An agreement between New York fintech company Pontera and Morningstar now enables advisers using Morningstar Office to trade, manage and monitor their clients’ held-away accounts.
“More than half of the median American’s wealth is held in employer-sponsored, defined-contribution accounts like 401(k)s, which have historically been difficult for advisers to manage in a compliant, secure and streamlined way,” Pontera’s Dave Goldman said in a release.
“With this integration, advisers can manage and trade these accounts through Pontera, and receive the household data and reporting that they need through Morningstar Office,” he said.
Pontera was founded in 2012 as FeeX.
Raymond James also lured another ex-Edward Jones advisor in South Carolina, while LPL welcomed a mother-and-son team from Edward Jones and Thrivent.
MyVest and Vestmark have also unveiled strategic partnerships aimed at helping advisors and RIAs bring personalization to more clients.
Wealth management unit sees inflows of $23 billion.
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