Is Quicken Owned by Intuit?

For many years, Quicken was recognized as one of the leading personal finance software products available for individuals and families looking to manage their budgets, track expenses, and plan for the future. Its history is closely tied to Intuit, the software company also known for products like TurboTax and QuickBooks. However, as of recent years, there have been significant changes in ownership and development that may leave some users wondering: is Quicken still owned by Intuit?

Background of Quicken and Intuit

The Origins of Quicken

Quicken was developed in the early 1980s by Intuit, co-founded by Scott Cook and Tom Proulx. The product aimed to simplify financial record-keeping for home users who were not accountants or financial professionals. With an easy-to-use interface and practical features, Quicken quickly became a household name in personal finance management.

Growth Under Intuit

Over the decades, Intuit expanded its suite of financial tools, acquiring and developing other major software platforms such as TurboTax for tax filing and QuickBooks for small business accounting. Quicken remained a core offering for individuals and families, gaining millions of users across desktop and later mobile platforms.

Intuit’s Decision to Sell Quicken

Why Intuit Divested Quicken

In 2016, Intuit announced that it would sell Quicken. The decision came as Intuit shifted its focus toward cloud-based services and products with broader growth potential, like TurboTax and QuickBooks Online. While Quicken had a loyal customer base, it was largely a desktop-based product and didn’t align with Intuit’s long-term strategic goals.

The company stated that it wanted to ensure that Quicken continued to receive the attention it needed from a team focused solely on its growth. This led to the product being acquired by a private equity firm that promised to modernize and improve the software.

Who Owns Quicken Now?

In 2016, Quicken was sold to H.I.G. Capital, a private equity investment firm. Under this new ownership, Quicken continued to operate independently and began rolling out new features and updates to adapt to user needs. The transition included improvements in cloud syncing, mobile app functionality, and subscription-based pricing.

Later, in 2021, Quicken changed ownership again. Aquiline Capital Partners, a private investment firm with a focus on financial services and technology, acquired the company. This transition aimed to further enhance Quicken’s growth as a standalone financial software company, with resources focused on innovation and customer satisfaction.

Quicken’s Current Status

Modern Quicken Offerings

Today, Quicken is no longer under the Intuit umbrella and operates as an independent company. Despite this, it retains many of the core features that long-time users appreciate while adding new tools to compete in a more tech-savvy financial landscape. Its current product lineup includes:

• Quicken Starter: For basic budgeting and expense tracking
• Quicken Deluxe: Includes debt reduction and savings goals
• Quicken Premier: Adds investment tracking and financial planning tools
• Quicken Home & Business: Designed for users managing personal and small business finances

Shift to Subscription Model

One of the significant changes under new ownership was the move from a one-time purchase model to a subscription-based model. This allows Quicken to offer continuous updates, security enhancements, and cloud functionality while maintaining user access across multiple devices.

Platform Availability

Quicken is available for both Windows and Mac operating systems. In addition, it offers a mobile companion app and limited web-based access through Quicken on the Web. While the software still emphasizes a desktop foundation, its capabilities have evolved to support syncing and access from anywhere.

Common Confusions and Clarifications

Difference Between Quicken and QuickBooks

One point of confusion is the difference between Quicken and QuickBooks, both of which were once owned by Intuit. While they share some financial management functions, QuickBooks is designed primarily for small and medium-sized businesses, offering in-depth invoicing, payroll, and accounting features. Quicken, on the other hand, is focused on personal finance, household budgeting, and small-scale rental or business income tracking.

Does Intuit Still Provide Support for Quicken?

No, since the sale, Intuit no longer provides support or updates for Quicken. All product development, customer service, and licensing now fall under the independent Quicken company. Users needing assistance should contact Quicken directly through their support channels.

Is Quicken Data Secure?

Under its new management, Quicken has emphasized improved data security and cloud backup options. While it doesn’t offer the same level of cloud-native experience as some modern fintech apps, its cloud sync feature is secure and encrypted. Additionally, users retain local control over their data, which is important to many for privacy reasons.

What This Means for Users

Benefits of Independence

• More focused development on personal finance tools
• Increased responsiveness to user feedback
• Flexibility in pricing and features tailored to specific user needs

The separation from Intuit has allowed Quicken to sharpen its vision as a standalone company, aiming to serve customers who value detailed, customizable, and desktop-anchored financial tracking.

Challenges Faced

• Increased competition from modern fintech apps
• Need to modernize UI and user experience
• Balancing legacy user preferences with innovation

While Quicken continues to be popular, newer apps such as Mint (which is still owned by Intuit), YNAB (You Need A Budget), and Personal Capital are attracting younger, mobile-first users who prefer cloud-based solutions.

Looking Ahead: The Future of Quicken

Quicken’s future will depend on its ability to adapt to the changing financial technology space. As consumers demand more from mobile apps, real-time syncing, AI-powered insights, and seamless bank integration, Quicken will need to maintain its competitive edge without alienating its loyal desktop-focused customer base.

The company has hinted at continuing improvements, including enhanced mobile features, improved automation, and broader financial planning capabilities. Its commitment to innovation under Aquiline Capital Partners may shape its evolution into a modern hybrid of traditional financial software and fintech convenience.

To answer the original question no, Quicken is no longer owned by Intuit. The personal finance software was sold by Intuit in 2016 and is now operated as an independent company under new ownership. Despite the change, Quicken remains a trusted tool for millions of users looking to manage their finances effectively. As it continues to evolve, Quicken aims to blend its legacy strengths with modern financial management features, maintaining its relevance in a rapidly changing digital economy.