Empower Retirement voted No. 1 by plan advisors in six key categories
Nation’s second largest retirement service provider cited again as superlative choice for value, fees, client service
Empower’s reputation among plan advisors earns highest marks
GREENWOOD VILLAGE, Colo., Nov. 1, 2018 — Retirement plan advisors across the country have once again named Empower Retirement No. 1 when it comes to “Value for Price” – a top consideration for them when choosing a recordkeeper, according to PLANADVISER Magazine.
For four years running, Empower Retirement was named the top provider by the advisors for “Fee Structure for Advisers.”
In a survey of 352 advisors conducted by PLANADVISER, Empower was named No.1 in six categories –including two new categories: “Fee Structure for Plan Sponsors and “Plan Sponsor Client Services.”
In existing categories, Empower was also top ranked in the categories of “Best Overall Service, micro plans” (under $5 million), and “Best Overall Service, small plans” ($5 - $50 million).
In addition, Empower is No. 1 in overall favorability among survey participants.
Empower Retirement was created in 2014 and is the nation’s second largest retirement services provider1 serving all segments of the employer-sponsored retirement plan market including the advisor-sold market where the firm works closely with some 30,000 advisors across the country.
“For four years we’ve executed against our goal of creating a better retirement savings experience for American workers,” said Empower President Edmund F. Murphy III. “As we grow, we have continued to focus our advisor-centric business model on helping these important stakeholders serve our clients together.”
Advisors who work closely with Empower have noted the importance of the collaborative model the firm is working to advance in the marketplace.
“It is critically important to work with service providers that have a shared mission around the employers and employees who we serve together,” said Troy Hammond, President and CEO of Santa Barbara, California-based Pensionmark Financial Group. “Working together as a team, not as competitors, mitigating overlapping services and costs, and identifying ways to create synergistic successes have been trademarks of Empower’s culture.”
Kaci Skidgel, president of the corporate retirement practice at Dallas-based Summit Financial Group, Inc. said, “Empower is one of the leaders in the industry with respect to investing in technology, offerings and quality service for both advisors and employers. As an advisory firm, we value the partnership of service providers like Empower who continually invest in technology and provide innovative solutions for the participants we serve.”2
The survey results are part of PLANADVISER’s annual “Retirement Plan Adviser Survey” which examines the factors that advisors consider when selecting providers and spotlights the companies they prefer, according to the magazine’s editors. For more information on the survey see the PLANADVISER web site.
Headquartered in metro Denver, Empower Retirement administers approximately $570 billion in assets for 8.7 million retirement plan participants, as of Sept. 30, 2018. It is the nation’s second-largest retirement plan record keeper by total participants (Pensions & Investments, April 2018). Empower serves all segments of the employer-sponsored retirement plan market: government 457 plans, small, midsize, and large corporate 401(k) clients, non-profit 403(b) entities, private-label recordkeeping clients and Individual Retirement Account customers. For more information, please visit www.Empower-retirement.com.
Stephen Gawlik — 303-737-0899 (office), 617-417-4408 (cell)
Monica Mendoza — 303.737.2626 (office), 719-373-2460 (cell)
To learn more about how we’re empowering plan sponsors and their participants to be more engaged in their retirement plans than ever before, call us at 800-719-9914.
1 Information refers to all retirement business of Great-West Life & Annuity Insurance Company and its subsidiaries and affiliates, including Great-West Life & Annuity Insurance Company of New York, marketed under the Empower Retirement brand. Ranking based on total participant accounts as of April 2018. Source: Pensions & Investments, April 2018.
2 The testimonial(s) reproduced in this material were obtained in response to questions posed by Empower Retirement concerning the value of our products or services. The testimonial may not be representative of the experience of other individuals and is not a guarantee of future performance or success.
Great-West Financial®, Empower Retirement and Great-West InvestmentsTM are the marketing names of Great-West Life & Annuity Insurance Company, Corporate Headquarters: Greenwood Village, CO; Great-West Life & Annuity Insurance Company of New York, Home Office: New York, NY, and their subsidiaries and affiliates, including registered investment advisers Advised Assets Group, LLC and Great-West Capital Management, LLC. AM644968 1018