Pros
- Free to use for core budgeting and account linking
- Combines budgeting, net worth, and portfolio tracking
- Offers planning tools (retirement, cash flow, asset allocation)
- No ads or data monetization for basic features
- Strong security and read-only connections
Cons
- Advanced advisory and wealth management tools are paid
- Some features require minimum assets to unlock
- Bank syncing or broker links sometimes break
- App login or stability issues have been reported
- Not focused as much on micro budgeting or envelope systems
About Empower
Empower offers a personal finance dashboard that links your bank, credit, investment, and debt accounts. It presents your net worth, spending habits, and cash flow in one view. The app is free for general use, but extra advisory services cost extra. Empower blends budgeting, investment tracking, and wealth tools under a single interface.
It is built for users who want more than basic budgeting: you can run retirement scenarios, review portfolio allocation, and track long-term goals. Because it doesn’t carry big subscription costs for basic use, it appeals to many users who want serious finance tools without paying monthly.
Empower also supports strong security, multi-factor login, and “read-only” access to your accounts. They act as a financial hub rather than a bank or transactional tool.
What Is Empower ?
Empower is a financial dashboard app that lets you see your entire money picture in one place. Once you connect your bank accounts, credit cards, loans, and investment accounts, the app shows your balances, transactions, net worth, and cash flow. It also provides charts and insights about your spending over time.
Beyond tracking, Empower gives you planning tools. You can run retirement models, simulate market changes, examine your investment allocation, and project your future net worth. For users with larger asset levels, Empower offers wealth advisory services and financial planning for a fee.
But the core use—that is, linking accounts, monitoring spending, and seeing net worth—is free for general users. That makes Empower more than a simple budget tracker—it’s a long-view finance tool.
How It Works?
Here’s how you use Empower day to day.
First, you download the app or use the web dashboard and register an account. You give secure, read-only permission to link your bank, credit card, loan, and investment accounts. Empower imports your transaction history and balances. Then it categorizes your spending and gives you a view of where your money goes each month.
You can explore features like “Cash Flow” to see upcoming incoming and outgoing money, or “Net Worth” to see your assets minus liabilities. The app offers planning tools: retirement forecasts, comparison of investment performance, and scenario analysis (e.g. how much you’d have if markets drop).
If you are eligible, you may upgrade to advisory services. That gives you access to human advisors, portfolio management, and deeper planning. But for most people, the free tier covers tracking and insights.
Empower updates in real time (or near real time) as your accounts change. You adjust categories, correct miscategorized entries, and set custom labels. The app learns your patterns and gets more accurate over time.
Empower Fees
Empower’s basic dashboard is free—there is no subscription cost for core tracking and planning. That is one major appeal.
However, its wealth management or advisory services cost money. Users who have more than a certain amount of assets (often $100,000 or more) can qualify for paid advisory accounts. Those accounts carry fees. For example, they may charge 0.89% per year in asset management fees for those wealth services.
Because the basic features are free, many users never pay anything unless they opt into the premium advisory service. That gives Empower a freemium model: core use free, advanced services for pay.
Customer Support
Support matters when your finances are involved. Empower offers support via the app, help center, email, and phone support for advisory users.
Standard users can consult FAQs, guides, and in-app help for account links, categorization, or dashboard issues. Many users mention responsive support during onboarding or when connecting accounts.
For users of the paid advisory service, support is elevated: you get direct access to advisors, planning calls, and portfolio management help.
Still, some user reviews report occasional login issues, slow syncs, or broken connections with financial institutions. Those are common in aggregate finance apps. Empower moves quickly to update and fix those, but occasional lag is reported.
Trustworthiness
When an app sees all your financial data, trust is vital. Empower builds trust by using read-only connections—meaning it cannot move your money. It uses encryption, multi-factor authentication, and standard security protocols.
The free model means it doesn’t rely heavily on ads or selling data, which reduces conflict of interest. Its wealth/advisory services are transparent: if you pay, you see what you get.
Empower has solid reviews in app stores and finance media. Many users praise its security, design, and integration. Yet some criticize instability or login bugs. That doesn’t necessarily undermine trust, but it reminds users to monitor their accounts carefully.
Overall, Empower ranks high in trust among free finance dashboards. With prudent usage (strong passwords, two-factor authentication), it’s a safe and robust option.
Conclusion
Empower is an excellent choice for users who want a powerful, free finance dashboard that goes beyond mere budgeting. It lets you link all your financial accounts, see your net worth, track spending, and run planning models without cost. If you don’t need premium advisory services, you may never pay anything.
However, if you want direct portfolio management, human advice, or advanced wealth tools, you’ll step into their paid tier—and that can get expensive. Also, some syncing and login bugs are reported, so occasional friction may occur.
In summary: for the majority of users wanting a strong free finance hub with insight and planning, Empower delivers great value. If you’re seeking elite advisory services or deep investing support, then consider complementary tools or upgrading. But as a budgeting + wealth dashboard, Empower stands solid among free and freemium finance apps.