Empower (Personal Capital) Review
Free financial dashboard with optional wealth management
Empower (formerly Personal Capital) has a split personality: a free financial dashboard that is genuinely the best in class, and a wealth management service for high-net-worth investors ($100K+ minimum).
The free dashboard aggregates all your accounts — bank, brokerage, retirement, credit cards — into one view with net worth tracking, spending analysis, retirement planning tools, and fee analyzer. The retirement planner alone is worth signing up for.
The paid wealth management service (0.89% fee, $100K minimum) provides human advisors and custom portfolios. It is expensive compared to Wealthfront/Betterment, but includes tax optimization, estate planning, and a dedicated advisor.
What we like
- Free dashboard is genuinely the best
- Net worth tracking across all accounts
- Retirement planner is excellent
- Fee analyzer finds hidden costs
- Human advisors for wealth management
What could be better
- $100K minimum for managed investing
- 0.89% fee is high for robo-management
- Aggressive sales calls after signup
The Bottom Line
Empower (Personal Capital) earns a 4.3/5 rating. A solid option worth considering based on your specific needs. The commission structure pays well for each qualified referral.
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