Pontera, a fintech firm that specializes in helping advisors manage 401(k) accounts more effectively, has announced another collaboration to help advisors meet the evolving needs of retirement savers.
Under the new partnership with RIA Captrust Financial Advisors, Pontera’s software will be integrated into the Captrust tech ecosystem, giving its financial advisors more advanced tools to offer comprehensive wealth planning and investment advice.
The integration is expected to facilitate better management across client portfolios and accounts, including employer-sponsored retirement plans.
Pontera’s latest partnership comes as the broader picture of retirement security for US workers continues to grow more clouded. One 2023 Gallup poll revealed that 59% of retirees rely on Social Security as a primary income source, with projections suggesting Social Security trust funds may be depleted by 2034, which could lead to a cut in benefits if Congress doesn't come up with a solution.
"Captrust and Pontera are united in the belief that every investor can benefit from receiving personalized wealth management from a trusted and unbiased financial advisor,” Eddie Welch, Captrust's head of wealth management, said in a statement.
Captrust is a significant entity in the retirement plan advice and wealth management sector, with more than 1,500 employees spread across 90 locations nationwide. As of September 30, the firm oversaw assets totaling over $817 billion, including $668 billion in nondiscretionary assets under advisement and $149 billion in discretionary managed account assets.
Pontera's platform provides a secure, client-permissioned tool allowing advisors to manage assets in various retirement accounts, including 401(k)s and 403(b)s. The technology enables Captrust advisors to analyze fund options, review historical performance, and align investments with their clients’ personalized financial strategies.
"We're thrilled to work with Captrust, a leading retirement plan advisor," said David Goldman, Pontera's chief business officer, said.
Pontera’s expansion through the US retirement planning space has been slow but steady, including a deal with Savant Wealth Management last July. Before that, it had secured a partnership with $6 billion Atlanta Wealth firm SignatureFD, which oversees $550 million in outside assets.
The fintech firm’s growth ambitions got a boost in December, when Pontera revealed it had secured $60 million in additional investment capital in a funding round led by Iconiq Growth.
Some in the industry say that more UBS financial advisors this year will be heading for the exits.
The Wall Street giant has blasted data middlemen as digital freeloaders, but tech firms and consumer advocates are pushing back.
Research reveals a 4% year-on-year increase in expenses that one in five Americans, including one-quarter of Gen Xers, say they have not planned for.
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.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
