Empower Retirement joins Colorado Investment Services Coalition
Leading retirement provider joins industry association to promote investment services in Centennial State
GREENWOOD VILLAGE, Colo., October 14, 2015 — Empower Retirement, the nation’s second-largest retirement services provider, announced Wednesday it will partner with other Denver-area companies as a member of the Colorado Investment Services Coalition (CISC), which was established in early 2015 to help advocate for the state’s investment services and management industry.
Empower joins some of Colorado’s largest investment services firms such as Charles Schwab & Co. Inc., Fidelity Investments, Janus, Oppenheimer Funds, TIAA-CREF and T. Rowe Price. An industry affiliate of the Metro Denver Economic Development Corporation, the CISC is leading initiatives focused on talent attraction and development within the industry through concerted partnerships with area colleges and universities. Coalition members also advocate for legislative policy at the state and federal level conducive to industry growth and job creation in Colorado.
“Colorado is emerging as a major hub for the investment services industry. We knew that we would need a highly skilled talent pool when we established Empower here a year ago,” said Edmund F. Murphy, III, president of Empower. “We’re looking forward to working closely with this coalition on issues of common interest.”
"The investment services industry is growing at four times the national average in Colorado. We're pleased to have Empower Retirement join the Coalition and partner with us on vital policy issues and talent attraction initiatives," said Tom Clark, CEO of the Metro Denver Economic Development Corporation.
Headquartered in Greenwood Village, Empower employs some 3,000 associates and serves all segments of the employer-sponsored retirement plan market: government 457 plans; small, midsize and large corporate 401(k) clients; non-profit 403(b) entities; and private-label recordkeeping clients. Empower provides retirement services to more than 30,000 employers covering more than 7.5 million participants.
According to the Metro Denver Economic Development Corporation, financial services companies in Colorado employ 29,040 people statewide and, overall, the industry had a $6.7 billion economic impact to the state in 2014. CISC members will hire an estimated 1,500 employees in 2015, according to the Coalition. Colorado has the 13th-largest financial services sector among the 50 states.