Empower is worth signing up for if you want one free place to see your net worth, your investments and whether you are on track to retire. Skip it if what you need is a detailed monthly budget, or if a sales call from a financial advisor would bother you.
Empower is the company that bought Personal Capital in 2020 and moved it under its own name in 2023. The free tools are now called the Empower Personal Dashboard. The paid advice is called Personal Strategy, and it costs 0.89% a year once you invest $100,000 or more.
Empower at a glance
Formerly Personal CapitalThe Empower Personal Dashboard is a free website and app that pulls your bank, card, loan and investment accounts into one view. Personal Strategy is the paid service: a managed portfolio and a financial advisor.
The catchSign-up asks for your mobile number, and you agree to marketing calls and texts from Empower. You can opt out at any time.
Try Empower's free toolsWe checked every number here against Empower's own site, its sign-up page and the fee brochure its advisory arm files with the SEC, as of this update. Still comparing? Jump to how Empower compares.
One note: this is not the Empower cash advance app. That app changed its name to Tilt, and we cover it in our Tilt review.
What happened to Personal Capital?
Nothing was shut down. It was renamed. Empower, a retirement plan company based in Colorado, bought Personal Capital in 2020. In March 2023 it launched a division called Empower Personal Wealth and folded the Personal Capital tools and advisory service into it. Today personalcapital.com forwards straight to empower.com.
| Personal Capital name | What Empower calls it now |
|---|---|
| Free financial dashboard | Empower Personal Dashboard |
| Wealth management | Personal Strategy, in three tiers: Investment Services, Wealth Management and Private Client |
| Personal Capital Cash | Empower Personal Cash |
| Personal Capital Advisors | Empower Advisory Group, LLC |
| Personal Capital app | The Empower app, shared with Empower's workplace retirement customers |
If you remember the Investment Checkup and the Fee Analyzer, those names are gone from Empower's public tools pages. The portfolio tools now sit under one heading, Portfolio Analysis.
Empower is not a startup. Its advisory arm, Empower Advisory Group, reported about $195 billion in assets under management across all of its services at the end of 2025, and Empower's own timeline says Empower Personal Wealth passed $100 billion in assets under administration in 2025. The parent company is Great-West Lifeco, a Canadian financial firm.
Is Empower legit and safe?
Yes. Empower is a real, regulated company. Empower Advisory Group has been registered with the SEC as an investment adviser since 2000. Money in a Personal Strategy account is held in your name at Pershing, a Bank of New York Mellon company, and Empower says it never takes custody of client assets.
For the free dashboard, the question is your data. Empower says it encrypts data with AES-256, uses multifactor authentication, stores your data in the United States and does not sell it. No system is risk free, so use a password you do not use anywhere else and turn on every login protection it offers.
There is one mark on its record. In August 2025, Empower Advisory Group and Empower's broker-dealer arm settled with the SEC over how advisors in its workplace retirement business disclosed conflicts of interest when they recommended a managed account service between 2019 and 2022. Empower Advisory Group paid a $750,000 penalty and about $4.06 million in disgorgement, without admitting or denying the findings. It is disclosed in the brochure Empower files with the SEC. The case was about 401(k) plan participants, not the free dashboard. It is still a reminder that Empower's representatives can earn incentive pay when you move money in.
Legit does not mean you cannot lose money. A managed portfolio can fall in value, and Empower's own brochure says no one guarantees a profit.
What customers say
It depends which Empower you mean. Empower now uses one app for everyone, and it had a 4.8 out of 5 rating from about 417,000 ratings on the App Store when we checked. On Google Play it sat at 2.7 from about 30,000 reviews.
On Trustpilot, the empower-retirement.com profile showed 1.2 out of 5 from 492 reviews. Nearly all of the recent ones come from people with a workplace 401(k) who had trouble with rollovers, withdrawals or phone support. That is a different business from the free dashboard, but it is the same company. At least one App Store reviewer who came over from the old Personal Dashboard app also described a bumpy move to the combined Empower app.
