Empowered Wealth Management: Strategies for Long-Term Success

Feeling lost in the world of finance? Like your money could be working harder for you? You’re not alone. Empowered wealth management puts you back in the driver’s seat. It’s about understanding your financial goals and creating a plan to achieve them. This post explores how a personalized approach to wealth management, including diversified investing and socially responsible options, can help you build a more secure future. We’ll also look at how technology can simplify the process and provide the support you need to succeed.

Key Takeaways

• Personalized financial planning for your unique needs: We tailor retirement, investment, and broader financial strategies to your specific goals and comfort level with risk.
• Transparent advice and accessible support: Our tiered fees decrease as your assets grow, and our team provides ongoing guidance and resources to help you stay informed.
• Technology and human expertise work together: We combine a user-friendly digital platform with unlimited access to financial advisors, offering a balanced approach to wealth management.

What is Empowered Wealth Management?

Empowered Wealth Management isn’t simply about growing your wealth—it’s about aligning your finances with your life goals. As a financial advisory firm, we’re dedicated to helping you achieve true financial wellness through personalized retirement planning and smart investment management. We recognize that everyone’s retirement needs are unique, which is why we tailor our strategies to your specific circumstances and aspirations. Whether you’re just beginning to consider retirement or are already enjoying it, we can help you develop a plan that supports the lifestyle you envision.

At FN Capital, we understand that genuine financial security comes from a holistic approach. We offer more than just investment advice; we empower you with the knowledge and tools to make informed decisions about your financial future. Our approach combines cutting-edge technology with personalized support, providing access to a user-friendly digital platform alongside unlimited consultations with our experienced financial advisors. Learn more about this blended approach, which ensures you have the resources and guidance you need at every stage. We integrate big data and advanced financial models to optimize your investment strategy for lasting success.

What is Empowered Wealth Management?

Empowered Wealth Management is a financial advisory firm specializing in personalized retirement planning. We understand that everyone’s retirement goals and financial picture are unique. That’s why we start with complimentary consultations to discuss your aspirations and craft a customized plan. We take a holistic approach to financial wellness, looking beyond investments to also consider areas like tax efficiency, cash flow, and budgeting. Our goal is to give you the knowledge and resources you need for long-term financial stability and success. As a modern firm, we prioritize transparency and keep our fees low, making sophisticated financial management accessible and efficient. Learn more about our services and approach on the Empowered Wealth Management website.

Our Services

We get it—financial planning can feel overwhelming. That’s why we offer a range of services designed to simplify your journey to financial wellness, no matter where you are in life.

Personalized Retirement Planning

Retirement looks different for everyone. Whether you dream of traveling the world or spending quiet time with family, we’ll help you define your vision and create a personalized roadmap to get there. We start with a complimentary consultation to discuss your goals, resources, and timeline. From there, we build a tailored strategy designed to help you achieve the retirement you’ve always envisioned.

Retirement Planning Topics Covered

We cover a wide range of retirement planning topics, ensuring you’re prepared for a financially secure future. Here’s a glimpse at some key areas we focus on:

• Social Security Strategies: Understanding the complexities of Social Security is crucial for maximizing your retirement income. We’ll develop personalized strategies to help you optimize your benefits based on your unique circumstances. For more in-depth information, explore resources available on Social Security planning.
• Long-Term Care Planning: Planning for potential long-term care needs is essential to protect your assets and ensure you receive the care you need. We’ll guide you through the process of incorporating long-term care planning into your overall retirement strategy. Empowered Wealth Management offers comprehensive guidance on this important topic.
• Annuities: Annuities can be a valuable tool for generating guaranteed income in retirement. We’ll help you understand the different types of annuities and how they can fit into your comprehensive retirement plan. Learn more about how annuities can play a role in your retirement.
• Life Insurance: Life insurance isn’t just about protecting your loved ones; it can also play a strategic role in retirement planning. We’ll help you evaluate your life insurance needs and determine how it can complement your financial goals. Empowered Wealth Management can provide further insights into the strategic use of life insurance.
• Building a Retirement Budget: A realistic retirement budget is the cornerstone of a secure retirement. We’ll work with you to develop a budget that aligns with your lifestyle and financial goals, ensuring your savings last throughout your retirement. Empowered Wealth Management offers support in creating a sustainable retirement budget.
• Managing Withdrawals in Retirement: Knowing how to manage withdrawals is key to maintaining financial stability throughout retirement. We’ll provide strategies to help you minimize taxes and maximize your income. Find helpful resources on managing retirement withdrawals.
• Protecting Retirement Savings from Healthcare Costs: Healthcare costs can significantly impact your retirement savings. We’ll help you develop strategies to protect your assets from unexpected medical expenses. Explore how Empowered Wealth Management can help you safeguard your savings.

