The short answer
EMPOWER PFC represents an advisory management fee, retirement contribution, or high-yield cash account deposit processed by Empower (formerly Personal Capital), a hybrid wealth management and financial tracking platform.
Check this first
Empower Personal Wealth, LLC (formerly Personal Capital Advisors) is a major wealth management firm combining free online net worth tracking tools with dedicated human financial advisory services for affluent investors. Statement descriptors clear as EMPOWER PFC, EMPOWER WEALTH, or EMPOWER FINANCIAL.
While Empower's digital dashboard (tracking retirement readiness, investment allocation, and fee analysis) is completely free to use, clients who enroll in Empower Premier or Wealth Management services pay an annual advisory management fee between 0.49% and 0.89% on managed assets. This advisory fee is calculated monthly based on asset values and deducted directly from investment portfolio cash holdings.
If you hold an Empower Personal Cash account, transactions showing this descriptor on your external checking statement indicate authorized cash deposits or scheduled automated monthly recurring transfers you configured to earn high APY interest.
If you authorized the wealth services
- An electronic funds deposit scheduled to fund your Empower Personal Cash account.
- A monthly advisory management fee deducted for personalized wealth management services.
- A recurring automated deposit set up to fund an individual retirement account (IRA).
- A direct contribution to an employer 401(k) or 403(b) plan administered by Empower Retirement.
If you did not authorize the wealth services
- Sign into your account at empower.com Navigate to the Transactions tab to inspect all linked bank account movements, fee deductions, and managed portfolio trades.
- Check your Advisory Agreement terms Under Settings > Advisory Services, review whether you are enrolled in active fee-based wealth management or the free tracking dashboard.
- Contact your dedicated Empower financial advisor Call Empower client services at 1-855-855-8005 to review fee calculations or request changes to your management agreement.
Frequently asked questions
What is the relationship between Empower and Personal Capital?
Empower acquired Personal Capital in 2020 and officially unified the consumer wealth management platform and free financial tools under the Empower brand.
Is the Empower financial tracking dashboard completely free?
Yes. Empower's net worth dashboard, investment fee analyzer, and retirement planner are 100% free with no monthly fees unless you opt in to managed wealth services.
Independent reference — not affiliated with Empower Personal Wealth, LLC. Billing names and policies change; verify with the merchant or your bank before acting.
Verified sources
Every claim on this page is checked against official sources — open them to confirm before you call your bank.
- Empower - Wealth Management Advisory Fees and Disclosures https://www.empower.com/wealth-management/pricing
- SEC - Empower Advisory Group, LLC Form ADV Part 2A Brochure https://adviserinfo.sec.gov/firm/summary/153177
Reviewed Sep 26, 2026 · high · About UnknownCharges