Empower

What is Empower?

Empower is a free budgeting and net-worth tracking application. According to the company’s documentation, the app was formerly known as Personal Capital. It provides users with a dashboard to aggregate financial accounts, track spending, and monitor net worth over time. The service also includes an optional paid wealth management offering for users who want professional portfolio management. The documentation states that advisory fees apply only to assets that are managed through that paid service. The core budgeting and tracking features remain free regardless of whether the user enrolls in wealth management.

Who is Empower for?

The app is designed for individuals who want a single view of their finances without switching between bank and investment portals. The free tier targets users who primarily need expense tracking, net-worth monitoring, and basic financial planning tools. The optional wealth management service is aimed at those with investable assets who seek discretionary portfolio management. The documentation presents the tool as suitable for both casual budgeters and more financially engaged users, though the wealth management component is not required for the core features. Users who do not want to pay for advice can use the free version indefinitely.

How much does Empower cost?

The pricing page lists the base service as free, with a starting price of $0 per month. This covers the budgeting, account aggregation, and net-worth tracking features. The wealth management option carries separate fees, but the specific fee structure is not verified in the provided data. The documentation notes that advisory fees apply only to assets under management through the paid service. No dollar figures or percentage rates for the wealth management fees are available from the data supplied. Users who choose not to engage the advisory service will incur no cost from the app itself.