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Articles tagged "Empower"


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Louis Harvey:  You could say the DOL is at the root of the problem.

Fidelity Investments reveals 'all-time high' 401(k) plan sponsor discontent, thanks to DOL monkey wrench that creates 'race to bottom,' key expert adds

Some 47% of plan sponsors are considering a new advisor, up from 34% last year, and 48% are considering a change of recordkeepers.

September 13, 2022 at 1:51 AM

Edmund Murphy III, ex-Fidelity, is using a blank checkbook from Great-West to buy every recordkeeping orphan but it still can barely see Fidelity's taillights across the $1.7-billion void.

Empower climbs to $1.4 trillion on fifth acquisition--Prudential's record-keeping business-- but Fidelity hit the $1.4-trillion mark in 2014 and is pulling away on organic growth alone

Empower's $3.4 billion deal ups total assets to $1.4 trillion, a distant second to Fidelity's $3.2 trillion in administered assets.

July 24, 2021 at 3:09 AM

Jeff Carney:  While this is a tough decision to make, stepping aside at this time is the right move .

Jeff Carney will step down immediately from IGM Financial Inc. after early on-set Alzheimer's diagnosis; Nova Scotia Bank exec James O'Sullivan replaces him

The CEO made his mark at Fidelity, Schwab and Personal Capital in addition to turning around the Canada wealth manager and asset manager

September 15, 2020 at 4:00 PM

Rob Foregger: I have no question that they ran a great auction process.

IPO dreams die, but Personal Capital gets '$1 billion' price tag from life insurance giant's 401(k) unit that includes a de facto discount from early-bird VC dollars

Empower's sister company has built a 25% stake in Personal Capital since 2016 and test drove the company with two board members.

July 1, 2020 at 2:26 AM

Charlie Nelson was overlooked twice when he was at Great West for promotions and now he's won a huge client away from his former firm
December 20, 2018 at 8:00 PM

Bob Reynolds: Ex-Fidelity veteran is taking on his old firm for 401(k) rollover assets.

Bob Reynolds -- 11 years after leaving Fidelity -- is going after its fatter margins with a beefed-up virtual RIA

The Empower CEO will add 300 fiduciary advisors and apply a Canadian robo and Apex Clearing custody to de-clunk the underwhelming existing rollover

November 19, 2018 at 8:26 PM

David Musto: It's completely realistic to think there could be a dozen or more acquisitions in any twelve month period.

Vanguard's 401(k) recordkeeper, Ascensus, gets set to roll up a world of third party administrators to create a small plan superpower

With recent Great-West poach and David Musto running the show the Dresher, Pa.-based TPA adds 14 firms in 16 months and sets sights on dozens more, as roll-up strategy takes flight

April 27, 2018 at 5:46 PM

Voya will spend $300 million to $350 million over three to four years on behalf of the entire firm and retirement will get a portion of that money

After a six-month pause, Voya fills the Maliz Beams void with a 401(k) ace whose advancement stalled

Charlie Nelson was passed over twice at Great-West but has now landed a giant opportunity

April 28, 2015 at 7:32 PM

Bob Reynolds got his first bite at the Apple.

Empower wins Apple's $3.5-billion 401(k) account from Schwab

Bob Reynolds delivers quick response to the question of whether a branded company will swallow his new brand

November 14, 2014 at 8:08 PM

Bob Reynolds: Empower was clearly the one the first time we heard it.

The second-largest 401(k) provider drops 'Great-West' for 'Empower'

The name chosen for the second-largest retirement firm hits a mark but may face the challenge of seeming jargony

October 30, 2014 at 6:44 PM

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