Empower Retirement voted No. 1 by plan advisors in six key categories
Nation’s second largest retirement service provider cited again as superlative choice for value, fees, client service
Empower’s reputation among plan advisors earns highest marks
Retirement plan advisors across the country have once again named Empower Retirement No. 1 when it comes to “Value for Price” – a top consideration for them when choosing a recordkeeper, according to PLANADVISER Magazine.
For four years running, Empower Retirement was named the top provider by the advisors for “Fee Structure for Advisers.”
In a survey of 352 advisors conducted by PLANADVISER, Empower was named No.1 in six categories –including two new categories: “Fee Structure for Plan Sponsors and “Plan Sponsor Client Services.”
In existing categories, Empower was also top ranked in the categories of “Best Overall Service, micro plans” (under $5 million), and “Best Overall Service, small plans” ($5 – $50 million).
In addition, Empower is No. 1 in overall favorability among survey participants.
Empower Retirement was created in 2014 and is the nation’s second largest retirement services provider1 serving all segments of the employer-sponsored retirement plan market including the advisor-sold market where the firm works closely with some 30,000 advisors across the country.
“For four years we’ve executed against our goal of creating a better retirement savings experience for American workers,” said Empower President Edmund F. Murphy III. “As we grow, we have continued to focus our advisor-centric business model on helping these important stakeholders serve our clients together.”
Advisors who work closely with Empower have noted the importance of the collaborative model the firm is working to advance in the marketplace.
“It is critically important to work with service providers that have a shared mission around the employers and employees who we serve together,” said Troy Hammond, President and CEO of Santa Barbara, California-based Pensionmark Financial Group. “Working together as a team, not as competitors, mitigating overlapping services and costs, and identifying ways to create synergistic successes have been trademarks of Empower’s culture.”
Kaci Skidgel, president of the corporate retirement practice at Dallas-based Summit Financial Group, Inc. said, “Empower is one of the leaders in the industry with respect to investing in technology, offerings and quality service for both advisors and employers. As an advisory firm, we value the partnership of service providers like Empower who continually invest in technology and provide innovative solutions for the participants we serve.”2
The survey results are part of PLANADVISER’s annual “Retirement Plan Adviser Survey” which examines the factors that advisors consider when selecting providers and spotlights the companies they prefer, according to the magazine’s editors. For more information on the survey see the PLANADVISER web site.