Author of the article:
Article content
Wealth management business is part of evolution to deliver integrated advisory1, planning, and investment services across people’s full financial lives
As the nation’s second largest retirement provider, Empower brings a leading digital-first planning experience that combines proprietary financial technology with human advice1
Seasoned Empower executive Carol Waddell named president of Empower Personal Wealth business
GREENWOOD VILLAGE, Colo. — Empower, a titan of the retirement planning industry, has announced its ambitious expansion in consumer wealth management with the launch of its Personal Wealth division to make money management simpler, clearer, and more accessible. We apologize, but this video has failed to load. Try refreshing your browser, or
Advertisement 2
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account
Get exclusive access to the National Post ePaper, an electronic replica of the print edition that you can share, download and comment on
Enjoy insights and behind-the-scenes analysis from our award-winning journalists
Support local journalists and the next generation of journalists
Daily puzzles including the New York Times Crossword
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account
Get exclusive access to the National Post ePaper, an electronic replica of the print edition that you can share, download and comment on
Enjoy insights and behind-the-scenes analysis from our award-winning journalists
Support local journalists and the next generation of journalists
Daily puzzles including the New York Times Crossword
REGISTER TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account
Share your thoughts and join the conversation in the comments
Enjoy additional articles per month
Get email updates from your favourite authors
or
Article content
Financial Post Top Stories
Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.
Email Address
Sign Up
By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails or any newsletter. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300
Thanks for signing up! A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of Financial Post Top Stories will soon be in your inbox. We encountered an issue signing you up. Please try again
Article content
With $1.3T in defined contribution assets under administration2, the strategic move is the next step in the company’s evolution following its acquisition of pioneering digital wealth manager Personal Capital in 2020. A challenger brand focused on improving how people plan, save and invest, Empower rapidly scaled to serve over 17 million Americans through the combination of Great-West Financial, J.P. Morgan Retirement Plan Services, Putnam Investments, and purchases of the MassMutual and Prudential Financial retirement businesses.2 A financial solutions provider, Empower continues to expand its offerings to meet the needs of individuals and employers, and through partnerships with independent financial advisors. Answering the call: modernizing wealth management
Managing money is a fragmented experience for many Americans, whose finances are typically spread across many different institutions, and 54%3 say they wish they’d gotten financial advice sooner. Empower’s technology and comprehensive financial dashboard creates clarity and confidence, bringing together everything people have and owe – from credit cards and cash, to loans, investments, and retirement accounts – with the power of human advice. With its deep understanding of retirement savings, Empower identified a need to harmonize people’s long-term savings with all aspects of their wealth planning: among Empower plan participants, those who integrate their accounts on its financial dashboard have a retirement savings rate nearly double those who don’t.4
Additionally, its Personal Strategy+ offering delivers a breakthrough solution for monitoring and rebalancing accounts held at other institutions, such as 401(k)s, for a truly seamless approach to managing wealth across all the places clients have and wish to keep their money. Its product lineup also includes Empower Personal Cash™, a high-yield cash account and joint account option to simplify family finances and budgeting.5
Edmund Murphy III, president and CEO of Empower says: “Personalized, comprehensive, and intuitive digital experiences are creating explosive progress in the way Americans can plan and manage their money. We’re magnifying the power of tech-driven advisory combined with real-live, objective advice to fundamentally change the game for the better.”
According to Empower research, only 57% 6 of Americans have some form of retirement savings. Carol Waddell, president of Empower Personal Wealth says: “Saving for retirement is the bedrock to a secure financial future, but we won’t stop there. Empower Personal Wealth represents the next generation of advice through people and technology. We’re here to help answer people’s money questions, so they can take on what’s next in life, work, and play.”
Article content
Article content
As part of its mission to advance financial freedom for all, Empower serves people across the financial spectrum including mass market, mass affluent, and high net worth customers. It offers financial tools free on its digital experience at Empower.com , the App Store and Google Play, and as a place to connect with skilled fee-based financial professionals. The company launched a new personal finance news site and newsletter, The Currency™, and a brand campaign, “Empower What’s Next” with TV commercials airing nationwide . ABOUT EMPOWER
Empower, a leader in financial planning, investing, and advice, is dedicated to creating financial freedom through people and technology. It administers approximately $1.3 trillion in assets for more than 17 million retirement plan participants and is the nation’s second-largest retirement plan recordkeeper by total participants.2 Connect with us on Empower.com . 1 Advisory services are provided for a fee by either Personal Capital Advisors Corporation (“PCAC”) or Empower Advisory Group, LLC (“EAG”) depending on your specific investment advisory services agreement. Both PCAC and EAG are registered investment advisers with the Securities and Exchange Commission (“SEC”) and subsidiaries of Empower Annuity Insurance Company of America. Registration does not imply a certain level of skill or training. Investing involves risk. Past performance is not indicative of future returns. You may lose money. 2 As of January 31, 2023. Assets under Administration (AUA) refers to the assets administered by Empower pursuant to service contracts, including recordkeeping, for retirement plans and participants, IRAs and other pension accounts. On August 1, 2022, Empower announced that it is changing the names of various companies within its corporate group to align the names with the Empower brand. For more information regarding the name changes, please visit http://www.empower.com/name-change . 3 Survey of 2,000 Americans commissioned by Empower, April 2022
4 Empower analysis of approximately 4.3 million active plan participants as of 9/30/22. 5 Empower Personal Cash™ is offered through Personal Capital Services Corporation (“PCSC”). PCSC is not a bank. Bank deposit products provided by UMB Bank n.a., Member FDIC. To participate in the program, you must open an account at UMB Bank, through which your funds will be placed in accounts at participating program banks. The advertised interest rates are paid by participating program banks, not by UMB. Your funds will be FDIC insured up to applicable limits while in transit through UMB Bank. PCSC receives a fee from each program bank in connection with the program that is based on the aggregate daily closing balance of deposits held in program accounts by such program bank. The fee may vary from program bank to program bank and will generally increase as the aggregate amount of funds held in program accounts with the program bank increases. Advertisement 4
Article content
The information provided in your account application is being provided by you to UMB Bank and PCSC simultaneously. Each of UMB and any EMPOWER company or affiliate may use this information in accordance with its respective privacy policy. Upon acceptance of the application, an account will be opened with UMB Bank. 6 Survey of 2,000 Americans commissioned by Empower, October 29 to November 3, 2021
Any reference to the advisory services refers to either Personal Capital Advisors Corporation (“PCAC”) or Empower Advisory Group, LLC (“EAG”). Advisory services are provided for a fee by either Personal Capital Advisors Corporation (“PCAC”) or Empower Advisory Group, LLC (“EAG”) depending on your specific investment advisory services agreement. Both PCAC and EAG are registered investment advisers with the Securities and Exchange Commission (“SEC”) and subsidiaries of Empower Annuity Insurance Company of America. Registration does not imply a certain level of skill or training. Investing involves risk. Past performance is not indicative of future returns. You may lose money. The information contained herein is being provided for discussion purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy or sell securities. All visuals are illustrative only. © 2023 Empower Annuity Insurance Company of America. All rights reserved. “EMPOWER” and all associated logos, and product names are trademarks of Empower Annuity Insurance Company of America. View source version on businesswire.com: https://www.businesswire.com/news/home/20230308005032/en/
Contacts

