Pontera, Envestnet Collab on 401(k) Billing

Pontera is partnering with Envestnet’s BillFin solution, in an effort to make 401(k) account billing more efficient and seamless for financial advisors.

BillFin aims to modernize how advisors and planners bill their clients by enabling advisors to calculate fees, create invoices, and calculate payouts for fee splitting. The platform offers billing setup, standardized billing templates, user experiences and more.

“By adding BillFin capabilities, we’re empowering financial advisors to deliver even greater value and a more comprehensive wealth management service to their clients,” said David Goldman, chief business officer at Pontera. “Pontera’s growing technology partner community enables us to meet advisors where they live by linking our secure 401(k) management platform with the technology tools they’re already using, helping them deliver the best possible client experience.”

More than 74% of Americans would like professional help managing their workplace retirement accounts, according to the Pontera 401(k) Literacy Survey, which polled more than 2,000 U.S. plan participants, half of whom also work with a financial advisor. The study found advised participants are more knowledgeable, more confident about their future in retirement and contribute more to their accounts.

The Pontera platform delivers data security certified under SOC 2 Type II and ISO 27001 standards. Pontera prohibits advisors from gaining access to clients’ login credentials and retirement plan providers’ websites. Advisors using the platform cannot order disbursements, make transfers, change beneficiaries or contributions.