Empower Capital Management, Llc
SEC-registered
Mutual Fund / Asset Manager · Large ($10B–$100B)
CRD 107272
· SEC file 801-52309
· Greenwood Village, CO
· www.empower.com
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ADV data as of Mar 31, 2026
- Regulatory AUM
- $78.0B
- Discretionary
- $73.0B
- Clients
- 162
- Avg AUM / client
- $481M
- Accounts
- 165
- Employees
- 319
AUM over time
$16.2B
$78.0B
Dec 2011
Dec 2025
Annual snapshots from Form ADV filings · as of Mar 31, 2026
Asset allocation (SMA assets by investment type)
as of Mar 31, 2026
Investment-grade corporate bonds
$53.0B
68%
US government & agency bonds
$21.8B
28%
Exchange-traded equities
$780M
1%
State & local bonds
$780M
1%
Non-investment-grade bonds
$780M
1%
Cash & equivalents
$780M
1%
Share of SMA assets by investment vehicle type, as filed in Form ADV Item 5.K. Dollar figures are percentages applied to total regulatory AUM.
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Banking or thrift institutions | Fewer than 5 clients | $58.2M | 0.07% |
| Investment companies | 1 | $44.5B | 57.1% |
| Pooled investment vehicles (non-investment companies) | 8 | $5.5B | 7.07% |
| Pension and profit sharing plans | 65 | $5.6B | 7.13% |
| State or municipal government entities | 15 | $3.7B | 4.68% |
| Insurance companies | 26 | $17.3B | 22.2% |
| Corporations and other businesses | 47 | $1.4B | 1.74% |
Private funds (9)
Reported in Form ADV Section 7.B.(1), filing of Aug 2024 · $2.5B combined gross assets
| Fund | Type | Domicile | Gross assets | Owners |
|---|---|---|---|---|
| Coli Vul Managed Fund Vi (Pimco) | Other Private Fund | Colorado | $615M | 23 |
| Coli Vul 5 Series Account (Us Bancorp) | Other Private Fund | Colorado | $524M | 1 |
| Coli Vul 11 Series Account (Bb&T) | Other Private Fund | Colorado | $419M | 1 |
| Coli Vul 8 Series Account (American Express Ii) | Other Private Fund | Colorado | $250M | 1 |
| Coli Vul Managed Fund Iv (Ecm) | Other Private Fund | Colorado | $214M | 18 |
| Coli Vul 3 Series Account (Huntington) | Other Private Fund | Colorado | $184M | 1 |
| Coli Vul Managed Fund Ii (Wamco) | Other Private Fund | Colorado | $139M | 1 |
| Coli Vul 10: Investment Division 3 (Bank United) | Other Private Fund | Colorado | $116M | 1 |
| Coli Vul 10: Investment Division 2 (Wells) | Other Private Fund | Colorado | $56.7M | 1 |
Retirement plan clients
Plans that reported this firm as an investment service provider on Form 5500 Schedule C.
| Plan | Location | Plan year |
|---|---|---|
| Listrak, Inc. 401(k) Plan Listrak Inc. | 2024 |
People (27)
roster as of Jul 20, 2026| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Desmarais, Andre, Roger | Trustee | Oct 2013 (13y) | GP / trustee / elected manager of The Desmarais Family Residuary Trust (indirect) | |
| Desmarais, Paul, Guy | Trustee | Oct 2013 (13y) | GP / trustee / elected manager of The Desmarais Family Residuary Trust (indirect) | |
| Clouthier, John, Andrew | Assistant Treasurer | Apr 2014 (12y) | Less than 5% | |
| David George Mcleod | Manager | May 2016 (10y) | Less than 5% | |
| Stoner, Katherine, Leann | Cco, Head Of Compliance | Aug 2016 (10y) | Less than 5% | |
| Corwin, Andrew, N | Portfolio Manager | Apr 2017 (9y) | Less than 5% | |
| Desmarais, Sophie, Caroline | Trustee, Non Voting | Mar 2018 (8y) | GP / trustee / elected manager of The Desmarais Family Residuary Trust (indirect) | |
| Mendelsberg, Maria, Lynn | Portfolio Manager | Apr 2018 (8y) | Less than 5% | |
| Linton, Richard, Henry | Manager | May 2019 (7y) | Less than 5% | |
| Kreider, Jonathan, David | President And Ceo | Feb 2020 (7y) | Less than 5% | |
| Anderson, Tad | Assistant Portfolio Manager | Nov 2021 (5y) | Less than 5% | |
| Arnese, Anthony, Joseph | Assistant Portfolio Manager | Nov 2021 (5y) | Less than 5% | |
| Dande, Abhijit | Derivatives Risk Manager | Nov 2021 (5y) | Less than 5% | |
| Richards, Robyn, Rastetter | Assistant Portfolio Manager | Nov 2021 (5y) | Less than 5% | |
| Finster, Abiane | Assistant Secretary | Nov 2022 (4y) | Less than 5% | |
| Logsdon, Ryan, Lynn | Vice President & Counsel | Nov 2022 (4y) | Less than 5% | |
| Patel, Palak | Secretary | Nov 2022 (4y) | Less than 5% | |
| Zhivnitskaya, Olga | Counsel | Nov 2022 (4y) | Less than 5% | |
| Lazaro Guzman | Vice President | CFA | Feb 2023 (3y) | Less than 5% |
| Brown, Jack, Edward | Chief Investment Officer | Apr 2023 (3y) | Less than 5% | |
| New, Kelly, Blanchard | Financial Officer & Treasurer | Apr 2023 (3y) | Less than 5% | |
| Maiers, Mary, Carol | Manager | Jul 2023 (3y) | Less than 5% | |
