Pontera, a fintech formerly known as FeeX, said that it’s partnering with SageView Advisory Group, an RIA with $175 billion in assets, to help the firm’s advisers manage clients’ held-away retirement accounts.
Pontera's service lets advisers allocate assets in client accounts that they don’t custody, like 401(k)s and health savings accounts, without getting into trouble with regulators.
"Advisers must be able to present a comprehensive plan that delivers the best possible solution for their clients,” Jim Dario, head of wealth management at SageView, said in a statement. "And this is extremely difficult to do without incorporating a client’s held-away accounts, which often make up a significant portion of their assets.”
Pontera has been striking more deals with RIAs recently, including signing up Carson Group last October.
Elsewhere, a Commonwealth team in Massachusetts converts to Cetera, while Janney draws four former Wells Fargo advisors to its Radnor, Pennsylvania office.
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The partnership arrives as most small business owners near retirement age still don't have a formal succession plan in place.
A spokesperson for the estate planning fintech cited AI's reshaping of the industry as Trust & Will restructures its business.
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
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