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Empower Advisory Group

SEC-registered adviser since 2000Greenwood Village, COCRD 112058

$195.4B
AUM
297,074
Clients
See fees
Fee
6,138
Advisory staff

From Form ADV filed 9 July 2026 · data retrieved 15 October 2026SEC record

Empower Advisory Group is an investment adviser headquartered in Greenwood Village, Colorado, and registered with the SEC since 2000. Its clients include other individuals, high-net-worth individuals and state or municipal government entities. High-net-worth individuals account for 20% of its regulatory assets under management.

Its services include financial planning, portfolio management for individuals and small businesses, and educational seminars. Fee arrangements include a percentage of assets under management and fixed fees. Empower Services Holdings US, LLC owns 75% or more of Empower Advisory Group.

Clients

Empower Advisory Group serves 297,074 clients, 272,823 of them other individuals. The average client has about $658,000 with the firm, and high-net-worth clients hold 20% of its $195.4 billion in assets.

Regulatory assets by client type
  • Individuals272,823 clients65%
  • High-net-worth individuals20,524 clients20%
  • Pension and profit-sharing plans1,191 clients2%
  • State or municipal government entities2,400 clients13%

What it does

Empower Advisory Group provides financial planning, portfolio management for individuals and small businesses and educational seminars. It is paid through a percentage of assets and fixed fees.

Empower Advisory Group provided financial planning to 31,000 clients last fiscal year and advises no private funds.

84.0% of assets ($164.24B across 209,380 accounts) are managed with discretion; $31.19B across 87,694 accounts are not. $38.28B sits in a wrap fee program the firm both sponsors and manages. 1% of clients are outside the U.S., and 24 clients received advice without assets under management last fiscal year.

Show the full table
Individuals (other than HNW)272,823
Regulatory AUM
$127,035,258,941
Share
65.0%
Avg. per client
$466K
High-net-worth individuals20,524
Regulatory AUM
$38,724,332,975
Share
19.8%
Avg. per client
$1.89M
Pension and profit-sharing plans1,191
Regulatory AUM
$3,948,043,933
Share
2.0%
Avg. per client
$3.31M
Charitable organizations60
Regulatory AUM
$17,414,079
Share
0.0%
Avg. per client
$290K
State or municipal government entities2,400
Regulatory AUM
$25,562,294,379
Share
13.1%
Avg. per client
$10.7M
Corporations and other businesses76
Regulatory AUM
$138,977,172
Share
0.1%
Avg. per client
$1.83M
Total297,074

What the accounts hold

Separately managed account assets by class, year end
  • Stocks11%
  • Funds86%
    • Registered funds82%
    • Pooled vehicles4%
  • Cash3%

Custodians

Empower Advisory Group’s client accounts are held mainly at Empower, with 54% of managed assets, and Pershing, with 20%. Empower Advisory Group has custody of client assets.

Managed account assets by custodian
  • EmpowerEmpower Trust Company, LLC · Greenwood Village, CO · $105.29B54%
  • State Street Bank and TrustState Street Bank and Trust Company · Boston, MA · $12.87B7%
  • PershingPershing Advisor Solutions LLC · Jersey City, NJ · $38.24B20%
  • All other custodians$39.02B20%

Ownership and leadership

Empower Services Holdings US, LLC owns 75% or more of Empower Advisory Group.

Who owns the firm
Empower Advisory Group, LLC· the adviser

  • Empower Services Holdings US, LLC

    Control person · since January 2024

    Owns 75% or more of Empower Advisory Group, LLC

Leadership

  • Richard Linton
    President and CEO of Eag, Manager
  • Stephanie Secor
    Chief Compliance Officer
  • Jane Bartosik
    Manager
  • Craig Birk
    Manager
  • Alyssa Galbaugh
    Assistant Secretary
  • David Gray
    Manager
  • William Griesser
    Manager
  • William Jeffries
    Manager and VP Operations
  • Adam Kavan
    Assistant General Counsel
  • Nathaniel Mandeville
    Manager and Treasurer
  • David McLeod
    Manager
  • Palak Patel
    Secretary
  • Frederick Schulitz
    VP, Participant Advisory Services
  • Joseph Smolen
    Manager
  • Carol Waddell
    Manager

Staff

  • 8,051 employees
  • 6,138 in advisory functions
  • 1,126 state-registered reps
  • 919 broker-dealer reps
  • 170 insurance agents
  • 941 soliciting firms

Reported holdings

Empower Advisory Group’s reported 13F holdings total $41.92B across 532 positions, and the ten largest make up 46.7% of it.

