Softwr

Accounting · head to head

Empower vs Monarch Money

Empower logo

Empower

Accounting

All your finances. One app.

From
On request
Rated
-
Full reviewWebsite
Monarch Money logo

Monarch Money

Personal Finance

All-in-one wealth management platform

From
$99/year
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: Empower specific advisory fees not published; Form ADV consultation required; Monarch Money the free trial is one week, after which a paid subscription is required to keep using the app
  • They diverge on capability: Empower covers Net worth tracking, Monarch Money covers Budget management.
  • Prices and features above were last checked on 30 August 2026.

Where they differ

Only the attributes on which Empower and Monarch Money actually diverge.

Attributes where Empower and Monarch Money differ
AttributeEmpowerMonarch Money
Starting priceOn request$99/year
Pricing modelquotesubscription
CategoryAccountingPersonal Finance
Founded20092022

Identical on both: free tier (No), platforms (Web, Ios, Android), user rating (Not yet rated).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in Empower

  • Net worth tracking
  • Retirement planner
  • Cash flow
  • 401k fee analyzer
  • Bank connections
  • Brokerage accounts
  • SOC 2
  • Bank-level encryption

Only in Monarch Money

  • Budget management
  • Tax planning
  • Financial insights
  • Bank accounts
  • Investment accounts
  • Cryptocurrency
  • IOS support

Both cover

  • Investment tracking
  • Web support
  • Android support

What people use each for

The jobs each tool is most often brought in to do.

Empower

  • Wealth trackingnot Monarch Money
  • Retirement planningnot Monarch Money
  • Investment analysisnot Monarch Money

Monarch Money

  • Tracking household budgets and spending across linked bank accountsnot Empower
  • Shared budgeting between partners in one accountnot Empower
  • Monitoring net worth and investment balances alongside cash accountsnot Empower

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Empower

  • Specific advisory fees not published; Form ADV consultation required
  • High minimum investment thresholds ($100,000 for Personal Strategy)
  • Detailed fee structure available only in Form ADV documents

Monarch Money

  • The free trial is one week, after which a paid subscription is required to keep using the app
  • The advertised 30 percent discount with code WELCOME applies to the first year only and is restricted to new users
  • There is no free tier, and a Plus tier gates features above the base subscription

Pricing, plan by plan

Empower

On request

No published plan breakdown. See the Empower review.

Monarch Money

$99/year
  • Core Plan$99/year
    • 7-day free trial
  • Plus$null/year
    • Premium features

Which should you pick?

Choose Empower if

  • You need net worth tracking.
  • You work on Web, Ios, Android.
  • You also want retirement planner.
Empower review

Choose Monarch Money if

  • You need budget management.
  • You work on Web, IOS, Android.
  • You also want tax planning.
Monarch Money review

Questions people ask

Is Empower or Monarch Money better?
Neither clearly leads. Empower starts at On request and Monarch Money at $99/year, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Empower or Monarch Money?
Empower starts at On request and Monarch Money at $99/year.
Does Empower or Monarch Money run on more platforms?
Empower runs on Web, Ios, Android. Monarch Money runs on Web, IOS, Android.
What is Empower best used for?
Empower is most often used for wealth tracking, retirement planning, investment analysis. Of those, wealth tracking and retirement planning are not what Monarch Money is typically brought in for.
What can Empower do that Monarch Money cannot?
Empower covers Net worth tracking, Retirement planner, Cash flow, 401k fee analyzer. Monarch Money covers Budget management, Tax planning, Financial insights, Bank accounts. Both handle Investment tracking, Web support, Android support.

Answered from the vendors’ own pages

Empower: Does Empower have a minimum investment requirement?

Empower's advisory services require different minimums based on service level. Personal Strategy advisory requires a minimum of $100,000 in investable assets. Private Client services require $1,000,000 or more.

Source
Monarch Money: How much does Monarch Money cost?

Monarch Money Core plan costs 99 USD/year, referenced in customer testimonials and promo code terms. Additional Plus tier exists but specific pricing is not disclosed on the main page.

Source
Empower: How are Empower's advisory fees calculated?

Advisory fees are calculated based on the amount of assets being managed under advice. Specific fee rates are not disclosed on the homepage.

Source
Monarch Money: Is there a free trial?

Yes, Monarch Money offers a 7-day free trial for new users with no credit card required.

Source
Empower: Is the high-yield cash account free?

Yes. Empower's high-yield cash account has no account fees and no minimum balance required.

Source
Monarch Money: Are there discounts available?

Monarch Money offers 30% off the first year with promo code WELCOME for new members on annual Core plan subscriptions. Cannot be combined with other offers.

Source
Empower: Are there fees for stock and ETF trading?

Empower offers commission-free trading for stocks and ETFs with low fees.

Source
Share

Related pages

More on Empower

More on Monarch Money

Keep looking

Other head to heads