Empirical Wealth Management
Empirical Wealth Management is an independent, employee-owned SEC-registered investment adviser founded in 2006, serving high-net-worth individuals through holistic wealth management spanning investment advisory, tax, estate, insurance, real estate, and trustee services across 18 U.S. offices.
- Company typePrivate
- Founded2006
- HeadquartersSeattle, United States
- Headcount51–100
- GTM typeB2C
- OfferingServices
What Empirical Wealth Management does
Empirical Wealth Management (legal entity Empirical Financial Services, LLC) is an independent, employee-owned SEC-registered investment adviser founded in 2006 by Kenneth R. Smith and headquartered in Seattle, Washington. The firm provides holistic wealth management services to high-net-worth individuals, business owners, retirees, and families planning generational wealth across 18 offices in 8 U.S. states (Alaska, California, Hawaii, Nevada, Oregon, Texas, Utah, and Washington). Core service lines include Goals-Based Planning & Investing, Tax Compliance & Strategy, Estate Planning, Real Estate Advisory, Insurance Services, Trustee Services, Philanthropic Guidance, and Business Services for entrepreneurs. The firm also operates dedicated Asian Wealth Advisory capabilities, supported by multilingual staff and a Chinese-language website presence.
The firm's technology stack is a layered third-party architecture rather than proprietary engineering: a client portal built on the Tamarac platform, Yodlee for account aggregation, Performance Technologies for electronic services, and Charles Schwab as primary custodian. Mobile applications are available on iOS and Android. No public or partner-facing API is offered, and the firm has not disclosed any proprietary AI or machine learning capabilities. The wholly-owned subsidiaries Empirical Insurance LLC and Empirical Real Estate Services / Empirical Properties, together with the affiliated Secure Legacy Law Group, allow Empirical to deliver estate, insurance, and real estate services in-house rather than outsourcing.
Empirical operates a recurring percentage-of-AUM fee model, aligning firm revenue with client portfolio growth rather than transaction volume. Distribution is exclusively direct: clients engage through in-person consultations at one of the 18 office locations or via phone/video, with ongoing servicing through the client portal and mobile apps. The firm reports $9B+ AUM, 97% client retention year-to-date, 96% employee retention, an average of 20+ years of advisor experience, and 100+ professional credentials across the team. Growth is pursued entirely organically, with no mergers or acquisitions used to expand scale, and the firm has been recognized by Forbes, Barron's, Wealthmanagement.com, and Newsweek as a top U.S. RIA.
Empirical Wealth Management firmographics
Firmographics- Name
- Empirical Wealth Management
- Legal name
- Empirical Financial Services, LLC
- Website
- https://empirical.net
- Company type
- Private
- Founded year
- 2006
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Empirical Wealth Management is an independent, employee-owned SEC-registered investment adviser founded in 2006, serving high-net-worth individuals through holistic wealth management spanning investment advisory, tax, estate, insurance, real estate, and trustee services across 18 U.S. offices.
- Ownership category
- akta.pro rank
Empirical Wealth Management industry classification
Industry- Product category
- Wealth Management
- NAICS
- Portfolio Management and Investment Advice (523940)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Registered Investment Advisor (RIA) Wealth Management (FSAEABAA)
- akta.pro secondary industries
- Financial Planning & Goals-Based Advice (Mass Affluent) (FSAAAAAF), Digital/Hybrid Robo-Wealth & Retirement Advisory (FSAEABAK), Hybrid Advice (Advisor + Digital) Platforms (FSAAAAAE)
Keywords
Where Empirical Wealth Management is headquartered
LocationHeadquarters
- HQ city
- Seattle
- HQ country
- United States
- HQ region
- North America
Offices18 records
Markets served
Empirical Wealth Management business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others
Revenue model
- Advisory Fees (Percentage of AUM): Empirical charges a percentage of portfolio value for wealth management services. This model aligns the firm's incentives with increasing client asset values, contrasting with transaction-based models that encourage frequent trading.
- Investment Management Fees: Fees for investment advisory services including goals-based planning and investing, portfolio management, and asset allocation
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Percentage of portfolio value model |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels5 records
Empirical Wealth Management product offering
Product offeringCore offering
Empirical Wealth Management is an independent, employee-owned registered investment adviser that provides holistic wealth management services to high-net-worth individuals. Its core offering integrates goals-based investment management with tax compliance and strategy, estate planning, real estate advisory, insurance planning, professional trustee services, and philanthropic guidance, delivered through dedicated advisor teams across 18 U.S. offices and supported by a client portal and mobile applications.
Product overview
Empirical Wealth Management offers a unified, holistic wealth management platform designed for high-net-worth individuals. The core offering is an integrated suite of services combining Goals-Based Planning & Investing with specialized advisory modules including Tax Compliance & Strategy, Estate Planning, Real Estate Advisory, Insurance Services, Trustee Services, and Philanthropic Guidance. The platform is delivered through a password-protected Client Portal, mobile applications (iOS/Android), and direct advisor relationships. Business Services are offered for business owner clients. Market Insights subscriptions provide ongoing educational content. The firm operates as a fiduciary, employee-owned registered investment adviser with $9B+ AUM and an integrated, multi-disciplinary team approach.
