Empower, the second-largest retirement plan provider in the US, has appointed Roger Hobby as executive vice president and head of advisory and distribution for the firm’s wealth management business – Empower Personal Wealth.
Joining on 1 April, Empower hopes to leverage Hobby’s “extensive” wealth management, executive benefits, workplace, and general management skills. In his new role, he has been tasked with leading the company’s in-plan and direct-to-consumer long-term customer focus, which will include delivering “outstanding” service, financial planning and advice expertise. He will report to Carol Waddell, president of Empower Personal Wealth.
Empower described Hobby as a “proven” financial services leader with “tremendous success” in growing businesses throughout his career spanning 35 years.
He most recently worked at Fidelity Investments, where he was head of distribution for private wealth management, executive services, workplace planning and advice, and stock plan services. He led Fidelity’s service to high-net-worth clients and workplace participants to help them meet their investment, equity compensation, trading and planning needs.
Prior to his recent role at Fidelity, Hobby was president of Fidelity’s family office services group, where he was responsible for managing all strategy, sales, business development, technical product development and relationship management for high-net-worth clients.
He previously served as president of Wilmington Trust, where he led the development of wealth advisory services for clients throughout northeastern US, including private banking, equity compensation planning, investment services, fiduciary services and family office services.
“Empower is well positioned to continue the success they’ve had through an intense focus on the needs of customers, and I’m proud to become a part of their story,” said Hobby. “While Empower Personal Wealth is a more recent entrant in the wealth management market, we have a great opportunity to deliver world-class experiences to help customers achieve results.”
Founded in 1891 and headquartered in Greenwood Village, Colorado, US, Empower manages approximately $1.5 trillion in assets for more than 18.5 million investors by offering retirement plans, advice, wealth management and investments. It launched Empower Personal Wealth as a new unit in January last year and as of December, the unit handles $65 billion.
