Softwr

Accounting · head to head

Empower vs Workiva

Empower logo

Empower

Accounting

All your finances. One app.

From
On request
Rated
-
Full reviewWebsite
Workiva logo

Workiva

Accounting

Connected reporting platform for SEC filings, iXBRL tagging, SOX and sustainability disclosure

From
On request
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: Empower specific advisory fees not published; Form ADV consultation required; Workiva pricing is quoted per solution and per user and is not published, and because moving a filing cycle off the platform carries deadline risk, renewal negotiations favour the vendor heavily.
  • They diverge on capability: Empower covers Net worth tracking, Workiva covers Linked data.
  • Prices and features above were last checked on 31 August 2026.

Where they differ

Only the attributes on which Empower and Workiva actually diverge.

Attributes where Empower and Workiva differ
AttributeEmpowerWorkiva
PlatformsWeb, Ios, AndroidWeb
Founded2009Unknown

Identical on both: starting price (On request), pricing model (quote), free tier (No), user rating (Not yet rated), category (Accounting).

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
  • Investment tracking
  • Retirement planner
  • Cash flow
  • 401k fee analyzer
  • Bank connections
  • Brokerage accounts
  • SOC 2

Only in Workiva

  • Linked data
  • Inline XBRL tagging
  • SEC filing
  • SOX and controls
  • Sustainability reporting
  • Audit trail
  • Collaboration
  • Data connectors

What people use each for

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

Empower

  • Wealth trackingnot Workiva
  • Retirement planningnot Workiva
  • Investment analysisnot Workiva

Workiva

  • A newly public company facing its first 10-K where the tie-out process in Word and Excel is not survivable at the deadlinenot Empower
  • A European group preparing CSRD sustainability disclosure that must be assurance-ready rather than a marketing documentnot Empower
  • A finance team whose auditors keep raising review points about version control and unsupported changes in the reporting packnot Empower
  • A group with several statutory filers that wants one set of numbers feeding many jurisdictional reportsnot 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

Workiva

  • Pricing is quoted per solution and per user and is not published, and because moving a filing cycle off the platform carries deadline risk, renewal negotiations favour the vendor heavily.
  • Cost is difficult to justify for smaller filers whose reporting burden is a single 10-K a year, where an outsourced financial printer is cheaper.
  • Getting the initial linked-data structure right is a substantial project, and companies that rush the first cycle end up with links that break and a manual tie-out anyway.
  • The spreadsheet interface is deliberately not Excel and finance teams accustomed to Excel keyboard behaviour and modelling features find it slower for anything analytical.
  • ESG and sustainability modules were added later than the financial reporting core and buyers report them as less mature, so a company buying primarily for CSRD is buying the newer and weaker half of the product.

Pricing, plan by plan

Empower

On request

No published plan breakdown. See the Empower review.

Workiva

On request
  • Workiva Platform$undefined/year
    • Linked data across documents and spreadsheets
    • SEC and ESEF filing with iXBRL tagging
    • SOX, internal audit and statutory reporting modules

Which should you pick?

Choose Empower if

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

Choose Workiva if

  • You need linked data.
  • You also want inline xbrl tagging.
Workiva review

Questions people ask

Is Empower or Workiva better?
Neither clearly leads. Empower starts at On request and Workiva at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Empower or Workiva?
Empower starts at On request and Workiva at On request.
Does Empower or Workiva run on more platforms?
Empower runs on Web, Ios, Android. Workiva runs on Web.
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 Workiva is typically brought in for.
What can Empower do that Workiva cannot?
Empower covers Net worth tracking, Investment tracking, Retirement planner, Cash flow. Workiva covers Linked data, Inline XBRL tagging, SEC filing, SOX and controls.

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
Workiva: Does Workiva do the XBRL tagging for me?

The platform provides tagging tools and validation, and Workiva offers services, but the tagging judgement remains the filer's responsibility.

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
Workiva: Is it only for US SEC filers?

No. It supports European ESEF filings, statutory reporting in several jurisdictions and sustainability frameworks such as CSRD and ISSB.

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
Workiva: What does it cost?

Not published. Expect tens to hundreds of thousands of dollars a year depending on solutions and user count.

Empower: Are there fees for stock and ETF trading?

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

Source
Workiva: Can it replace our consolidation system?

No. It reports on consolidated numbers and connects to ERP and consolidation tools, but it does not perform the consolidation.

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