The free Empower Personal Dashboard
The dashboard costs nothing. Empower's own FAQ says the dashboard and its financial tools are completely free. You link your accounts and it pulls the balances and transactions into one view. You can connect checking and savings accounts, credit cards, loans, mortgages, IRAs, 401(k)s and other investment accounts.
| Tool | What it does |
|---|---|
| Net Worth | Adds up what you own and what you owe across every linked account |
| Budgeting & Cash Flow | Shows money in and money out, and lets you set and adjust a budget |
| Transactions | Sorts your spending into categories automatically |
| Retirement Planner | Tests different retirement ages and spending plans, gives you a Retirement Readiness Score and runs a recession scenario |
| Portfolio Analysis | Tracks your investments against benchmarks and shows your allocation and risk level |
| Savings Planner | Stress-tests your savings plan against your goals |
| Debt Paydown | Shows everything you owe in one place and tracks your progress |
| Emergency Fund | Works out how much cash to keep on hand for surprises |
The Retirement Planner is the tool Empower leads with, and it is the best reason to sign up. It starts from your linked balances, lets you plan for big events like college, and shows how your plan holds up at different retirement ages or in a recession. For more options, see our list of retirement planning tools.
The net worth view is the other reason. One login shows every account, so you can stop updating a spreadsheet. If you want to see where you stand, compare your number with the average net worth by age, or look at other net worth tracker apps.
Budgeting is the weak spot. Empower can show where your money went and let you set a budget, but budgeting is one tool out of eight on a site built around investing and retirement. If you want a detailed monthly budget you can share with a partner, a dedicated app does it better. Monarch Money is the one we would look at first.
What happens when you sign up
Signing up takes a few minutes. Here is the order it goes in.
- Create a login. Empower asks for your name, email, mobile number, a username and a password.
- Confirm it is you. Empower asks you to verify your identity.
- Link your accounts. The more you connect, the more complete the picture.
- Use the tools. Net worth, budgeting and the Retirement Planner fill in from your linked accounts.
Now the catch. The mobile number is required, and the fine print under the sign-up button says you agree to receive marketing calls and texts at that number, including automated ones. Empower also says consent is not a condition of buying anything and that you can opt out at any time.
In practice, an advisor may reach out to offer a review of your finances. That call is how Empower introduces Personal Strategy. You can take it, decline it or ask to be taken off the list. You do not have to become a client to use the free tools, and Empower's own disclosure says people who sign up are not obligated to pay for advice.
Empower Personal Strategy: fees and minimums
Personal Strategy is the paid side. Empower invests your money for you and gives you a financial advisor. It starts at $100,000, and the fee is 0.89% a year until you reach $1 million.
| Tier | You invest | Annual fee | What you get |
|---|---|---|---|
| Investment Services | $100,000 to $249,999 | 0.89% | A team of advisors and a portfolio of ETFs |
| Wealth Management | $250,000 to $999,999 | 0.89% | A dedicated advisor, a financial plan, and a portfolio of individual stocks and ETFs |
| Private Client | $1 million or more | 0.79% on the first $3 million, 0.69% on the next $2 million, 0.59% on the next $5 million, 0.49% above $10 million | Planning specialists, private banking and estate planning help |
The fee covers portfolio management, trading and custody, so you pay nothing extra per trade. It is figured daily and taken from your account once a month. It applies to everything Empower manages for you, including cash that is not invested. The funds in the portfolio charge their own expenses too. Empower's Personal Strategy page puts its average ETF expense ratio at 0.06%, and another page on its site says 0.08%.
Run the math before you sign. At 0.89%, a $100,000 account costs about $890 a year, and a $500,000 account costs about $4,450. Betterment, a robo-advisor, charges 0.25% a year, or $250 on that same $100,000. What the extra $640 buys is a person: an advisor, a financial plan and tax planning. If you would use those, it can be worth it. If you just want your money invested, it is expensive.
