Empower Retirement to acquire Personal Capital
"Empower and Personal Capital are joining forces to take the next step forward in the evolution of an integrated platform to deliver personalized advice, financial wellness and comprehensive financial planning to millions of individual investors and retirement plan participants"
For many Americans, the current pandemic has caused a current state of financial instability and insecurity.
The combination will bring together Empower’s leading retirement plan services and integrated financial tools with Personal Capital's rapidly growing, digitally-oriented personal wealth management platform.
Leading retirement services provider aims to inspire more Americans with broad outreach.
Financial market perspective and relief programs
1 As of May 31, 2020.
2 As of May 31, 2020. Individuals and organizations refers to all retirement business of Great-West Life & Annuity Insurance Company and its subsidiaries and affiliates, including Great-West Life & Annuity Insurance Company of New York marketed under the Empower Retirement brand.
3 As of May 31, 2020. Information refers to the business of Great-West Life & Annuity Insurance Company and its subsidiaries, including Great-West Life & Annuity Insurance Company of New York and GWFS Equities, Inc. GWLA’s consolidated total assets under administration (AUA) were $656B. AUA is a non-GAAP measure and does not reflect the financial stability or strength of a company. GWLA’s statutory assets total $47.7B and liabilities total $46.1B. GWLANY statutory assets total $1.59B and liabilities total $1.48B.