Empower Launches Personal Wealth Division With Digital-First Planning Experience to Help Americans Achieve Financial Freedom

and now with the details
Jeddah - Yasmine El Tohamy - RIYADH: Saudi Arabia’s Public Investment Fund has announced the launch of Halal Products Development Co. aimed at localizing the halal production industry in the Kingdom. The launch of the new firm is expected to help promote Saudi Arabia as a global halal hub, according to a press release. It further noted that HPDC will help enable local players; small and medium-sized enterprises, in particular, to grow and expand across global halal markets. It will also help develop the halal production industry in Saudi Arabia through partnerships with key local and international players, along with creating job opportunities. “HPDC aims to localize knowledge, technology, and innovation for the development of halal products including foods, cosmetics, and pharmaceuticals. The company also aims to promote investment and economic opportunities for the industry by introducing various services, including specialized advisory,” said PIF in the press release. It further added that the company will also help PIF and its portfolio companies to access a variety of collaboration and investment opportunities across global halal markets. The launch of the new firm comes in line with the goals outlined in the Kingdom’s Vision 2030, aiming at diversifying Saudi Arabia’s economy away from oil, along with developing key sectors including goods and retail, and food and agriculture. The PIF is one of the world’s largest sovereign wealth funds, with assets valued at $620 billion, according to data released by Sovereign Wealth Fund Institute in April. Earlier in October, PIF Governor Yasir Al-Rumayyan revealed a strategy detailing plans for the fund’s assets to reach between $2 to $3 trillion by the end of this decade. “We want to reach $1 trillion by 2025. And we are almost now less than $700, we need close to $400 billion to reach this size of assets,” said Al-Rumayyan, during an interview given to the Thmanyah podcast. He added: “We have a complete plan from now till 2030, on how to reach a trillion and reach between $2 to $3 trillion, and His Highness Crown Prince is determined to reach it.”
In September, PIF launched the National Real Estate Registration Services Co. to digitize and develop the local real estate sector through a comprehensive digital platform. In a press release, PIF noted that the new platform will help build a comprehensive digital database of all public, residential, commercial, and agricultural units of property across the Kingdom, along with ensuring transparency in the real estate sector. These were the details of the news Dubai to offer 10% of Empower in fourth state-linked IPO this year -Gulf News for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new. It is also worth noting that the original news has been published and is available at Arab News and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

