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Empower climbs to $1.4 trillion on fifth acquisition--Prudential's record-keeping business-- but Fidelity hit the $1.4-trillion mark in 2014 and is pulling away on organic growth alone

Empower's $3.4 billion deal ups total assets to $1.4 trillion, a distant second to Fidelity's $3.2 trillion in administered assets.

Author Lisa Shidler July 24, 2021 at 3:09 AM
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Edmund Murphy III, ex-Fidelity, is using a blank checkbook from Great-West to buy every recordkeeping orphan but it still can barely see Fidelity's taillights across the $1.7-billion void.

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