Tailored Investment Management

Your investment portfolio shouldn’t be one-size-fits-all. We create investment plans based on your specific needs, goals, and stage of life. This includes important considerations like tax efficiency, cash flow, and budgeting. We believe in giving you a clear understanding of your investments and how they fit into your overall financial picture.

Financial Planning & Tax Optimization

We take a holistic approach to wealth management, considering not just investments, but also other crucial elements of your financial life. Our diversified approach aims to minimize risk. We also prioritize tax optimization strategies and disciplined rebalancing to help you keep more of what you earn. We also focus on minimizing costs.

Coaching & Education for Financial Wellness

We understand that emotions can sometimes complicate financial decisions. That’s why we offer unlimited access to financial advisors who can provide guidance and support. Whether you have questions about your portfolio, need help creating a budget, or simply want to discuss financial decisions, we’re here to help. We also provide educational resources and behavioral coaching to empower you with the knowledge and confidence to make informed choices about your money.

Costs & Requirements

Understanding costs and requirements upfront is key to making informed financial decisions. At Empower Wealth Management, we believe in transparent pricing and clear communication.

Management Fees

Our annual management fee structure is tiered, ranging from 0.89% to 0.49% of your total assets under management. This means your annual fee decreases as your investments grow. For a detailed breakdown, check out our fee schedule. We don’t charge any hidden fees, trailing fees, or trade commissions.

Empower’s Tiered Service Levels and Fees

Empower offers different service levels based on your investment assets, each designed to provide tailored support as your financial picture evolves. This tiered approach allows them to offer more specialized advice and resources as your portfolio grows. Think of it as choosing the right level of support based on your current needs and future goals.

• Investment Services: For those with $100,000 to $250,000 in investable assets, Empower provides unlimited advice, a managed ETF portfolio, and access to their digital tools. This tier is a great starting point for investors seeking professional guidance and a simplified approach to portfolio management.
• Wealth Management: Clients with between $250,000 and $1,000,000 in assets unlock access to dedicated advisors and specialists in areas like real estate and stock options. You’ll also receive a customized portfolio designed to align with your specific financial goals, and a focus on tax optimization strategies. Empower’s website details their wealth management offerings.
• Private Client: For high-net-worth individuals with over $1,000,000 in investable assets, Empower’s Private Client service offers comprehensive one-on-one planning, priority access to specialists, in-depth support, and private equity investment options. This level provides the highest degree of personalized attention and access to exclusive investment opportunities.

Empower’s management fees range from 0.49% to 0.89% of your assets under management, varying based on the tier and specific services you select. This Investopedia review offers more detail on Empower’s fee structure.

Industry Average Advisor Fees

It’s helpful to understand how Empower’s fees compare to the broader financial advisory landscape. Typically, working with a financial advisor costs between 0.59% and 1.18% of your investments annually, with 1% often cited as a common benchmark. This SmartAsset article explores the value proposition of financial advisors. This percentage-based fee structure means the cost scales with your portfolio size. Robo-advisors, which offer automated portfolio management with limited human interaction, generally charge lower fees, often in the range of 0.25% to 0.50% annually.

When evaluating any financial advisor, consider the value you receive in exchange for the fees. Factors like personalized advice, access to specialized expertise, and the overall quality of service should all play a role in your decision.

Understanding Our Pricing

Transparency is at the heart of our pricing. We want you to understand the costs involved and feel confident in your investment choices. While our fees might be higher than some robo-advisors, they’re competitive with those of traditional financial advisors. This approach builds trust and keeps you informed.

