Empower
Empower is a financial services company headquartered in Greenwood Village, CO, serving over 71,000 organizations and more than 17 million individuals with comprehensive wealth management services and personalized financial guidance.
Company Overview
Empower operates in the Financial Services industry and is headquartered in Greenwood Village, Colorado, USA. With a team size of 11,828, it is classified as a very large enterprise. The company serves over 71,000 organizations and more than 17 million individuals as of April 1, 2022. Empower focuses on providing tools and resources that assist individuals in achieving their financial goals, emphasizing personalized guidance and critical support.
History
Empower has a history that dates back to 1891, originally established as an insurance firm on the Canadian prairie. Over the years, the company has evolved significantly, expanding its services and capabilities within the financial sector. Notably, it acquired Personal Capital, a registered investment adviser and wealth manager, in 2020, enhancing its wealth management offerings.
Services Offered
Empower provides a comprehensive range of wealth management services, including personalized advice and financial wellness technology. The company offers managed and self-directed retirement accounts, after-tax investment accounts, and a high-interest cash account with no fees or minimums. Additionally, it features a variety of financial tools such as a retirement planner, net worth calculator, budget planner, and investment check-up.
Assets Under Management
As of December 31, 2023, Empower has assets under management (AUM) totaling $3.376 billion. The company also manages assets under administration exceeding $1.4 trillion. It offers a professionally managed socially responsible portfolio directly to individual investors, reflecting its commitment to responsible investing.
Diversity and Sustainability Initiatives
Empower has implemented a Supplier Diversity Program aimed at diversifying its supplier base. The company is committed to diversity, equity, inclusion, and belonging, with 24% of its associates participating in a Business Resource Group. Additionally, Empower tracks and reports its Scope 1 and 2 carbon emissions through its parent company, Great-West Lifeco Inc.'s Carbon Disclosure Project response.