02.16.24

Wealth Management Division Helps Propel Empower to New Records

by: Steve Randall

Empower has achieved record earnings as the firm’s retirement and wealth management services posted strong growth in 2023. Empower Personal Wealth, launched last year through a combination of Empower's legacy retail unit and the Personal Capital business it acquired in 2020, saw a 31% year-over-year growth in assets under administration to $72 billion, driven by net inflows and more favorable market conditions. “Through our investment, Empower has made a significant commitment to the retirement services market, and our intent is to build on that through continual service to employers, plan participants and the advisors who serve them,” said Empower President and CEO Edmund F. Murphy III. “Empower is extending its legacy of being a valued provider of financial services to more people who want financial advice, education and investment expertise."

Read the full article on InvestmentNews