| Fleming, Gregory, James | Trustee | Feb 2024 (3y) | GP / trustee / elected manager of The Desmarais Family Residuary Trust (indirect) | |
| Scott Johnson | Registered representative | CFA | Feb 2023 (3y) | |
| Eric Platt | Registered representative | CFA | Mar 2023 (3y) | |
| Jennifer Bourret | Registered representative | CFA | Mar 2023 (3y) | |
| Bradley Geissbuhler | Registered representative | Dec 2025 (1y) |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| Empower Services Holdings Us, Llc | Sole Member | Jan 2024 | A | 75% or more |
| Clough, Darrin Robert | Portfolio Manager | Apr 2021 | A | Less than 5% |
| Empower Annuity Insurance Company Of America | Member | Jan 2024 | B | ≈ 56.25% – 100% via Empower Services Holdings Us, Llc |
| Empower Holdings, Llc | Member | Jan 2024 | B | ≈ 42.19% – 100% via Empower Annuity Insurance Company Of America |
| Great West Lifeco U.S. Llc | Member | Jan 2024 | B | ≈ 31.64% – 100% via Empower Holdings, Llc |
| Great West Financial (Nova Scotia) Co. | Member | Feb 2000 | B | ≈ 23.73% – 100% via Great West Lifeco U.S. Llc |
| Great West Lifeco Inc. | Member | Feb 2000 | B | ≈ 17.8% – 100% via Great West Financial (Nova Scotia) Co. |
| Power Corporation Of Canada | Shareholder | Dec 1998 | B | ≈ 6.67% – 75% via Power Financial Corporation |
| The Desmarais Family Residuary Trust | Shareholder | Oct 2015 | B | ≈ 2.5% – 56.25% via Pansolo Holding Inc. |
| Power Financial Corporation | Shareholder | Mar 1986 | B | ≈ 8.9% – 75% via Great West Lifeco Inc. |
| Pansolo Holding Inc. | Shareholder | Oct 2015 | B | ≈ 3.34% – 56.25% via Power Corporation Of Canada |
Undisclosed: 0% – 25% of the firm is not attributable from the filed Schedule A bands.
Estimated effective ownership (look-through of filed bands):
- Empower Annuity Insurance Company Of America: 75% – 100% of Empower Services Holdings Us, Llc × 75% – 100% direct ≈ 56.25% – 100% of the firm
- Empower Holdings, Llc: 75% – 100% of Empower Annuity Insurance Company Of America × 75% – 100% of Empower Services Holdings Us, Llc × 75% – 100% direct ≈ 42.19% – 100% of the firm
- Great West Lifeco U.S. Llc: 75% – 100% of Empower Holdings, Llc × 75% – 100% of Empower Annuity Insurance Company Of America × 75% – 100% of Empower Services Holdings Us, Llc × 75% – 100% direct ≈ 31.64% – 100% of the firm
- Great West Financial (Nova Scotia) Co.: 75% – 100% of Great West Lifeco U.S. Llc × 75% – 100% of Empower Holdings, Llc × 75% – 100% of Empower Annuity Insurance Company Of America × 75% – 100% of Empower Services Holdings Us, Llc × 75% – 100% direct ≈ 23.73% – 100% of the firm
- Great West Lifeco Inc.: 75% – 100% of Great West Financial (Nova Scotia) Co. × 75% – 100% of Great West Lifeco U.S. Llc × 75% – 100% of Empower Holdings, Llc × 75% – 100% of Empower Annuity Insurance Company Of America × 75% – 100% of Empower Services Holdings Us, Llc × 75% – 100% direct ≈ 17.8% – 100% of the firm
- Power Corporation Of Canada: 75% – 100% of Power Financial Corporation × 50% – 75% of Great West Lifeco Inc. × 75% – 100% of Great West Financial (Nova Scotia) Co. × 75% – 100% of Great West Lifeco U.S. Llc × 75% – 100% of Empower Holdings, Llc × 75% – 100% of Empower Annuity Insurance Company Of America × 75% – 100% of Empower Services Holdings Us, Llc × 75% – 100% direct ≈ 6.67% – 75% of the firm
- The Desmarais Family Residuary Trust: 75% – 100% of Pansolo Holding Inc. × 50% – 75% of Power Corporation Of Canada × 75% – 100% of Power Financial Corporation × 50% – 75% of Great West Lifeco Inc. × 75% – 100% of Great West Financial (Nova Scotia) Co. × 75% – 100% of Great West Lifeco U.S. Llc × 75% – 100% of Empower Holdings, Llc × 75% – 100% of Empower Annuity Insurance Company Of America × 75% – 100% of Empower Services Holdings Us, Llc × 75% – 100% direct ≈ 2.5% – 56.25% of the firm
- Power Financial Corporation: 50% – 75% of Great West Lifeco Inc. × 75% – 100% of Great West Financial (Nova Scotia) Co. × 75% – 100% of Great West Lifeco U.S. Llc × 75% – 100% of Empower Holdings, Llc × 75% – 100% of Empower Annuity Insurance Company Of America × 75% – 100% of Empower Services Holdings Us, Llc × 75% – 100% direct ≈ 8.9% – 75% of the firm
- Pansolo Holding Inc.: 50% – 75% of Power Corporation Of Canada × 75% – 100% of Power Financial Corporation × 50% – 75% of Great West Lifeco Inc. × 75% – 100% of Great West Financial (Nova Scotia) Co. × 75% – 100% of Great West Lifeco U.S. Llc × 75% – 100% of Empower Holdings, Llc × 75% – 100% of Empower Annuity Insurance Company Of America × 75% – 100% of Empower Services Holdings Us, Llc × 75% – 100% direct ≈ 3.34% – 56.25% of the firm
Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.
