Empower Personal Strategy review 2026

What does Empower Personal Strategy do?

Empower Personal Strategy is a personalized wealth management service that combines human financial advisors with advanced digital tools to help clients manage their financial lives. 

Offered by Empower, a US-based financial services company known for its retirement plans and investment solutions, the service provides tailored financial planning, investment management, and guidance on areas such as tax strategy, retirement income, estate planning, and insurance. 

Clients receive advisor support based on their invested assets. Those with $100,000 or more have access to an advisory team, while clients with at least $250,000 receive two dedicated financial advisors, specialist support and a customized portfolio. Private Client services start at $1 million and provide two dedicated advisors alongside more comprehensive planning and specialist support. Empower’s digital dashboard also allows clients to track their accounts, portfolio and financial projections.

What are the pros and cons of Empower Personal Strategy?

Empower Personal Strategy offers a hybrid wealth management experience that combines automated investing with personalized advice.

Its strengths include low fund costs, access to fiduciary-certified advisors, and advanced planning services.

However, the high account minimum and management fees may limit its appeal to smaller investors.

Pros of Empower Personal Strategy

• Low underlying investment costs: The service uses funds with an average expense ratio of 0.07%, among the lowest in the industry.
• Professional advisor access: Clients receive fiduciary advice from a team of dedicated certified financial planners (CFPs), depending on their balance.
• Comprehensive wealth management: Beyond portfolios, the service offers estate planning and tax strategies.
• Hybrid wealth management model: This combines algorithm-driven investing with human support for convenience and expert guidance.

Cons of Empower Personal Strategy

• High minimum requirement: A $100,000 account minimum excludes many investors.
• Higher fees than robo-only platforms: The management fee starts at 0.89% and decreases with larger balances.
• Brokerage restriction: Clients must use Empower’s custodian (Pershing LLC).
• Best value for affluent clients: The service is most advantageous for those with substantial assets and planning needs.
• Investment restrictions: Investors are limited to investments offered on the platform, as opposed to having access to a broader range of options on platforms like Schwab, Vanguard, or Fidelity.

Investors considering alternatives to Empower Personal Strategy may also look at hybrid or advisor-enhanced options such as Schwab Intelligent Portfolios Premium, Merrill Guided Investing or Vanguard Digital Advisor, which similarly blend automation with planning support. For those wanting a more personalised, full-service wealth management experience, firms like Moneta Group Financial Advisors, Plante Moran Financial Advisors or Exencial Wealth Advisors may be worth exploring.

How much does Empower Personal Strategy cost?

Empower Personal Strategy has a tiered pricing structure based on the total value of assets under management (AUM).

The platform charges a single annual advisory fee that includes portfolio management, financial planning, access to advisors, and use of Empower’s digital dashboard.

Empower Personal Strategy Fee Structure:

• First $1 million: 0.79% annually
• Over $1 million to $3 million: 0.79% annually on that portion
• Over $3 million to $5 million: 0.69% annually on that portion
• Over $5 million to $10 million: 0.59% annually on that portion
• Over $10 million: 0.49% annually on that portion

For clients with assets above $1 million, Empower reduces the fee on the portion of assets that exceeds each threshold. Fees are calculated daily and billed monthly in arrears.

The advisory fee covers wealth management, trading costs and custody, with no trade commissions. However, underlying fund expenses and other applicable investment costs may still apply.

Unlike some competitors that charge separately for advice, such as Vanguard Personal Advisor or Merrill Guided Investing, Empower bundles these services under one pricing model.

However, the cost is higher than many robo-advisors: for example, Betterment Digital charges 0.25% annually, while Schwab Intelligent Portfolios has no management fee but requires a cash allocation.

Empower does not charge trading commissions or custodial fees, though clients still pay the internal expense ratios of exchange-traded funds (ETFs) included in their portfolios.

What is Empower’s minimum account size?

Empower Personal Strategy requires a minimum of $100,000 in investable assets to open an account, reflecting its positioning as a wealth management solution rather than a robo-advisor.

Clients who meet the minimum threshold gain access to automated portfolio management and personalized financial planning, including advisor support at higher asset levels.

For investors with less than $100,000, Empower offers access to its free digital financial tools, including budgeting, retirement calculators, and the personal dashboard. $100,000 gets access to Personal Strategy Investment Services, but the more personalized Wealth Management service with two dedicated financial advisors starts at $250,000, while Private Client begins at $1 million.

