At a glance
- Waddell joined Empower at its founding in 2014 from J.P. Morgan Retirement Plan Services and built the company's IRA rollover offering into a full-service wealth management business.
- For advisors whose clients are in Empower-recordkept plans, the succession decides who leads the unit that markets IRA rollovers to those participants.
- The unit took in $2.5 billion of net inflows in the third quarter, as Private Wealth Daily previously reported.
Carol Waddell, president of Empower Personal Wealth and a founding executive of the Denver recordkeeper, will retire at the end of 2026, Empower said Nov. 9. A search for her successor is underway.
Waddell joined Empower at its founding in 2014 from J.P. Morgan Retirement Plan Services and built the company's IRA rollover offering into a full-service wealth management business. She helped form Empower Personal Wealth in 2023, combining Empower's consumer business with the Personal Capital business it had acquired.
For advisors whose clients are in Empower-recordkept plans, the succession decides who leads the unit that markets IRA rollovers to those participants.
The unit took in $2.5 billion of net inflows in the third quarter, as Private Wealth Daily previously reported. Empower reported $195.4 billion of regulatory assets in the Form ADV it filed with the SEC on July 9.
Waddell will work with Empower's leadership through the end of the year to manage the transition.
Reported by the Plans & Sponsors desk from 401(k) Specialist, Private Wealth Daily archive and Form ADV filings with the SEC. Published . Corrections