$41.92B
Reported 13F value
532
Positions
46.7%
In the 10 largest
+8.8%
Value vs. prior quarter
Ten largest positions, share of reported value
  1. Schwab Strategic TR · Intl Eqty ETF12.1%
  2. iShares TR · Russell 2000 ETF5.7%
  3. Vanguard Intl Equity Index F · FTSE Emr Mkt ETF5.1%
  4. Vanguard BD Index Fds · Short Trm Bond4.5%
  5. Vanguard Index Fds · Real Estate ETF4.0%
  6. Vanguard Scottsdale Fds · Inter Term Treas3.6%
  7. Schwab Strategic TR · US Tips ETF3.6%
  8. Schwab Strategic TR · US Sml Cap ETF3.2%
  9. iShares TR · Usd Inv Grde ETF2.7%
  10. Vanguard Scottsdale Fds · Long Term Treas2.2%

Together, the ten largest are 46.7% of reported value.

The 50 largest positions and quarterly changesQuarter ended 30 June 2026 · filed 12 August 2026

A 13F covers only exchange-traded long positions the firm holds with discretion, so this $41.92B is not its $195.43B in regulatory assets and does not represent any individual client's portfolio.

Fees

Empower Advisory Group is paid through a percentage of assets under management and fixed fees (other than subscription fees).

Empower Advisory Group’s fee rates are not included in this profile. Read its fee schedule in its SEC-filed brochure.

Offices and registrations

Besides its headquarters, Empower Advisory Group has 1,234 offices (20 private residences, listed without an address), with 6 listed addresses across 5 states.

Listed office addresses by state

Colorado · 1 listed address

  • 8515 East Orchard RD 4t2, Greenwood VillageHQ

Registration details

Legal name
Empower Advisory Group, LLC
Headquarters
8515 East Orchard RD 4t2, Greenwood Village, CO 80111
Phone
866-575-4977
Website
empower.com/eag
SEC file
801-58105
Structure
Colorado LLC
Fiscal year end
December

This directory does not report disciplinary history, for any firm or individual, in either direction. The SEC publishes the complete record, including any disciplinary events, and it is the authoritative place to check one. See this firm's record on adviserinfo.sec.gov

Common questions

How many clients does Empower Advisory Group have?

Empower Advisory Group has 297,074 clients and manages $195.4 billion for them, as of July 2026. They include 272,823 other individuals, 20,524 high-net-worth individuals and 2,400 state or municipal government entities.

Source: Form ADV Part 1A, Items 5.D and 5.F, filed 9 July 2026

What services does Empower Advisory Group offer?

Empower Advisory Group provides financial planning, portfolio management for individuals and small businesses and educational seminars. Its services also include retirement plan services.

Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file; Part 2A brochure, Item 4

Which custodians does Empower Advisory Group use?

Empower Advisory Group’s separately managed account assets are held at Empower Trust Company, LLC (Greenwood Village, CO), with $105,290,607,949, Pershing Advisor Solutions LLC (Jersey City, NJ), with $38,243,539,239 and State Street Bank and Trust Company (Boston, MA), with $12,870,271,569. Only custodians holding at least a tenth of those assets are named.

Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 9 July 2026

How many financial advisors does Empower Advisory Group have?

Empower Advisory Group has 1,126 investment adviser representatives registered with state securities authorities, out of 8,051 employees, and 6,138 perform investment advisory functions. 919 are registered representatives of a broker-dealer and 170 are licensed insurance agents.

Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file

What does Empower Advisory Group invest in?

At the end of its last fiscal year, Empower Advisory Group’s separately managed accounts held 82% registered funds (mutual funds, ETFs, BDCs), 11% exchange-traded equities, 4% pooled vehicles (private funds and similar) and 3% cash and equivalents. It advises no private funds of its own.

Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file

Who owns Empower Advisory Group?

Empower Advisory Group’s direct owner is Empower Services Holdings US, LLC (75% or more).

Source: Form ADV Part 1A, Schedules A and B, filed 9 July 2026

How does Empower Advisory Group get paid?

Empower Advisory Group is paid through a percentage of assets under management and fixed fees. Its Form ADV lists no commissions or performance-based fees among how it is paid.

Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file

Sources

  1. Form ADV Part 1A, amendment filed 9 July 2026. Items 1, 5, 9, 11 and Schedules A, B and D.
  2. Form ADV Part 2A brochure, dated 15 May 2026. Items 4, 5, 7, 12 and 15.
  3. IAPD firm record, CRD 112058.
  4. Form 13F-HR, filed 12 August 2026 for the quarter ended 30 June 2026.

Retrieved 15 October 2026. All are published by the SEC and may have been amended since. The logo is reproduced for identification from Empower Advisory Group, website.

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This profile is compiled from public regulatory filings and is provided for informational purposes only. Niva Wealth is not affiliated with Empower Advisory Group, LLC and makes no representation about the quality of its services. Figures reflect the filing dates shown and may have changed. Ownership percentages are the bands reported to the SEC, not exact figures.