Empower Retirement completed the acquisition of Personal Capital for $1bn.

Empower Retirement, the US' second-largest retirement services provider, completed the acquisition of Personal Capital, an online financial advisor and personal wealth management company, for $1bn. "Empower and Personal Capital are joining forces to take the next step forward in the evolution of an integrated platform to deliver personalized advice, financial wellness and comprehensive financial planning to millions of individual investors and retirement plan participants. The acquisition of Personal Capital and the integration of their tools and capabilities into the Empower offering is designed to create a best-of-breed platform — powered by digital and human advice — to help individuals achieve their financial goals," Edmund F. Murphy, Empower President and CEO.