Empower today announced it broke into record earnings territory by achieving $973 million in base earnings,1,2 up 30% from 2023, through business growth and sales momentum in both its workplace and wealth management businesses in 2024. Base return-on-equity1,3 has increased from approximately 12% to 16% in the past 12 months.
Empower has announced third-quarter earnings achieved as of September 30, 2024, through business growth, higher market returns and sales momentum in its Workplace Solutions and Personal Wealth units.
Empower is announcing record second-quarter earnings achieved as of June 30, 2024, through business growth and sales momentum in its Workplace Solutions and Personal Wealth units.
Empower is announcing record first-quarter earnings achieved as of March 31, 2024, through business growth and sales momentum in its Workplace Solutions and Personal Wealth units. The company now administers over $1.6 trillion in assets for 18.6 million individuals.1 In addition, Empower is announcing the completion of its integration of the retirement business it acquired from Prudential Financial in 2022.
Empower today announced that it has entered its tenth year of operations with record earnings achieved through sustained business growth and sales momentum. The firm’s full-year after-tax base earnings1,2 in 2023 were $749 million (US) or $1 billion (CAD). The company now administers more than $1.5 trillion in assets for 18.5 million individuals.
Franklin Resources, Inc. [NYSE:BEN], a global investment management organization operating as Franklin Templeton, today announced a strategic partnership with Power Corporation of Canada (“Power” and, together with its subsidiaries, the “Power Group of Companies”) [TSX:POW] and Great-West Lifeco, Inc. (“Great-West”) [TSX:GWO]. The Power Group of Companies including Great-West and IGM Financial (“IGM”) [TSX:IGM] are leaders in the global insurance, retirement, asset management and wealth management sectors and have collective assets under management and/or administration (“AUM/AUA”) of approximately $2.1 trillion1. Great-West includes Empower in the US as well as Canada Life in Canada and Irish Life in Europe. IGM encompasses subsidiaries Mackenzie Financial and IG Wealth Management and also has investments in Rockefeller Capital Management and China Asset Management Co.