Investment Minimums

Empower Wealth Management is designed for those with at least $100,000 in investable assets. This minimum investment allows us to deliver the personalized, high-touch service our clients value. Our focus is on building lasting relationships and helping you reach your financial goals.

Empower Personal Cash Account

Alongside its wealth management services, Empower also offers a high-yield cash management account designed to help you earn more on your savings. The Empower Personal Cash Account currently offers a competitive 4.20% annual percentage yield (APY), allowing you to maximize your returns without being restricted by a minimum balance requirement. This accessibility is a key feature highlighted in Investopedia’s review of Empower, emphasizing that the account “doesn’t require a minimum balance,” making it suitable for a wide range of savers. This flexibility is further enhanced by the absence of monthly fees and transaction limits, creating a seamless and user-friendly banking experience. NerdWallet echoes this benefit in their review, stating that “Empower Personal Cash helps customers manage their money with no fees or minimum balance,” which reinforces Empower’s commitment to transparent and accessible financial management.

The Empowered Wealth Management Difference

We believe in empowering you to take control of your financial future. That’s why we’ve designed our wealth management services with a focus on personalized strategies, transparent advice, and ongoing support. Here’s how we aim to give you an edge:

Smart Weighting: Building Your Portfolio

We use a “smart weighting” approach to build your portfolio, going beyond traditional market-cap weighting. This strategy aims for higher risk-adjusted returns by carefully considering factors beyond just company size. Your portfolio is also highly customizable, allowing us to tailor it to your specific goals and risk tolerance. This personalized approach, as highlighted in Empower’s Investopedia review, helps create an investment strategy that truly aligns with your needs.

How Smart Weighting Works

Smart weighting offers a different approach to constructing investment portfolios than traditional market-cap weighting. Market-cap weighting, as explained by Vanguard, prioritizes companies based solely on their size—the bigger the company, the larger its position in the index. This means a handful of giant corporations can heavily influence the index’s performance, potentially exposing investors to concentrated risk.

Smart weighting, on the other hand, “breaks the link with price,” according to Schwab, and considers other factors like a company’s financial health, growth potential, or even social impact. Think of it like building a basketball team. A market-cap approach would simply pick the tallest players. Smart weighting, however, considers other vital skills like passing, defense, and shooting accuracy to create a more well-rounded and potentially higher-performing team. This allows for a more diversified approach that isn’t solely dependent on market size.

One example of smart weighting is equal weighting, where every company in the index receives the same allocation, regardless of size. While this can mitigate the risks associated with over-concentration in a few large companies, it’s important to understand the potential trade-offs. Morningstar India notes that market-cap weighting can be beneficial in certain market conditions, particularly when a specific sector is performing exceptionally well. As TheStreet points out, equal weighting can sometimes lead to higher risk for a similar return compared to market-cap weighting, especially over longer periods. Therefore, understanding the nuances of each approach is crucial for making informed investment decisions.

Ultimately, the “right” way to weight stocks depends on your individual goals and risk tolerance, as discussed by Morningstar. While market-cap weighting reflects current market sentiment, smart weighting allows for a more nuanced and strategic approach to portfolio construction, potentially leading to a more balanced and resilient investment strategy.

Direct Advisor Access

At Empowered Wealth Management, you’re never alone on your financial journey. We offer unlimited access to our team of experienced financial advisors who can provide guidance on everything from portfolio adjustments to complex financial planning questions. This personalized support, combined with our automated investing platform, creates a hybrid approach that balances technology with human expertise, as discussed in this Empower review.

Tax-Efficient Investing Strategies

We understand that maximizing your after-tax returns is crucial. We integrate tax-efficient strategies into every aspect of our wealth management services. We use asset location, tax-loss harvesting, and a focus on tax-efficient securities to help you keep more of what you earn. Empower’s asset location strategy can add an estimated 0.3% to your annual returns.