Your money is held in your own name at Pershing. Empower builds a diversified mix of stocks, bonds and alternatives. Smaller accounts are mostly ETFs. From $250,000, Empower adds individual U.S. stocks, at least 70 of them according to its site, which lets it harvest tax losses stock by stock. A socially responsible version is available if you ask for it.
Three more rules from the SEC brochure are worth knowing. You can cancel at any time with written notice. If your household balance drops below $25,000, Empower will end the service. And if you want Empower to manage a 401(k) you hold somewhere else, that add-on, called Personal Strategy+, costs 0.49% a year on those assets.
Under $100,000? Empower has two other accounts. The Premier Managed Account puts you in a portfolio of mutual funds starting at 0.50% a year with no minimum. Empower Brokerage lets you trade on your own, with 1,000 free online trades a year and $6.95 a trade after that. Several robo-advisors charge less than 0.50%, so compare them on our list of the best robo-advisors first.
If the advisor is the point, start with Empower's free tools. You will see your whole picture before you talk to anyone.
Empower Personal Cash
Empower also has a cash account, and you do not need to be an advisory client to open one. Empower Personal Cash paid 3.50% APY as of September 17, 2026, with no minimum balance and no account fees. The rate is variable and can change at any time.
Empower is not a bank. Your deposit goes to UMB Bank, a member of the FDIC, which spreads it across a network of program banks. That is how Empower advertises FDIC insurance of up to $5 million in total: $250,000 at each bank. If you already have money at one of those banks, the two balances count together toward that bank's $250,000 limit.
You can set up direct deposit and link the account to payment apps. There is no debit card. Withdrawals are capped at $25,000 a day until the account has been open and funded for 60 days, then $100,000 a day. Interest is paid monthly.
Empower's page compares that rate with a national average savings rate of 0.38% from the FDIC. Rates move, so check it against the best high-yield savings accounts before you move a large balance.
MoreBest cash management accounts
The Empower app
The old Personal Capital app has been folded into a single Empower app. Empower's site now sends everyone to that one app, which also serves its workplace retirement and IRA customers, and the old Personal Dashboard listings did not load when we checked. The app runs on iPhone, iPad and Apple Watch and on Android, and the App Store listing asks for iOS 15 or later. The dashboard also works in a web browser.
Empower pros and cons
- Free net worth, budgeting and retirement tools
- Retirement Planner works from your linked balances
- An advisor and financial planning from $100,000
- Cash account with no minimum and no account fees
- Sign-up means agreeing to marketing calls and texts
- 0.89% a year costs more than a robo-advisor
- $100,000 minimum for Personal Strategy
- Budgeting is not the focus
Who Empower is best for
Empower fits three kinds of people. The first wants a free scoreboard: one login that shows net worth, investments and a retirement forecast. The second is close to a big decision, like when to retire or whether to roll over a 401(k), and wants to test it with real numbers. The third has $100,000 or more and wants a person to manage it and plan around it.
It is the wrong pick if you need help with day-to-day spending, if you want the cheapest way to invest, or if you would rather not hand over a phone number. In those cases, use one of the alternatives below.
How Empower compares
Empower does two jobs, so it has two kinds of competitors. If you came for budgeting, look at Monarch Money or Rocket Money. If you came for managed investing and do not have $100,000, look at Betterment.
| App | Best for | Cost | Minimum | |
|---|---|---|---|---|
| Empower | Net worth, investments and retirement planning | Free tools. Advice is 0.89% a year | $0 for tools, $100,000 for advice | See Empower |
 Monarch Money | A detailed budget, alone or with a partner | $14.99 a month or $99.99 a year | None | See Monarch |
 Rocket Money | Cutting bills and subscriptions | Free plan. Premium is optional | None | See Rocket Money |
 Betterment | Managed investing under $100,000 | $5 a month, or 0.25% a year | $0 | See Betterment |
Monarch Money
Best for hands-on budgetingMonarch is a paid app built around budgeting. You set a plan, track every account in one place and see your progress toward goals. It has no ads, and Monarch says it never sells your financial data.
