Empower Named Retirement Leader of the Year
Formed less than two years ago, firm is on mission to address nation’s retirement savings challenge
Empower Retirement, the nation’s second-largest retirement services provider, was named Retirement Leader of the Year at the 23rd annual Mutual Fund Industry Awards, held in New York City last night.
"As a firm that strives to help millions of Americans achieve a secure, dignified retirement, we are honored to receive this recognition," said Empower President Edmund F. Murphy III. "Our organization will continue to closely partner with plan sponsors and their participants, as well as the advisors and consultants who serve them, through our unique breadth of expertise, strong commitment to innovative thought and process, and mixture of capabilities and resources."
Empower emerged as the second largest retirement services provider in the U.S. in late 2014, as a result of Great-West Financial’s acquisition of the J.P. Morgan Retirement Plan Services (RPS) large-market recordkeeping business and the subsequent integration of the retirement services business of Putnam Investments.
In 2015, Empower hit the ground running fueled by immediate and sustained organic growth. By the end of the year, the firm had defined contribution retirement plan sales and commitments of $50 billion and almost a million new participants. Further, Empower sales were 70 percent higher than its three predecessor organizations had in 2014 – and the firm grew its participant count at twice the market rate.
In addition, the firm established the Empower Institute to develop original research and examine theories related to retirement, investments, savings and associated topics. Empower has also engaged in significant public policy advocacy, working closely with legislators and regulators on numerous retirement and investing issues of importance to clients and participants.
Empower is further strengthening its brand recognition among businesses, advisors and individuals with highly visible marketing activities. These include a multi-faceted advertising campaign centered on the retirement-oriented theme, "Thinking Further Ahead." In addition, Empower is establishing an active social media presence to drive further discussion and interaction with stakeholders. The firm is also creating an active sports marketing program by partnering with three National Football League teams and PGA Tour professional Robert Streb to help raise the brand’s visibility with a broad demographic.
Organized by Pageant Media, the Mutual Fund Industry Awards, "recognize the people and organizations that stood out for their excellence, achievements and contributions to the mutual fund industry." Retirement Leader of the Year is awarded to a firm that has made a key impact on growing retirement assets with unique retirement solutions, marketing campaigns and significant contributions to the retirement industry at large, according to Pageant.
Headquartered in metro Denver, Empower Retirement administers $411 billion in assets for 7.6 million participants. It is the nation’s second-largest retirement plan record keeper by total participants (Pensions & Investments, April 2016). Empower serves all segments of the employer-sponsored retirement plan market: government 457 plans, small, midsize, and large corporate 401(k) clients, non-profit 403(b) entities and private-label recordkeeping clients. For more information, please visit www.Empower-retirement.com.
Stephen Gawlik – 303-737-0899 (office), 617-417-4408 (cell)
To learn more about how we’re empowering plan sponsors and their participants to be more engaged in their retirement plans than ever before, call us at 800-719-9914.
Latest Press Releases
According to early results of its survey of advisors, PLANADVISER said Empower was named No. 1 in multiple categories.
Firm driving additional scale and scope through strategic acquisitions, record sales.
According to the Denver Business Journal, the 2020 Most Admired CEO program honors top-ranking executives who are guiding their companies through the challenges posed by the Covid-19 pandemic, and whose past success is evident in the enduring strength of the companies they lead.