Building Holistic Wealth

We take a holistic view of your financial well-being, considering not just your investments, but also your broader financial goals. From retirement planning to tax optimization, we offer a comprehensive suite of services designed to support you at every stage. Empower’s wealth management services emphasize personalized strategies and a technology-driven approach, all working together to help you build a secure financial future.

Your Journey with Us

At Empowered Wealth Management, we believe in a personalized approach. Your financial journey is unique, and your wealth management strategy should reflect that. Here’s what you can expect when you partner with us:

How to Get Started with Empower

Getting started with Empowered Wealth Management is straightforward. We’ve designed the process to ensure your financial strategy aligns with your unique goals and needs. Here’s how it works:

1. Answer intake questions: First, you’ll answer some intake questions. This helps us understand your financial situation, goals, and risk tolerance. This personalized approach is crucial for creating a tailored financial plan that reflects your aspirations. As noted on the Empowered Wealth Management website, we start with complimentary consultations to discuss your goals and build a customized plan.
2. Review current investments: Next, we’ll review your current investments. This assessment helps us identify opportunities for improvement and ensures your portfolio aligns with your long-term objectives. Our holistic approach considers not just investments but also tax efficiency and cash flow.
3. Open accounts at Pershing: Once your strategy is defined, we’ll help you open accounts at Pershing. They’re a trusted custodian that provides a secure platform for managing your investments. This is an essential step for putting your personalized investment strategy into action.
4. Implement the new strategy: Finally, we’ll implement your new investment strategy. This typically includes a diversified portfolio tailored to your specific needs. Our “smart weighting” approach aims for higher risk-adjusted returns by considering factors beyond just company size, as explained in this Empower review on Investopedia. This ensures your investments are optimized for your financial goals.

Following these steps sets you on a path toward lasting financial success and aligns your investments with your values.

Your First Consultation

We start with a complimentary consultation to understand your financial goals. Whether you’re planning for retirement, saving for a down payment, or building long-term wealth, we’ll discuss your current situation, aspirations, and comfort level with risk. This initial conversation helps us create a tailored plan designed to achieve your specific objectives. We believe that open communication and a clear understanding of your needs are essential for a successful partnership.

Assessing Risk & Building Your Portfolio

Once we understand your goals, we’ll assess your risk tolerance and create a diversified investment portfolio. We consider factors like your time horizon, financial obligations, and comfort level with market fluctuations. Our team uses a disciplined approach to portfolio construction, emphasizing tax efficiency and minimizing fees. We believe in transparency and will clearly explain our investment strategy so you understand how we’re working to achieve your goals.

Ongoing Support & Resources

We provide ongoing support and guidance as you work toward your financial goals. Our team is available to answer your questions, provide portfolio updates, and adjust your plan as needed. We also offer a suite of digital tools to help you stay informed and engaged. You can access your account information, track your progress, and use our planning resources through our secure online platform. We believe that technology can empower you to take control of your financial future, and we’re committed to providing the resources you need to succeed.

Free Tools and Financial Planning Resources

Empower (formerly Personal Capital) offers several free financial planning tools, including budgeting, investment analysis, and retirement planning resources. These tools can give you valuable insights into your financial health and pinpoint areas for improvement. To access these free tools, you’ll need to schedule a consultation with an Empower advisor. This conversation helps them understand your financial situation and tailor recommendations to your needs. While premium services like investment management have higher minimums (starting at $100,000), the initial consultation and access to the free tools are a great first step in exploring your options and building a relationship with a potential advisor.

Investing for Long-Term Success

We believe that long-term financial wellness depends on a strategic blend of core investment principles. Here’s how we approach building lasting wealth for our clients:

Diversification Strategies

We know that putting all your eggs in one basket isn’t a sound strategy. At Empowered Wealth Management, we use a diversified approach, spreading investments across a range of asset classes. This limits exposure to any single sector, reducing your overall risk. Diversification is designed to enhance the potential for long-term growth while safeguarding your portfolio against market fluctuations. Learn more about our investment philosophy.

Portfolio Rebalancing

Markets shift, and so should your portfolio. Regular portfolio rebalancing is a cornerstone of our investment strategy. By maintaining a disciplined approach to rebalancing, we help you minimize risk and maximize returns over time. This ensures that your asset allocation remains aligned with your financial goals, even as market conditions change.

