Empower (formerly Personal Capital) operates two products: a completely free financial dashboard that tracks your net worth, spending, and investment fees, and a paid wealth management service starting at 0.89% for accounts above $100,000. The free tools are among the best available for getting a complete picture of your financial life. The paid wealth management is significantly more expensive than Betterment or Wealthfront and is better suited for high-net-worth investors who want dedicated advisor access alongside their portfolio management.
Empower at a Glance (2026)
| Free Dashboard | Wealth Management | |
|---|---|---|
| Cost | $0 | 0.49–0.89% |
| Minimum | $0 | $100,000 |
| Net worth tracking | Yes | Yes |
| Investment fee analyzer | Yes | Yes |
| Retirement planner | Yes | Enhanced |
| Portfolio management | No | Yes |
| Dedicated financial advisor | No | Yes |
| Tax-loss harvesting | No | Yes |
| Accounts managed | N/A | Taxable, IRA, Trust |
The Free Dashboard: Empower’s Real Value
Empower’s free dashboard aggregates all your financial accounts in one view:
Net Worth Tracker
- Links bank accounts, credit cards, mortgages, student loans, investment accounts (401k, IRA, brokerage), and real estate
- Updates automatically via read-only bank connections
- Calculates your total net worth in real time
Investment Fee Analyzer
This is Empower’s most valuable free tool:
- Analyzes your 401(k) and IRA fund expense ratios
- Projects how fees compound over time (a 1% fee difference on $200,000 over 30 years = ~$170,000 in lost returns)
- Identifies funds with above-average fees and suggests alternatives
Example: On a 30-year horizon with $200,000 invested:
- 0.05% expense ratio: portfolio grows to ~$780,000
- 1.00% expense ratio: portfolio grows to ~$610,000
- Difference: ~$170,000
Retirement Planner
Empower’s retirement planner projects:
- Whether your current savings rate reaches your retirement income target
- The probability (%) of not running out of money in retirement
- How Social Security claiming age affects your plan (62 vs 67 vs 70)
- The impact of a market downturn on your retirement readiness
This is more sophisticated than Betterment’s goal tracker and roughly comparable to Wealthfront’s Path tool — and it’s completely free.
Spending Analyzer
- Categorizes transactions across all linked accounts
- Tracks spending trends month-to-month
- Identifies unusual charges and subscription creep
Empower Wealth Management: The Paid Tier
Fees
| Portfolio Size | Annual Fee | On $200K Portfolio |
|---|---|---|
| $100K – $1M | 0.89% | $1,780 |
| $1M – $3M | 0.79% | — |
| $3M – $5M | 0.69% | — |
| $5M – $10M | 0.59% | — |
| $10M+ | 0.49% | — |
At 0.89%, Empower Wealth Management costs 3.5× more than Betterment (0.25%).
What You Get for 0.89%
- Dedicated financial advisor (personal contact, not a call center)
- Customised portfolio using individual stocks, ETFs, and bonds
- Tax-loss harvesting
- Tax-efficient asset location across accounts
- Retirement income planning and RMD strategy
- Estate planning guidance (not document preparation)
Is It Worth It?
For most investors with $100,000–$500,000: No. Betterment Premium (0.40% at $100K+) offers CFP access, tax-loss harvesting, and automated management for less than half the price. Vanguard PAS (0.30%, $50K minimum) is even cheaper with CFP access.
Empower Wealth Management makes more sense for investors with $1M+ who want a dedicated named advisor with holistic financial planning, not just portfolio management.
Empower vs Betterment vs Wealthfront
| Empower Free | Betterment | Wealthfront | |
|---|---|---|---|
| Fee | $0 | 0.25% | 0.25% |
| Portfolio management | No | Yes | Yes |
| Net worth tracking | Yes | Limited | Limited |
| Tax-loss harvesting | No | Yes | Yes |
| Retirement planner | Yes (robust) | Goals (simpler) | Path (robust) |
| Investment fee analyzer | Yes | No | No |
Best combined use: Use Empower’s free dashboard to track all accounts and analyze fees, while managing your actual investments at Betterment, Wealthfront, or M1 Finance.
Who Empower Is Best For
Free dashboard — everyone:
- Anyone who wants to see their complete financial picture in one place
- Investors in employer 401(k)s who want to check if they’re paying excessive fees
- People building toward retirement who want probability-based projections
Wealth Management — high-net-worth investors:
- $1M+ portfolios where 0.89% buys a meaningfully personalised service
- Investors who want a named dedicated advisor, not a call center
- Complex situations: multi-account tax coordination, RSU/equity planning, estate coordination
Consider alternatives for portfolio management:
- $0–$100K → Fidelity Go, M1 Finance, or Betterment
- $100K–$1M → Betterment Premium or Vanguard PAS
- $1M+ → Vanguard PAS (0.30%) or Empower (0.89% for dedicated advisor)
Related Guides
- Betterment Review 2026
- Wealthfront Review 2026
- Vanguard Personal Advisor Services Review 2026
- Best Robo-Advisors 2026
- Best Robo-Advisors & Financial Advisors 2026
The content on Wealthvieu is for informational purposes only and should not be considered financial, tax, or investment advice. Consult a qualified professional before making financial decisions. Full disclaimer · Editorial policy