagle.com. 

California residents have additional CCPA rights, including the right to know, delete, and opt out of data sharing.

Beagle retains data as long as it considers it necessary for legal or business purposes. 

When it no longer needs your personal information, it says it securely deletes or destroys it. It also notes that the payment processors it uses and other third-party sources, remarketing vendors, email marketing providers, or AWS have their own data retention procedures and policies, and that you should read them to understand them. 

It does not respond to “Do Not Track” browser signals.

So, Should You Use Beagle?

Depends.

Beagle may be a good option if you’ve changed jobs several times and can’t find your old 401(k) accounts (and especially if you’ve already contacted former employees or providers without much success). 

It may not be the best choice if you haven’t yet tried free methods (including the Department of Labor’s Retirement Savings Lost and Found Database) or if you’d rather not share sensitive data like your SSN with a third-party aggregator. 

How to Use Beagle Safely and Privately 

• Verify found accounts yourself. Confirm any found 401(k) accounts directly with the plan provider before paying or taking action.
• Try free alternatives first. Search state unclaimed property databases and contact former employers before paying for Beagle. 
• Know the billing terms. Review pricing, renewal terms, and cancellation policies carefully to avoid unexpected charges.
• Document cancellation requests. Keep records of cancellation emails or support tickets in case you need proof to dispute charges.
• Use a masked email. This helps limit exposure of your primary inbox and reduce cross-service tracking. If you’re a DeleteMe customer, you can use our masked email address. 
• Don’t share unnecessary information. Only provide the required data when signing up for Beagle (a good privacy practice overall). 
• Review third-party policies. Beagle recommends checking the privacy policies of payment processors, Plaid, and advertising partners because they govern how your data is handled outside Beagle.
• Limit marketing tracking. Opt out of marketing emails and personalized ads using unsubscribe links and industry opt-out tools as per the Beagle policy.
• Manage cookies. Turn off or restrict cookies in your browser to reduce tracking. 
• Avoid sensitive email communication. Don’t (ever) send Social Security numbers, financial details, or identity documents through email, as email is not secure.
• Delete data. Use your account settings or contact support to delete the personal information you no longer want stored.
• Minimize social media interactions. Don’t use social media features on the Beagle site if you’d rather not have your data shared with external platforms.
• Close your account when you’re done. This helps stop further data collection and starts the data retention countdown.