Socially Responsible Investment Options

We understand that your investments are a reflection of your values. Empowered Wealth Management recognizes the growing demand for socially responsible investing (SRI) and offers options that align with your principles. This approach not only targets financial returns but also considers the social and environmental impact of your investment choices. If you’re interested in learning more about how we integrate SRI into our portfolios, connect with one of our advisors.

Technology & Wealth Management

We believe managing your finances should be effortless and transparent. That’s why we’ve invested in robust technology to streamline your experience and give you the insights you need to make informed decisions.

Our Digital Platform

We offer intuitive digital platforms designed with you in mind. Easily access your accounts, track your portfolio’s performance, and review important documents—all in one secure location. This convenient online access empowers you to stay connected to your financial picture anytime, anywhere.

Advanced Analytics for Your Portfolio

Our platform doesn’t just display information; it analyzes it. We use advanced analytics to give you a deeper understanding of your investments. This includes robust tools that evaluate your portfolio’s performance, identify potential opportunities, and offer personalized recommendations. We even use a unique “smart weighting” approach to portfolio construction, aiming for higher risk-adjusted returns than traditional market-cap weighting. This data-driven approach, combined with expert advisor support, helps us build a financial strategy tailored to your specific goals. You can learn more about our approach and technology through resources like Investopedia and Bankrate.

Why Choose Empowered Wealth Management?

What Makes Us Different?

Empower distinguishes itself by offering personalized service and smart technology. We create a financial plan tailored to your specific needs, goals, and life stage. Whether you want to improve your tax efficiency, manage cash flow, or build a budget, our strategies adapt to you. We take a diversified approach to reduce risk, limiting exposure to any single sector. This strategy, combined with tax optimization, disciplined rebalancing, and low fees, helps protect and grow your wealth. Empower uses a technology-driven approach that prioritizes transparency and keeps costs low. Our hybrid model combines automated investing with access to experienced human financial advisors. This structure allows us to offer sophisticated services while remaining accessible.

Key Features of Empower

• Personalized Strategy™: Empower’s core offering revolves around personalized financial plans and investment strategies. They tailor their approach to your specific goals, whether you’re saving for a down payment, planning for retirement, or building long-term wealth. This personalized approach considers your risk tolerance, time horizon, and current life stage to create a roadmap designed for you.
• Personal Strategy+: If you have employer-sponsored retirement accounts like a 401(k) or 403(b), Empower extends its personalized management through Personal Strategy+. This feature helps you optimize your workplace retirement savings, ensuring these accounts align with your broader financial goals. You can explore Empower’s wealth management services for more details.
• Socially Responsible Investing Options: For those who want their investments to reflect their values, Empower offers socially responsible investing options. This allows you to invest in companies prioritizing environmental sustainability, social justice, and ethical corporate governance while still pursuing your financial objectives.
• Technology Integration: Empower uses technology to make wealth management more accessible and efficient. Their digital platform provides secure online access to your accounts, performance tracking, and planning resources, putting you in control of your financial picture.
• Fiduciary Advisors: Empower’s advisors are fiduciaries, meaning they’re legally obligated to act in your best interest. This commitment builds trust and ensures the advice you receive aligns with your financial goals. Learn more about their fiduciary duty.
• Transparency: Empower believes in clear communication. They provide transparent explanations of their fees, investment strategies, and account access, empowering you to make informed financial decisions.

Client Testimonials & Recognition

Our commitment to client satisfaction is reflected in the feedback we receive. Clients consistently praise Empower for its user-friendly experience, responsive customer service, and portfolio customization options. Reviews often mention our sophisticated investment strategies, including tax-loss harvesting and personalized portfolio construction. Experts recognize Empower’s combined approach to technology and human support as a key strength, allowing us to deliver comprehensive wealth management services.

