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Is Empower Retirement a good investment account?

As you might guess from the name, Empower Retirement's offerings are largely focused on saving for retirement in individual retirement accounts (IRAs). However, the company also offers a few investment account options. Empower Premier IRA: Available as a traditional or Roth IRA, this account is designed for fast setup and affordable investing.

How much does Empower Retirement cost?

Empower Retirement advertises that stock and ETF trades are commission-free. If you read the fine print, however, you'll discover that you get 1,000 free trades. After that, you'll pay $6.95 for every trade. Fees for the Empower Brokerage IRA and Empower Investment Accounts can add up quickly if you're not paying attention.

Does empower offer a 401(k) plan?

Portfolios include both ETFs and individual stocks for accounts that qualify ($200K minimum). Clients must move money to Empower's custodian, Pershing LLC. Empower also provides investment reviews and recommendations for 401 (k) and IRA accounts and can also manage active 401 (k) plans.

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