Differentiator
Problem solved
Functional benefit
Products and services
- Goals-Based Planning & Investing
Quantifiable outcome
- Best financial advisors can add 3% or more to portfolio value (Vanguard 2022 study)
- +8 more outcomes
Companies that use Empirical Wealth Management
Customer profileNamed customers2 records
Segments4 records
Ideal customer profiles4 records
Empirical Wealth Management technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
Feature3 records
Empirical Wealth Management partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core and minor.
- Secure Legacy Law Group, P.C.coreSeparate legal services firm providing estate planning and legal advice to Empirical clients. Secure Legacy is wholly owned by James Jones, II, a minority member of Empirical. Some employees work at both firms.
- Empirical Insurance LLCcoreWholly-owned subsidiary of Empirical providing insurance-planning services for life, disability, and long-term care insurance needs of clients.
- Empirical Real Estate Services / Empirical PropertiesminorAffiliate providing real estate brokerage services through licensed real estate brokers. Offers full spectrum of residential real estate services.
Scale indicators10 records
Recent moves8 records
Expansion highlights6 records
Empirical Wealth Management competitors and assessment
Company assessmentDirect peers
- Creative Planning: Large independent RIA serving HNW individuals with comprehensive wealth management, tax, and estate planning. Comparable multi-disciplinary team model, AUM scale in tens of billions, and organic-plus-M&A growth strategy.
- Mariner Wealth Advisors: Independent RIA offering holistic wealth advisory, tax, estate, and family office services to HNW clients. Overlapping service catalog, similar fiduciary positioning, and aggressive M&A-driven growth.
- Buckingham Strategic Wealth: Independent RIA providing evidence-based investment management, financial planning, and tax services to HNW households. Closely aligned business model and fiduciary philosophy.
- Fisher Investments: Large independent investment adviser serving HNW and institutional clients with portfolio management and financial planning. Comparable AUM scale, fee-based model, and HNW target market.
- Edelman Financial Engines: Large independent RIA combining financial planning, investment management, and workplace retirement advice for HNW individuals. Direct competitor in fiduciary wealth advisory.
- Carson Group: RIA and coaching platform serving independent financial advisors and their HNW clients. Comparable wealth management offering with emphasis on advisor support and growth infrastructure.
Broad incumbents
- Focus Financial Partners: Public partnership of independent RIAs and wealth management firms. Broad incumbent in the RIA space, providing scale, M&A, and back-office infrastructure to firms similar to Empirical.
- Cetera Financial Group: Large broker-dealer and RIA platform supporting independent advisors and wealth management firms. Overlaps with Empirical on multi-disciplinary wealth services but at larger scale via affiliated advisors.
- LPL Financial: Largest independent broker-dealer in the U.S., providing custody, technology, and advisory infrastructure. Empirical even holds a position in LPL via its 13F filings, reflecting LPL's relevance to the RIA ecosystem.
Others
- Charles Schwab: Empirical's primary custodian and strategic infrastructure partner. Not a direct competitor in advisory services but a critical operational dependency and adjacent participant in retail wealth management.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Empirical Wealth Management social profiles
Digital presenceEmpirical Wealth Management compliance and trust
Trust signalCompliance3 records
Empirical Wealth Management financial estimates
Financial estimateRevenue estimate
Valuation estimate
Empirical Wealth Management leadership team
Management profileNumber of profiles
Profiles15 records
Empirical Wealth Management subsidiaries and ownership
Company hierarchySubsidiaries3 records
Empirical Wealth Management funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Empirical Wealth Management M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Empirical Wealth Management
What does Empirical Wealth Management do?
Empirical Wealth Management is an independent, employee-owned registered investment adviser that provides holistic wealth management services to high-net-worth individuals. Its core offering integrates goals-based investment management with tax compliance and strategy, estate planning, real estate advisory, insurance planning, professional trustee services, and philanthropic guidance, delivered through dedicated advisor teams across 18 U.S. offices and supported by a client portal and mobile applications.
Is Empirical Wealth Management a public or private company?
Empirical Wealth Management is a private company. It is classified as management employee owned and is currently operating.
When was Empirical Wealth Management founded?
Empirical Wealth Management was founded in 2006. It employs 51 to 100 people.
Where is Empirical Wealth Management based?
Empirical Wealth Management is headquartered in Seattle, United States, in the North America region.
How does Empirical Wealth Management make money?
Two revenue lines are on record. Advisory Fees (Percentage of AUM) is the primary driver. The others are investment Management Fees.
Who are Empirical Wealth Management's main competitors?
Direct peers on record are Creative Planning, Mariner Wealth Advisors, Buckingham Strategic Wealth, Fisher Investments, Edelman Financial Engines and Carson Group. Broad incumbents are Focus Financial Partners, Cetera Financial Group and LPL Financial. Charles Schwab is listed as an others.
Does Empirical Wealth Management have an API?
No public API is recorded for Empirical Wealth Management.
What industry is Empirical Wealth Management in?
Empirical Wealth Management's product category is Wealth Management. Its primary akta.pro industry code is FSAEABAA, Registered Investment Advisor (RIA) Wealth Management, with a secondary code of FSAAAAAF, Financial Planning & Goals-Based Advice (Mass Affluent). Its NAICS code is 523940 and its SIC code is 6282.