Dubai to offer 10% of Empower in fourth state-linked IPO this year -Gulf News

Norton’s November 1, 2022 keynote will highlight the role of solar in creating resiliency and social equality; will touch upon the importance of distributed energy through his conservation work in Kenya. Free, virtual event on November 1-2, 2022 will feature sessions discussing innovations, ideas, and technologies influencing the digital future of the solar industry. Download
In support of the Maasai Wilderness Conservation Trust, Aurora Solar will donate five dollars for every person who registers for Empower 2022, up to $25,000, and will match donations, up to an additional $25,000, made to this cause through the Aurora/MWCT GoFundMe page: https://gofund.me/2ed85acf (Photo: Business Wire)
In support of the Maasai Wilderness Conservation Trust, Aurora Solar will donate five dollars for every person who registers for Empower 2022, up to $25,000, and will match donations, up to an additional $25,000, made to this cause through the Aurora/MWCT GoFundMe page: https://gofund.me/2ed85acf (Photo: Business Wire)
October 24, 2022 09:00 AM Eastern Daylight Time
SAN FRANCISCO--( BUSINESS WIRE )-- Aurora Solar , a cloud-based platform creating a future of solar for all by powering industry professionals to make solar simple and predictable, today announced Edward Norton as a keynote speaker at its third annual Empower event. In addition to being a Golden Globe winner and Academy Award nominee, Norton has participated in numerous solar advocacy efforts over the past 25+ years and serves as US Board President of the Maasai Wilderness Conservation Trust (MWCT), which operates a range of programs where solar plays an important role in helping protect the ecosystems and biodiversity of East Africa. “Edward has a long history with the solar industry and as a conservationist,” said Chris Hopper, co-founder and CEO, Aurora Solar. “His passion for and views on solar closely align with our mission to create a future of solar for all. We’re thrilled to add Edward to Empower’s roster of world-class speakers who are collectively advancing the solar industry and creating a more sustainable, resilient future.”
During his keynote titled “The Importance of Solar for All,” Norton will share his views on the role of solar in creating resiliency and social equality. He will also discuss the importance of distributed energy and how it has come to life through the MWCT’s Chyulu Carbon Project, which he has been supporting for the past 20+ years. One of the organization's newest projects focuses on building energy storage and solar infrastructure to power electric vehicles in remote parts of Kenya to help protect wildlife. In support of this cause, Aurora Solar will donate five dollars to this initiative for every person who registers for Empower 2022, up to $25,000, and will match donations, up to an additional $25,000, made to this cause through the Aurora/MWCT GoFundMe page; donate here . Empower is open for anyone to attend and features 35+ solar experts as part of its speaker lineup. From solar professionals seeking to earn NABCEP CEUs to industry advocates who are passionate about accelerating the clean energy future, Empower offers something for everyone. To learn more about Empower 2022, view the full agenda, and register for the event, visit https://aurorasolar.com/empower-2022-agenda/ . About Aurora Solar
Aurora is creating a future of solar for all. The company is putting the power of data and technology into the hands of every solar professional to make solar adoption simple and predictable. The cloud-based platform uses data, automation, and AI to streamline workflows and grow solar businesses faster. More than 7,000 of the industry's top organizations rely on Aurora and over 10 million solar projects have been designed with the platform globally. The San Francisco-based company was the only climate tech business named to the 2022 Forbes AI 50 and was voted the best solar software by Solar Power World in 2021. For more information, visit www.aurorasolar.com and follow on Twitter @AuroraSolarInc . Contacts

