# Empower Advisory Group

Empower Advisory Group is an Asset Manager based in Greenwood Village, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Greenwood Village, United States
- **Region:** North America
- **Address:** Boston, MA, United States
- **Founded:** 2016
- **Assets under management:** Undisclosed
- **Website:** empower.com/advisory
- **LinkedIn:** https://www.linkedin.com/company/the-empower-group-llc

## Regulatory record

- **CRD number:** 112058
- **SEC file number:** 801-58105
- **Registration status:** Registered
- **Latest Form ADV filing:** 2026-05-15T00:00:00.000Z
- **Reports private funds:** No
- **Private funds reported:** 0
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/112058

## About

EMPOWER ADVISORY GROUP, LLC is an SEC-registered investment adviser in GREENWOOD VILLAGE, CO, registered since 2000. The firm manages $195.4 billion in assets, with $164.2 billion on a discretionary basis. It has 8051 employees and 6138 investment advisers.

## Sectors

- Retirement Services
- Wealth Management
- Recordkeeping

## People

- Edmund F. Murphy III — President and CEO, Empower

## Questions

### Who runs investment decisions at Empower Advisory Group?

Empower Advisory Group operates as Empower's in-house registered investment adviser. Day-to-day investment management is executed by Empower Capital Management, its affiliated investment management arm, under the broader leadership of Edmund F. Murphy III as President and CEO of Empower. The advisory group delivers managed account portfolios constructed by internal investment teams, often using proprietary glide-path models for retirement savers and goal-based planning frameworks for retail clients.

### How does Empower Advisory Group source its clients?

The firm's primary sourcing advantage is its position within the Empower retirement ecosystem. Each year, millions of participants leave their employer-sponsored plans and must decide where to roll over their assets. Empower Advisory Group is positioned as the natural in-house destination for those rollovers. The 2020 acquisition of Personal Capital's advisory business added a secondary channel of digitally sourced, mass-affluent clients seeking comprehensive planning.

### Does Empower Advisory Group participate in fund commitments, or only direct managed accounts?

The advisory group allocates client assets into managed account portfolios that invest in mutual funds and ETFs across various asset classes. It does not function as an institutional fund investor making commitments to private equity, hedge, or venture capital funds on behalf of its retail clients. The platform is designed around liquid, publicly available securities in a fiduciary advisory wrapper.

### How is Empower Advisory Group related to its insurance parent, Great-West Lifeco?

Empower is a wholly owned subsidiary of Great-West Lifeco, a Canadian financial services holding company. Empower, in turn, operates several regulated entities, including Empower Advisory Group (the RIA), Empower Retirement (the recordkeeper), and Empower Life & Annuity Insurance Company. The advisory group functions as a distinct legal entity with its own fiduciary obligations to clients, though it benefits from the capital backing and institutional infrastructure of its parent.

### What scale of assets does Empower Advisory Group directly manage?

Empower does not publicly break out assets under management for the advisory group separately from its recordkeeping assets. The parent entity administers over $1.4 trillion for roughly 18 million retirement plan participants, but only a portion of those assets are in advisory relationships overseen by Empower Advisory Group. Direct advisory AUM figures have not been disclosed in a dedicated, verifiable filing.

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Last updated: 2026-06-03T20:00:00.000Z

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