Alternative Wealth Management Options

While we believe Empowered Wealth Management offers a unique blend of personalized service and cutting-edge technology, we understand you may want to explore other options. Here are a few alternatives in the financial wellness space:

Exploring alternatives to Empowered Wealth Management is important for ensuring you find the best fit for your financial needs. Each platform offers unique features, pricing structures, and investment philosophies that may align differently with your personal goals. By comparing various options, you can make a more informed decision about which service best supports your journey to financial wellness. For example, if socially responsible investing is a priority, you’ll want to find a platform that excels in that area. If you’re a hands-on investor, you might prioritize platforms with robust self-directed trading tools.

Comparing Empower to Other Platforms

• SoFi:

  Pros: SoFi offers a wide range of financial products beyond investing, including banking, loans, and insurance, making it a potential one-stop shop for your financial needs. They also provide career coaching and financial planning resources. SoFi also has no minimum balance requirements to open an account.

  Cons: SoFi’s investment options may be less extensive than Empower’s, particularly for those interested in more complex investment strategies. Their financial planning services, while helpful, may not be as personalized as those offered by a dedicated financial advisor.

• Robinhood:

  Pros: Robinhood is known for its commission-free trading and user-friendly mobile app, making it appealing to beginner investors. They offer access to fractional shares, allowing you to invest in companies with high share prices even with a smaller budget.

  Cons: Robinhood’s platform primarily focuses on self-directed trading and offers limited personalized financial advice. Their customer support has faced criticism in the past, which is a factor to consider if you value readily available assistance.

• Merrill Edge:

  Pros: Merrill Edge provides a robust platform with a wide range of investment options and research tools. As part of Bank of America, they offer seamless integration with banking services. They also provide access to human financial advisors for personalized guidance.

  Cons: Merrill Edge’s fees can be higher than those of some online brokerage platforms, particularly for smaller account balances. Their platform, while comprehensive, can be less intuitive for beginners compared to some mobile-first platforms.

• Vanguard:

  Pros: Vanguard is renowned for its low-cost index funds and ETFs, making it a cost-effective choice for long-term investors. They offer a wide range of investment options, including target-date funds, which simplify retirement planning.

  Cons: Vanguard’s platform primarily focuses on passive investing and may not be suitable for those seeking more active trading strategies. Their financial planning services, while available, may not be as personalized as those offered by dedicated financial advisors.

Vanguard Personal Advisor Services

Vanguard Personal Advisor Services is a solid choice for those with a significant nest egg, especially if you’re approaching retirement. They offer a hybrid approach, combining robo-advisor technology with access to human advisors. Vanguard is known for its low fees, typically around 0.30% of your assets under management, and a low average expense ratio for their investment options.

Fidelity Wealth Management

Fidelity Wealth Management (explore their services) provides a comprehensive suite of services, from personalized planning to investment management. They offer extensive research resources and are known for robust customer service and a wide range of investment choices. If you’re looking for a full-service wealth management experience, Fidelity is worth considering.

Charles Schwab Intelligent Portfolios

For those who prefer a fully automated approach, Charles Schwab Intelligent Portfolios (review their platform) is a robo-advisor that requires no advisory fees. With a $5,000 minimum investment, you’ll receive a diversified portfolio tailored to your risk tolerance and goals. Schwab’s platform is user-friendly and integrates seamlessly with their other services.

Betterment Premium

Betterment Premium (check out their features) is another robo-advisor option, but with a focus on personalized advice. For a 0.40% fee on assets under management, you gain access to certified financial planners and tailored investment strategies. Betterment stands out with its user-friendly interface and automated tax-loss harvesting, a feature that can boost your after-tax returns.

Personal Capital

If you’re looking for a holistic view of your financial health, Personal Capital (see their offerings) combines budgeting tools with investment management. While their budgeting and tracking tools are free, wealth management services start at 0.89% of assets under management. Personal Capital is a good fit if you want to monitor your net worth, plan for retirement, and receive personalized investment guidance all in one place.

What’s Next?

