Empower is a financial technology company that provides mobile banking and financial planning services for individuals. Empower allows users to link their accounts, create budgets, invest in portfolios, and receive financial advice through a mobile application.
Founded in 2016 by Warren Hogarth and Justin Ammerlaan.
Raised $20 million in Series A funding in 2019.
Empower currently has over 500,000 active users.
Mint is a free, web-based personal financial management service for the US and Canada, created by Aaron Patzer. It allows users to track bank, credit card, investment, and loan balances and transactions through a single user interface.
Personal Capital is a hybrid digital wealth management company. They offer a suite of financial tools and services designed to help users manage their money, including budgeting tools, retirement planning, and investment management services.
Robinhood is a financial services company that lets users invest in stocks, ETFs, options, and cryptocurrencies, all commission-free. Robinhood is known for its easy-to-use app and user-friendly design, which has made it a popular choice for new and inexperienced investors.
Empower offers a high-yield checking account with no monthly fees, no minimum balance requirements, and unlimited ATM fee reimbursements. Users can also earn cashback rewards on purchases they make with their debit card.
Empower AutoSave is a feature that allows users to set up recurring transfers into a savings or investment account. Users can choose from a variety of savings goals and investment portfolios to help them reach their financial goals.
Empower Invest is a commission-free investing platform that allows users to buy and sell stocks, ETFs, and cryptocurrencies. Users can also view market news and research to help them make informed investment decisions.
No, Empower is not a bank. However, they partner with banks to provide their users with a high-yield checking account that comes with ATM fee reimbursements and cashback rewards.
No, there is no monthly fee for using Empower. However, some of their premium features, such as personalized financial advice, may require a fee.
Yes, Empower allows you to invest in individual stocks, as well as ETFs and cryptocurrencies, through their commission-free investing platform.
Yes, Empower takes the security of its users' financial information very seriously. They use bank-level encryption to protect user data, and they are FDIC-insured through their partner banks.
Empower offers personalized financial advice based on your spending habits, income, and financial goals. This advice can help you save money, reduce debt, and invest wisely.