Edward Norton — Award-Winning Actor, Filmmaker, and Conservationist — Joins Aurora Solar’s Speaker Lineup for Empower 2022, a Premier Virtual Event for the Solar Community

Black Knight’s Empower offers an end-to-end digital platform that decreases friction in origination
Optimizing the mortgage process means finding fast, efficient solutions for each part of the customer journey. When it comes to origination, modernization is key to enhancing the customer experience, improving overall cycle times and increasing overall profit. Regardless of the size of a lending business, having the right origination software is the first step in creating a homebuying experience built for the 21st century. Black Knight, a leader in providing integrated software solutions, has delivered a system for lenders of all sizes. Empower, Black Knight’s loan origination system (LOS), offers an end-to-end digital platform that supports retail, consumer-direct, home equity, correspondent, wholesale and assumption channels – all in a single system. “A preconfigured and fully integrated platform eliminates the need for disparate third-party systems, making it a true all-in-one solution for origination,” explained Joe Nackashi, CEO of Black Knight. Empower supports first mortgages, home equity loans and lines of credit and also features integrations with a full suite of high-performing Black Knight origination solutions including an industry-leading product and pricing engine, fee service, compliance validation testing, a digital point of sale system, eClose, business intelligence and more. “Empower is helping lenders reduce, and in some cases, eliminate many pain points in today’s origination process by delivering configurable, dynamic capabilities in one complete system,” said Rich Gagliano, president of origination technologies. Black Knight’s LOS supports data integrity and security all while eliminating the errors and duplicate entries common with using multiple systems. The system also provides management reporting on user productivity and loan metrics derived from a beginning-to-end workflow that can reduce costs and manual tasks. By decreasing friction and eliminating touchpoints in the origination process, Empower provides lenders, loan officers and borrowers a faster, smoother and more streamlined borrowing experience. The system’s bundled, configurable approach helps lenders scale their business to any market condition with an all-inclusive, seamlessly integrated digital ecosystem – at one low cost per loan. “Using this single platform, lenders gain access to API-based integrations and advanced workflow capabilities to deliver a complete digital mortgage experience to their borrowers,” said Craig Rebmann, managing director of origination technologies and product management. Through the automation of repetitive tasks based on the lender’s configurations, Empower reduces the need for human intervention. Referred to as “lights-out processing,” this advanced technology actively monitors the system for any data changes. When an exception occurs, Empower triggers a separate work item and alerts the user that additional reviews are needed, significantly reducing the need for lenders to shift focus and significantly increasing productivity and profit in turn. Empower also integrates with Black Knight’s artificial intelligence/machine learning solution that can improve the work process by reading, comprehending and drawing conclusions based on document or data content, leaving little room for human error. “It can take on ‘stare-and-compare’ and validation responsibilities, such as verification of income, assets and insurance more accurately and at scale,” Gagliano noted. “Using these and other automated capabilities, lenders can manage production more quickly and effectively while reducing the overall cost per loan.”
Joe Nackashi, Chief Executive Officer  
Joe Nackashi leads the company’s overall vision and direction for Black Knight to provide premier solutions and services for many of the nation’s largest lenders and servicers. Rich Gagliano, President, Origination Technologies
Rich Gagliano is responsible for the overall strategy and product direction of Black Knight’s origination technologies. Craig Rebmann, Managing Director Origination Technologies Product Management
Craig Rebmann is responsible for building and enhancing Black Knight’s loan origination system, Empower. With decades of technology and mortgage experience, Craig leads Black Knight’s efforts in the development of LOS technology. Most Popular Articles

Black Knight’s Empower offers an end-to-end digital platform that decreases friction in origination

Empower

Grant

Empower is building a global plastic waste ecosystem. To solve the problem of plastic waste, Empower is built on the same philosophy as the Norwegian bottle deposit system. By rewarding deposit of plastic waste, we can both stop leakage of plastic into the environment, and incentivize collection of leaked waste. Empower is creating a plastic waste fund. This is used to pay people who deliver plastic waste to its stations. For every kg of plastic delivered, the person is rewarded a digital EMP Token worth $1.

Wells Fargo Success Story

Professional Services

Platform Overview

Empower

Compete with Empower?

Compete with Empower?

Discover the right solution for your team