Ready to take control of your financial future and experience the Empowered Wealth Management difference? Here’s how to get started:

1. Explore our services: Visit our website to learn more about our approach to wealth management, investment philosophy, and team. We offer personalized strategies for retirement planning, investment management, and financial planning.
2. Clarify your goals: Before you reach out, take some time to define your financial aspirations. What are you hoping to achieve? Whether it’s early retirement, buying a home, or building long-term wealth, a clear vision will help us create a personalized plan.
3. Schedule a consultation: A free consultation is the best way to connect with one of our advisors. We’ll discuss your financial situation, risk tolerance, and goals to determine how we can help you succeed. You can book a consultation directly through our website.
4. Dive into our resources: We offer a variety of free online resources, including articles, guides, and interactive tools. These resources can help you make informed financial decisions and enhance your overall financial literacy.
5. Connect with us: Stay informed about market trends and company news by following us on social media. It’s a great way to engage with our community and learn more about Empowered Wealth Management.

Related Articles

• Retirement Planning: 7 Powerful AI Innovations Transforming Retirement Planning – FN Capital
• How to Retire Early With Smart Investing: A Practical Guide – FN Capital
• Secure Wealth Growth: Practical Steps for Building Wealth – FN Capital
• Wealth Management Webinars: A Complete Guide – FN Capital

Frequently Asked Questions

What is the difference between financial planning and investment management?

Financial planning takes a broader look at your overall financial health, encompassing budgeting, retirement planning, tax strategies, and more. Investment management, while a key part of financial planning, focuses specifically on your investment portfolio and how it aligns with your broader financial goals. We offer both services in an integrated approach.

What if I have questions after my initial consultation?

We offer unlimited access to our team of financial advisors. You can reach out to them anytime with questions, whether they’re about your portfolio, financial planning, or anything else related to your financial well-being.

How does Empowered Wealth Management’s “smart weighting” approach differ from traditional methods?

Traditional portfolio construction often relies on market-cap weighting, where investments are allocated based on a company’s size. Our smart weighting approach considers additional factors beyond market capitalization, aiming to create a more diversified and potentially higher-performing portfolio tailored to your specific goals.

Is Empowered Wealth Management suitable for socially responsible investors?

Yes, we offer socially responsible investing (SRI) options. We understand that your values are important, and we can help you align your investments with your principles. Just let your advisor know you’re interested in SRI options.

What is the minimum investment required to work with Empowered Wealth Management?

The minimum investment to engage our services is currently $100,000. This allows us to provide the personalized attention and sophisticated strategies our clients value.

Account Protection and Security

At Empowered Wealth Management, we understand that the security of your assets is paramount. We want you to feel confident knowing your investments are protected. Let’s talk about two key protections relevant to your accounts: the Securities Investor Protection Corporation (SIPC) and the Federal Deposit Insurance Corporation (FDIC).

SIPC Coverage

Empowered Wealth Management is a member of SIPC, which provides important protection for brokerage accounts. SIPC insurance covers up to $500,000 if assets and cash go missing due to broker insolvency. This means that in the unlikely event Empowered Wealth Management fails, your investments are protected up to this amount. It’s important to remember that SIPC insurance doesn’t cover investment losses from market fluctuations or poor investment advice; it’s specifically designed to protect against the loss of assets held by your brokerage firm. NerdWallet offers a helpful overview of SIPC insurance and what it covers.

FDIC Coverage

For cash held in bank deposit accounts associated with Empowered Wealth Management, you might have coverage through the FDIC. The FDIC insures deposits in member banks up to $250,000 per depositor, per insured bank, for each account ownership category. The amount of FDIC insurance you’re eligible for depends on how your funds are held, which can include single accounts, joint accounts, and certain retirement accounts. Ally Bank provides a clear explanation of FDIC coverage and how it differs from SIPC.

Understanding the Difference

While both SIPC and FDIC offer crucial safeguards, they protect different types of accounts. The FDIC is an independent federal agency created in 1933 to protect deposit accounts at banks and other financial institutions. SIPC, however, is a non-profit membership corporation that protects brokerage accounts. SmartAsset offers a good comparison of SIPC vs. FDIC, outlining the key differences. A married couple with a joint brokerage account could have up to $1 million in SIPC protection, while their individual accounts would each have $500,000 in coverage, as explained by Schwab. Understanding these distinctions helps you make informed decisions about how you hold your assets.