Empower Gets into Digital Advice
Empower announced on June 29, 2020 that it was acquiring Personal Capital, the r̶o̶b̶o̶-̶a̶d̶v̶i̶s̶o̶r̶ digital RIA, for $1 billion ($825M in cash and $175M in earn outs). I wrote a tweet thread about it and RIA business guru Michael Kitces got involved. He dropped some…