Compare
Novak Financial Partners vs. Empower
Compare a flat annual fee with Empower Personal Strategy's percentage-of-assets pricing, and how each firm delivers advisor access and investment management.
Novak's pricing is based on whether a household is accumulating wealth or approaching or navigating retirement. Both plans include comprehensive planning, investment management, and a direct relationship with one of the practice's two CFP® professionals. Advisory services are offered through Core Planning LLC.
Empower Personal Strategy is a national digital wealth-management platform charging a percentage of assets under management, starting at 0.89% and requiring at least $100,000 to enroll. Clients with $100,000 to $249,999 receive guidance from an advisory team. At $250,000, clients receive two dedicated financial advisors and additional planning services, while Private Client services begin at $1 million.
Side-by-side comparison
| Feature | Novak Financial Partners | Empower |
|---|---|---|
| Fee | $4,000 or $6,000 per year, flat | Starts at 0.89% of assets managed annually, declining at higher asset tiers |
| Investment minimum | None | $100,000 |
| Advisor relationship | Direct relationship with one of the practice's two CFP® professionals | Advisory team from $100,000; two dedicated advisors at $250,000 and above |
| Planning and investment management | Comprehensive planning and investment management included | Portfolio management and financial planning included; additional planning services expand at higher asset levels |
| How cost changes | Fixed annual fee; does not change with investable assets | Dollar cost generally increases as managed assets grow, while the percentage rate declines at higher asset tiers |
| Tax services | Tax planning and coordination with the client's CPA; tax-return filing not provided | Tax optimization at every service level; broader tax planning beginning at $250,000; access to tax filing through an unaffiliated Taxfyle professional |
| Technology | Established third-party planning and investment tools | Proprietary digital dashboard and net-worth tracking platform |
Illustrative annual fees based on Empower's published schedule are approximately $2,225 at $250,000, $4,450 at $500,000, and $7,900 at $1 million managed. These illustrations exclude underlying fund expenses and other costs that may apply; confirm current pricing directly with Empower.
Which one fits you?
Novak may fit you if…
- ✓You want one CFP® professional to remain your primary advisor
- ✓You want a predictable fee that isn't tied to your portfolio size
- ✓You don't want an asset minimum to qualify for comprehensive planning
- ✓You prefer an advisor-led relationship supported by established third-party technology
Empower may fit you if…
- ✓You prefer a large national platform with an integrated digital dashboard
- ✓You're comfortable with a percentage-of-assets fee structure
- ✓You have at least $100,000 to invest and want expanded advisor access as your assets grow
- ✓You want integrated access to a third-party tax-filing professional through Empower's dashboard
Frequently asked questions
How do Novak's and Empower's fees compare?
Novak charges $4,000 for households accumulating wealth and $6,000 for households approaching or navigating retirement, regardless of portfolio size. Empower charges 0.89% for accounts from $100,000 through $999,999 and 0.79% for the first $3 million of Private Client assets beginning at $1 million. Based on Empower's published schedule, the annual advisory fee is approximately $2,225 at $250,000, $4,450 at $500,000, and $7,900 at $1 million. Because the firms use different pricing models, compare the dollar cost and included services at your specific asset level.
What is the primary difference between Novak and Empower?
Both offer investment management and financial planning, but the pricing and delivery models differ. Novak charges a flat annual fee and clients work directly with one of the practice's two CFP® professionals, supported by established third-party technology. Empower charges a percentage of assets under management and delivers its service through a national digital platform, with advisor access expanding as a client's assets grow.
Does either firm require an asset minimum?
Novak has no asset minimum. Empower requires at least $100,000 in investable assets to enroll in Personal Strategy.
Does Novak or Empower prepare tax returns?
Novak provides tax planning and coordinates with a client's CPA but does not prepare or file tax returns. Empower provides tax optimization at every service level and broader tax planning beginning at $250,000. Empower clients can also be matched with a tax-filing professional through its dashboard; that filing service is provided by Taxfyle, an unaffiliated third party. Confirm the filing scope and cost directly with Empower or Taxfyle.
Disclosure: Novak Financial Partners created this comparison and has a financial interest in prospective clients considering our practice. Novak Financial Partners is not affiliated with, and this page is not endorsed by, Empower. Fees for Empower are based on publicly available information reviewed as of September 4, 2026. Actual fees may vary based on account size, services, negotiation, household complexity, and other factors. Prospective clients should review Empower's current Form ADV and advisory agreement.
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Schedule a Free Intro CallFlat annual fee. No asset minimum. Serving clients nationwide from Carbondale, IL.