Empower vs. Range: which is right for you?
This comparison examines Empower and Range as financial advisors and wealth management services, focusing on their service models, fees, minimums, advisor access, investment approaches, technology, security, and investor fit.
Empower and Range both provide financial advice and wealth-management support, but they use different service models.
Category | Empower | Range |
|---|---|---|
Service type | Tiered, advisor-led wealth management | Subscription-based financial planning and advisory platform |
Advisor model | Personal advisor or advisor team; higher tiers add dedicated advisors and specialists | Team-based access to financial planners and specialists through the platform |
Fees | Asset-based advisory fee; Personal Strategy starts at 0.89%; Private Client uses lower-tiered rates at higher balances | Flat annual subscription tiers: Premium at $2,950, Platinum at $5,950, and Titanium at $9,950 |
Minimum account size | $100,000 for Personal Strategy; $250,000 Wealth Management; | No specific investment minimum |
Investment approach | Personal Strategy portfolios using asset allocation, Smart Weighting, ETFs, individual securities where applicable, and tax optimization | Planning-led advice; discretionary management uses TAMP strategies and models; recommendations may include portfolio optimization |
Typical fit | High-income investors who want managed assets and an advisor relationship tied to portfolio oversight | High-income households that want broad planning needs and flat-fee access to a planning team |
Empower vs. Range: Key services
Empower centers on advisor-managed portfolios and financial and retirement planning, while Range centers on subscription-based planning across a broader household financial picture, supported by dashboard-based advisor access.
Empower:
- Ongoing discretionary investment management
- Periodic portfolio rebalancing
- Tax optimization and tax-loss harvesting
- Financial and retirement planning guidance
- Cash flow, spending, and budgeting guidance
- Portfolio personalization
- Assignment of a personal financial advisor or advisor team
Range:
- Portfolio analysis and investment recommendations
- Discretionary portfolio management through Turn-Key Asset Management Platforms (TAMPs) strategies and models
- Financial planning
º Investments
º Retirement and insurance
º Cash flow
º Real estate
º Equity comp
º Legacy and education
- Tax analysis, tax-loss harvesting evaluation, tax projections, and tax filing in certain tiers
- Rai, a beta AI-powered assistant, supervised
Empower vs. Range: Fees
Empower and Range use different fee structures. Empower uses an AUM-based fee. Range uses a flat subscription fee.
Empower:
Client tier | Account size | Annual advisory fee |
|---|---|---|
Investment Services Clients | $100,000-$249,999 | 0.89% |
Wealth Management Clients | $250,000-$999,999 | 0.89% |
Private Clients | $1 million+ | 0.79% on the first $3 million; |
Range:
Fee type | Amount |
|---|---|
Subscription fees | $49-$10,000 per year |
Premium | $2,950/year |
Platinum | $5,950/year |
Titanium | $9,950/year |
One-time or planning services | $800-$2,000 |
The practical cost difference is straightforward. Empower’s primary fee rises with managed assets, while Range’s primary membership fee is flat. Empower’s fee schedule is easier to connect to a portfolio balance. Range’s fee structure requires readers to confirm the specific tier, one-time services, and any TAMP-related costs before joining.
Empower vs. Range: Minimum account sizes
Empower:
- Investment Services: $100,000 minimum
- Wealth Management: $250,000 minimum
- Private Client: $1 million minimum
- Personal Strategy+: Empower requires at least $25,000
Range:
- Range does not disclose account minimums
Empower vs. Range: Pros and cons
Here is a look at the pros and cons of both Empower and Range to help you decide which is the right fit for you.
Pros of Empower:
- Advisor access: Clients receive a personal financial advisor or an advisor team, rather than relying solely on automated guidance.
- Clear AUM schedule: The core advisory fee table shows specific percentage fees by balance tier.
- Tax-aware investment approach: Tax optimization and tax-loss harvesting are part of the service where applicable.
- Portfolio personalization: Clients may access portfolio personalization, Smart Weighting, socially responsible investing, and market-cap-weighted options where applicable.
Cons of Empower:
- Higher minimum: The general $100,000 minimum limits access for investors with smaller balances.
- AUM-based cost: Fees increase as managed assets increase, even when the percentage rate declines at higher tiers.
- Layered cost structure: The advisory fee is tiered, and the total cost can also include ETF expense ratios and other investment-level expenses.
- Tier-based service access: Some planning, portfolio, and private client features depend on the client’s account tier.
Pros of Range:
- Clear, fixed subscription fees: Range lists annual membership fees by tier, so readers can see the main planning fee upfront rather than calculating it as a percentage of assets.
- Broad planning scope: Planning can cover taxes, retirement, estate, insurance, education, equity compensation, real estate, and cash flow.
- Team-based access: Clients work through a platform alongside planners and specialists rather than relying solely on a single advisor relationship.
- Dashboard and AI tools: Range includes dashboard access and Rai, its beta AI assistant, for personal finance questions.
Cons of Range:
- Advanced services are tier-based: Some services, such as tax projections, estate document creation, and complex tax support, depend on membership tier.
- Fixed fees can still be high: The tiers run from $2,950 to $9,950 per year, so the flat-fee model may still feel costly for users with smaller balances or simpler planning needs.
- Investment costs can still apply: Range’s membership fee does not include all brokerage, transaction, custodian, platform, fund, or possible TAMP strategy costs.
- Estate and AI tools have limits: Range states that it is not a law firm and does not provide legal advice; Rai also has use limits and should not be used as the sole basis for financial, investment, or tax decisions.
Empower vs. Range: Technology and security
Empower clients can view their accounts through Pershing’s online platform or the Empower Personal Dashboard on a web, tablet, or smartphone. This supports account access and portfolio visibility.
Range’s technology is centered on its dashboard. It lists advisor messaging through the Range dashboard, financial plans, goal tracking and prioritization, membership accounts for the user and partner, and consolidated finances in the dashboard.
On security, Empower states that it uses multiple layers of security, including encryption and multi-factor authentication. It provides multifactor authentication, AES-256 encryption, independent audits, SOC 2 Type II reporting, penetration testing, and NIST-aligned policies. The currently identified broker is Pershing Advisor Solutions LLC, a member of FINRA and SIPC.
Range discloses two-factor authentication, AES-256 encryption, and TLS encryption in transit. Range Advisory is an SEC-registered investment adviser. Range’s ADV states that it does not maintain custody of client funds or securities.
Final verdict: Empower vs. Range
Empower is built around advisor-managed portfolios, retirement planning guidance, and AUM-based pricing. Its service is tied to investable assets, with a general $100,000 Personal Strategy minimum and higher tiers for wealth management and private clients.
Range is built around fixed-fee planning memberships, dashboard-based advisor communication, and planning across investments, taxes, retirement, estate, cash flow, real estate, and equity compensation.
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