Private funds (9, $2.5B gross assets)
| Fund | Type | Gross assets | Min. investment | Owners |
|---|---|---|---|---|
| Coli Vul Managed Fund Vi (Pimco) | Other Private Fund | $615M | $0 | 23 |
| Coli Vul 5 Series Account (Us Bancorp) | Other Private Fund | $524M | $0 | 1 |
| Coli Vul 11 Series Account (Bb&T) | Other Private Fund | $419M | $0 | 1 |
| Coli Vul 8 Series Account (American Express Ii) | Other Private Fund | $250M | $0 | 1 |
| Coli Vul Managed Fund Iv (Ecm) | Other Private Fund | $214M | $0 | 18 |
| Coli Vul 3 Series Account (Huntington) | Other Private Fund | $184M | $0 | 1 |
| Coli Vul Managed Fund Ii (Wamco) | Other Private Fund | $139M | $0 | 1 |
| Coli Vul 10: Investment Division 3 (Bank United) | Other Private Fund | $116M | $0 | 1 |
| Coli Vul 10: Investment Division 2 (Wells) | Other Private Fund | $56.7M | $0 | 1 |
From Form ADV Section 7.B private fund reporting.
Retirement plans served (1)
| Plan | Sponsor | Participants | Plan assets | As of |
|---|---|---|---|---|
| Listrak, Inc. 401(k) Plan | Listrak Inc. | 337 | $33.6M | 01/01/2024 |
From Form 5500 service-provider disclosures.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 03/31/2026 | 3.29 MB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
Regulatory · Item 11.D(4)
as of Aug 26, 2024
Allegations: THE STATE OF WASHINGTON OFFICE OF THE INSURANCE COMMISSIONER ("WA OIC") INITIATED A 2019 MARKET CONDUCT CONTINUUM RELATED TO GROUP ACCIDENT AND HEALTH POLICY FILINGS IN WASHINGTON. THE WA OIC ALLEGED DEFICIENCIES RELATED TO GROUP ACCIDENT AND HEALTH POLICY FILINGS IN WASHINGTON, COMPANY FINANCIAL RATINGS DISCLOSURES, AND TIMING OF CERTAIN INFORMATION FILINGS. Status: Final Sanction Detail: N/A Summary: IN A CONSENT ORDER LEVYING A FINE (ORDER NO. 21-0244, EFFECTIVE 6/4/2021), GWL&A PAID A $5,000 FINE AND ACKNOWLEDGED ITS DUTY TO COMPLY WITH THE RELEVANT STATUTORY AND REGULATORY REQUIREMENTS.
Disclosure text reproduced verbatim from the firm's own Form ADV filings.
How they charge
- • Percentage of assets under management
- • Fixed fees
Services
- • Portfolio management for investment companies
- • Portfolio management for pooled investment vehicles
- • Portfolio management for businesses/institutional clients
- • Selection of other advisers
- • Other services
Custody
Reported custodians
- BNY Mellon $14.0B (18% of AUM) Mar 2026
- State Street $6.0B (8% of AUM) Mar 2026
- Citibank $4.7B (6% of AUM) Mar 2026
- J.P. Morgan $2.8B (4% of AUM) Mar 2026
- Wells Fargo $955M (2% of AUM) Sep 2020
Amounts as reported in ADV Item 5.K.(3) (custodians holding 10%+ of SMA assets).
Firm reports it does not have custody of client funds or securities (Item 9.A).
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: Mar 31, 2026.
View current Form ADV (SEC/IAPD) ↗