By comparison, other robo-advisors set much lower barriers to entry. Betterment and Wealthfront both require only $10 to start investing, while SoFi Automated Investing allows clients to open an account with just $50. Vanguard Digital Advisor also sets a lower minimum at $3,000, making Empower’s threshold one of the highest in the robo-advisory market.

Who should choose Empower Personal Strategy?

Empower Personal Strategy is best suited for investors with higher balances who want a blend of automated investing and personalized wealth management.

With its $100,000 minimum, the platform is designed for clients who need more than basic portfolio management and prefer access to financial planners alongside digital tools.

It works especially well for:

• High-net-worth individuals and families: The tiered advisory model, tax optimization strategies, and estate planning support are valuable for complex financial situations.
• Long-term investors: Empower’s focus on retirement planning and goal tracking makes it appealing for those building wealth over decades.
• Clients seeking bundled services: The advisory fee covers portfolio management, tax strategies, and financial planning in one package, avoiding separate charges.
• Hands-off investors with significant assets: Automated rebalancing, tax-loss harvesting, and asset location reduce the need for day-to-day management.

Those with smaller portfolios may find Empower’s $100,000 minimum a barrier to entry, and may consider alternatives such as Betterment, Wealthfront, or SoFi Automated Investing, which have lower entry requirements.

Additionally, investors seeking more tailored services may consider consulting an independent, fee-only financial advisor.

Is Empower Personal Strategy secure?

Yes, Empower Personal Strategy is considered a secure platform.

As a registered investment advisor (RIA), it is regulated by the US Securities and Exchange Commission (SEC). It operates under a fiduciary standard, requiring it to act in clients’ best interests.

Client assets are held with independent third-party custodians such as Pershing and Folio Investments, ensuring a separation between Empower’s advisory services and the safekeeping of funds.

The platform also employs strong digital protections, including encryption, firewalls, and multi-factor authentication, to safeguard user data.

Accounts are protected by Securities Investor Protection Corporation (SIPC) insurance of up to $500,000 (including $250,000 for cash), which covers custodian failure but not market losses.

Empower Personal Strategy: Customer service

Empower Personal Strategy provides an advisor-led service supported by a nationwide team. Clients are paired with an advisory group that manages portfolio, financial, tax, and estate needs, giving them a consistent point of contact.

Support is available through scheduled phone or video meetings, email, and a secure online portal. Clients also have access to Empower’s digital dashboard and educational resources for goal tracking and financial planning.

Overall, Empower’s customer service is comprehensive and advisor-driven, though the experience may vary depending on the assigned team.

Empower reviews: What do real customers say?

Empower reviews are generally positive, with customers highlighting the combination of digital tools and access to fiduciary advisors.

Advisor quality: Clients appreciate having dedicated advisors who provide investment, tax, and estate planning support, viewing it as a step up from a traditional robo-advisor.

Fees: Feedback is mixed. Some users feel the starting 0.89% fee is fair for personalised advice, while others consider it expensive compared with lower-cost robo-advisors.

Platform experience: The app and dashboard receive strong ratings (4.7/5 on Apple App Store and 4.2/5 on Google Play). Users like the ability to track accounts in one place, though some mention occasional syncing issues.

Empower Personal Strategy: Mobile app

Empower’s mobile app allows customers to access investing and financial planning tools, as well as manage and monitor their wealth from anywhere.

Users can track investment performance, link external accounts, and access the planning dashboard, making it a central hub for both managed portfolios and personal finances.

The app is highly rated, with 4.7/5 on the Apple App store and 4.2/5 on Google Play. 

Many users praise its intuitive design and ability to consolidate all financial accounts in one place. Some, however, note occasional syncing issues with outside accounts.

Key features of the Empower Personal Strategy mobile app:

• View balances, transactions, and portfolio performance.
• Link and track external bank, credit, and investment accounts.
• Schedule deposits, withdrawals, or transfers.
• Set and monitor financial goals such as retirement or debt reduction.
• Access budgeting and cash flow tracking tools.
• Receive account alerts and review performance updates in real time.

Is Empower Personal Strategy worth it?

For investors with at least $100,000 who want a hybrid of automated investing and fiduciary human advice, Empower Personal Strategy can be worth the cost.

Its bundled planning, tax strategies, and dedicated advisors suit high-net-worth clients who want comprehensive wealth management.

The paid advisory fee, which starts at 0.89%, means it's less compelling for cost-conscious or self-directed investors, who can use Empower's free dashboard or a lower-cost robo-advisor instead.

Frequently asked questions

Fact checked 09/01/2026