Empower Hits $2.5B in ISA Sales, Strongpoint Partners with UBP
Empower Zero-Fee ISA Reaches $2.5B in Sales
Empower on Thursday announced that its Empower S&P 500 Index Separate Account has surpassed $2.5 billion in cumulative sales since its launch earlier this year, and is on track to achieve $5 billion in total sales by year-end 2025.
“Reaching $2.5 billion in sales in under three months demonstrates the trust retirement investors place in Empower’s commitment to provide affordable, accessible retirement solutions,” said Empower President & CEO Edmund F. Murphy. “We are proud to help more Americans to take control of their financial futures with products designed specifically for long-term retirement success.”
Empower Executive Vice President and Head of Empower Investments Jonathan Kreider, CFA, added, “The Empower S&P 500 Index Separate Account has resonated with a broad spectrum of advisors and plan sponsors thanks to its simplicity, transparency, and cost-effectiveness. We remain dedicated to expanding access to retirement products that help drive improved retirement savings.”
The fund is available to all investors saving for retirement through defined contribution (DC) plans, including 401(k), 401(a), 457(b), and defined benefit plans as well as other qualified retirement accounts. This fund seeks investment results that track the total return of the common stocks that comprise the Standard & Poor’s (S&P) 500 Index and is sub-advised by BlackRock.
Empower recognizes the widespread uptake of S&P 500 Index funds within the DC space — as well as the complementary nature of this offering opposite the full Empower Institutional Separate Account Platform, which represents over 100 strategies and more than $85 billion in assets under management (AUM) as of June 30, 2025.
Strongpoint Partners with UBP
Strongpoint Partners this week announced it is expanding its reach to New York City in a new partnership with United Benefit Pensions, LLC.
UBP, a provider of personalized qualified retirement plan solutions, services the New York metropolitan area from their offices in Melville, NY.
“We’re thrilled to expand into the New York market by welcoming Matthew (Phillips, principal of UBP), Joseph (Cibirka, principal of UBP), Paul (Carmichael, principal of UBP), and their incredible team of retirement plan specialists, consultants, and actuaries into the Strongpoint family,” said Danny Hest, CEO of Strongpoint Partners. “Their unique approach to personalized service and custom retirement strategies will fit seamlessly into our culture at Strongpoint.”
UBP’s team members will remain in their roles as part of the agreement.
“Strongpoint shares our values and deep care for our team and our clients,” said Phillips. “When Joe, Paul, and I thought about how to take UBP to the next level, it was clear that we needed a partner who could offer us new resources while allowing us to do what we do best: provide high quality specialized services to each of our clients and our employees.”
RELATED: Strongpoint Partners Announces Collab with ACI
Savvy Advisors Adds Influx of Industry Experts
Savvy Advisors Inc., a federally registered investment advisor (RIA) affiliated with Savvy Wealth, Inc., has added Perspective 6 Wealth Advisors, a Minneapolis-based team with approximately $270 million in assets under management (AUM).
In tandem, Savvy welcomed 12 additional advisors from across the United States, bringing its total advisor headcount to 68 since launching in 2022.
Perspective 6 serves clients nationwide, with concentrations in Minnesota, Wisconsin, California and Florida. Its team specializes in advising professionals in the medical technology and medical device industries, with services including equity compensation planning, complex benefits strategy, business owner succession planning and retirement planning. The firm is led by Matt Nelson, CFP, AIF, ECA; Matthew J. Finley CFP; and Jacob LaRue CFP.
“At Perspective 6, we’re dedicated to helping our clients achieve their goals, creating a supportive environment for our team and working toward something bigger than ourselves,” said Nelson, managing partner and wealth manager at Perspective 6. “We saw joining Savvy as an opportunity to be part of a firm that’s changing the client experience and redefining what a modern RIA can offer. Savvy offers the rare combination of modern infrastructure, strong marketing support and a long-term vision for where financial advice is headed. We believe that joining Savvy will position us to grow faster, serve more clients and ultimately have greater impact.”
In addition to Perspective 6, Savvy has welcomed 12 more advisors across the country:
- Alex Barnes, CFP – Fort Mill, SC
- Josh Bergman, JD, CFA – New York, NY
- Kristin Dunlevy, CPFA, AIF – Prospect, KY
- Scott Jensen – Minneapolis, MN
- Greg Kirwan, CFP – North Kingstown, RI
- Lee Levy – Alamo, CA
- Evan Melching, AWMA – Indianapolis, IN
- Luis Miletti, CRPC, CIMA – Louisville, KY
- Aaron Peloquin, CPA, CFP – Minneapolis, MN
- Dustin Roberts – Turlock, CA
- Dave Sharpe, CRPC, APMA, C(k)P, CRPS, CPFA, CLTC – Lake Geneva, WI
- Dustin Thomas, CPA, CFP – Indianapolis, IN
This news follows a period of rapid momentum for Savvy. The company recently closed its $72 million Series B funding round, and former LPL Financial CEO and Chairman Mark Casady also joined Savvy’s board of directors.
Nationwide, Midland to Offer Index Annuity
Nationwide announced that it will begin selling Midland National Capital Income, a fixed indexed annuity (FIA) for fee-only advisors, in an effort to enhance the company’s suite of advisory FIA options. Midland Advisory, part of Midland National Life Insurance Company, will distribute the FIA alongside Nationwide, expanding their product offering beyond their current advisor network.
“Working together with Midland Advisory, Nationwide will now be able to offer another guaranteed product for advisors that will help them bridge the retirement gap for their clients.”
Eric Fry, Nationwide
A competitive income solution specifically designed for advisory practices, Capital Income provides guaranteed lifetime income through a built-in Guaranteed Lifetime Withdrawal Benefit (GLWB) for an annual 1% charge. It also features an embedded ADL Benefit Rider, known as the health-activated income multiplier, which allows a client to double their annual lifetime payment for five years if they can no longer perform two of six listed “Activities of Daily Living,” or ADLs.
“As we enter a period of peak retirement, many pre-retirees are seeking out advisors and solutions to ensure they have the resources they need to secure peace of mind for their golden years,” said Eric Fry, associate vice president of Nationwide Advisory product development. “Working together with Midland Advisory, Nationwide will now be able to offer another guaranteed product for advisors that will help them bridge the retirement gap for their clients.”
Two factors that distinguish Capital Income from other advisory FIAs, said Fry, are that there is no waiting period to start income, as long as all payees meet the age requirements, and that the ADL benefit is available even after the account value is depleted.
“One of the biggest challenges in financial planning is bridging the transition from funding retirement to creating a solid decumulation strategy that both the advisor and client can trust. Advisors don’t have as many options for client retirement income as they do for accumulation,” said Cooper Sinclair, head of Strategy for Midland Advisory at Midland National. “With Nationwide and Midland Advisory working together, we expect to bring annuity benefits to more financial advisors and their clients.”
Midland Advisory, part of Midland National Life Insurance Company, specializes in retirement solutions aimed for registered investment advisors (RIAs) and their clients.