In its most recent collaboration, fintech company Pontera is partnering with Commonwealth Financial Network to provide retirement management services to financial advisors.
The New York-based software platform allows personal financial advisors to manage and trade clients’ workplace retirement accounts, including 401(k) and 403(b) plans. Commonwealth Financial Network, a registered investment advisor (RIA), hosts more than 2,100 independent financial advisors with over $242.9 billion in assets nationwide.
In addition to retirement plan management, Pontera’s SOC 2 Type II and ISO 27001-certified platform includes fund menu change alerts, target allocation drift alerts, fund performance tracking and automatic supervision documentation.
“Pontera’s innovative solution enables Commonwealth’s investment advisors to serve the needs of their clients as holistic wealth managers. We’re excited to build out this partnership to support advisors who make an even greater impact on their clients’ financial well-being,” said Karen McColl, senior vice president of Wealth Management at Commonwealth, in a statement announcing the partnership. “By leveraging Pontera’s platform, advisors can integrate retirement assets efficiently and effectively into the financial planning process, elevating their ability to deliver comprehensive services for their clients.”
“It became clear early in our engagement that Commonwealth’s advisor dedication and support are unparalleled,” added David Goldman, chief business officer of Pontera. “We look forward to equipping Commonwealth advisors with the tools to integrate 401(k) and 403(b) assets into custom financial strategies for their clients. This comprehensive approach is vital to creating superior financial outcomes for retirement savers.”
The partnership follows Pontera’s announcement of its latest funding round led by ICONIQ Growth, the venture capital firm that also backed Zoom, Uber, Airbnb and more.
Commonwealth is the latest firm to partner with Pontera. In 2023, the fintech company announced collaborations in 401(k) management support with wealth manager Lion Street, RIA and independent broker-dealer Founders Financial, Summit Financial, and OneDigital.
SEE ALSO:
- Pontera Brings 401(k) Management Support to Lion Street
- Founders Financial, Pontera Partner to Help Advisors Manage Held-Away 401(k)s
- Summit Financial is Latest Strategic Partner for Pontera
Amanda Umpierrez is the Managing Editor of 401(k) Specialist magazine. She is a financial services reporter with over six years of experience and a passion for telling stories and reporting news. Amanda received her degree in journalism and government and politics at St. John’s University. She is originally from Queens, New York, but now resides in Denver, Colorado with her partner. In her free time, Amanda enjoys running, cooking, and watching the latest drama show.