The catchThere is no free version. After the 7-day trial it is $14.99 a month or $99.99 a year. Through this link, Monarch was showing 50% off the first year for new members when we checked.
Try Monarch MoneyRocket Money
Best for cutting billsRocket Money tracks your income, spending, subscriptions and bills in one dashboard. It can cancel subscriptions and negotiate bills for you, and it also tracks net worth and lets you build a budget.
The catchSome features need Premium, which is priced on a sliding scale you pick at sign-up. A successful bill negotiation costs 35% to 60% of the first year's savings.
Get started with Rocket MoneyBetterment
Best for investing under $100,000Betterment builds and manages a portfolio for you with no minimum balance. It is the simpler pick if you want your money invested and do not have $100,000 for Personal Strategy.
The catchYou do not get an advisor unless you pay 0.65% a year for Premium, which needs $100,000. Moving an investing account to another firm costs $75.
Get started with BettermentFor more detail, read our Monarch Money review, or compare more places to invest on our list of the best investment apps.
How to get started with Empower
- Sign up for the free dashboard. You need your name, email and mobile number.
- Link your main accounts first. Start with checking, credit cards, your 401(k) and any IRAs.
- Check your net worth. Then open the Retirement Planner and set your retirement age and spending.
- Decide about the call. If an advisor reaches out, take the review or ask to be removed from the list.
- Then decide about the fee. Only pay 0.89% a year if you want the advisor, not just the portfolio.
Empower FAQs
Yes, the tools are. Empower says its Personal Dashboard and financial tools are completely free, including the net worth tracker, budgeting and the Retirement Planner. The paid part is optional: Personal Strategy, its advisory service, costs 0.89% a year and starts at $100,000. Signing up does mean agreeing to marketing calls and texts, which you can opt out of.
Yes. Empower bought Personal Capital in 2020 and moved it under the Empower name in 2023. The free dashboard is now the Empower Personal Dashboard, the advisory service is Personal Strategy, and personalcapital.com forwards to empower.com.
Yes. Empower Advisory Group has been registered with the SEC since 2000, and client investments are held at Pershing, a Bank of New York Mellon company. Empower says it encrypts your data and uses multifactor authentication. It did settle with the SEC in August 2025 over conflict-of-interest disclosures in its workplace retirement business. Investments can still lose value.
Personal Strategy costs 0.89% a year on balances from $100,000 to $999,999. That is about $890 a year on $100,000. From $1 million the rate is 0.79% on the first $3 million and drops in steps to 0.49% above $10 million. Fund expenses are extra. If you want a lower fee and do not need an advisor, Betterment charges 0.25% a year once you set up $200 in monthly deposits.
It may. Sign-up requires a mobile number, and the terms under the button say you agree to marketing calls and texts. Empower says you can opt out at any time and that you are not obligated to pay for its advisory service.
It is fine for seeing where your money went, but budgeting is not its focus. Empower is strongest at net worth, investments and retirement planning. For a detailed monthly budget, Monarch Money is built for it and costs $14.99 a month or $99.99 a year after a 7-day trial. Rocket Money has a free plan.
No. The Empower cash advance app is a different company, and it now goes by Tilt. This review covers Empower, the retirement and wealth company that took over Personal Capital. For the cash advance app, see our Tilt review.
Empower Personal Cash paid 3.50% APY as of September 17, 2026, with no minimum balance and no account fees. The rate is variable. Deposits are held at UMB Bank and its program banks, with FDIC insurance of up to $5 million in total, $250,000 per bank. Empower itself is not a bank.
Advertiser disclosure: We may receive compensation from some of the companies listed on this page. This does not influence how we rank them.
Fees, rates and features change. Confirm the current terms on each company's site before you sign up. Investing involves risk, and you can lose money.
