Corporate Roundup: Pontera, 401GO Partnership, Vestwell and Commonwealth Expand Collaboration
This week corporate roundup, Pontera and 401GO announce a new partnership on personalized 401(k) account management to clients, Vestwell expands its collaboration with Commonwealth Financial to include PEPs, Marcia Wagner of the Wagner Law Group joins industry-leading organizations, and more.
Pontera and 401GO Partner on Personalized 401(k) Management
Pontera has announced a strategic partnership with 401GO regarding personalized 401(k) account management to clients.
The agreement marks Pontera’s first recordkeeper integration that lets advisors debit directly for their services from the retirement plan accounts they are managing. The new feature will allow retirement savers to pay their advisors’ management fees directly from their 401(k) accounts.
“Enabling personalized 401(k) account management through Pontera provides plan participants more choice in how they receive in-plan help, complementing target-date funds, managed accounts and other solutions,” said Jerry Bonnabeau, head of Defined Contribution Partnerships at Pontera. “Our secure platform helps clients with more complex financial management needs receive a higher, more comprehensive level of service from their trusted advisor and optimize the growth of their retirement savings.”
Pontera says the feature aligns its platform with other in-plan assistance for participants, such as target-date funds (TDFs) and managed accounts.
Financial advisors using the 401GO recordkeeper platform will be able to extend their services to more households when they can also manage account assets in workplace accounts.
“Pontera shares 401GO’s vision for reshaping the retirement industry through technology, making 401(k)s more inclusive, approachable and affordable,” said Daniel Beck, 401GO co-founder and chief executive. ” By working with Pontera, we can help more advisors offer 401(k) management efficiently, at scale, as a core service to more clients.”
Vestwell and Commonwealth Partnership Moves to PEPs
Vestwell is expanding its partnership with Commonwealth Financial Network to launch a new pooled employer plan (PEP).
The Gateway 401(k) Plan will be available exclusively through Commonwealth’s affiliated advisors and will feature administrative and compliance capabilities provided by FuturePlan.
Through the existing partnership, Vestwell provides recordkeeping and third-party administrator (TPA) services for individual business clients of Commonwealth advisors. The result is a powerful, innovative savings solution for Commonwealth advisor’s workplace clients.
“Commonwealth is a key partner of ours, and we’re excited to offer their advisors the Gateway 401(k) Plan solution,” said Aaron Schumm, founder and CEO of Vestwell. “We spent a lot of time collaborating on this PEP solution, so it is exciting to bring this to life with a great partner like Commonwealth to scale their advisor’s businesses while generating more opportunities for everyone to access retirement savings programs.”
“We’re seeing increased demand from our affiliated advisors and their clients for retirement plan solutions with streamlined processes that reduce administrative burdens to make workplace retirement saving solutions more accessible,” said Mat Powers, vice president of Strategic Retirement Solutions at Commonwealth. “Vestwell’s advanced technology ensures our advisors can evolve, scale, and expand their practices while delivering optimal solutions to clients.”
Vestwell will serve as the pooled plan provider (PPP), handling recordkeeping, payroll processing, and administration for the Gateway 401(k) Plan, and will be supported by FuturePlan’s compliance, testing, and plan design services. Commonwealth will provide its investment management services as the 3(38)-fiduciary of the Gateway 401k Plan.
Marcia Wagner Joins Americans Benefits Council and the ACEBC
The Wagner Law Group announced that its Founder and Managing Director Marcia Wagner has accepted two appointments in leading employee benefits organizations.
Wagner will serve as Advisory Council to the Policy Board of Directors for the American Benefits Council and to the Board of Governors of the American College of Employee Benefits Counsel (ACEBC).
The American Benefits Council is a Washington, D.C.-based employee benefits public policy organization that advocates on behalf of employees who are dedicated to benefit programs designed to protect and encourage the health and financial wellbeing of employees, retirees, and families. The Council works with Congress, the White House, executive-branch agencies, and court systems on legislation, regulation, and legal rulings.
The ACEBC is an invitation-only organization of employee benefits lawyers dedicating to strengthening and advancing the public’s understanding of the practice of employee benefits law. The Wagner Law Group currently has nine Fellows at the ACEBC.
LL Global Names New Board Chairs
LL Global, the parent company of LIMRA and LOMA, announced Caroline Feeney, executive vice president and CEO of U.S. Businesses at Prudential Financial, Inc., will serve as board chair in 2025. She succeeds Adrian Griggs of Pacific Life Insurance Company.
Chris Blunt, chief executive officer at F&G, was elected vice chair for 2025 and will succeed Feeney as chair in 2026.
“In a time where customer and client needs, preferences and challenges, are rapidly evolving, there is no question that the power and leadership of our industry is needed now more than ever before. LIMRA and LOMA continue to serve as an important industry convener with invaluable insights, peer-networking, and industry-led shared solutions,” said Feeney. “I am truly honored to continue this impactful work and to support the leadership team’s execution of the Compass 2025 five-year strategy.”
LL Global also named four new directors to the board:
- Marc-Andre Giguere, president and chief executive officer, Munich Re Life U.S.
- Bob Jurgensmeier, chief executive officer, Ameritas
- Jerry Lyphout, president and chief executive officer, Modern Woodmen of America
- Virgil Miller, president, Aflac U.S.
“Caroline and Chris are extraordinary leaders who have been strong advocates for our organization. At a time of great industry transformation, we will benefit from their leadership. We are also excited to welcome the four well-respected industry leaders who will help guide our association in the coming years,” said David Levenson, president and CEO, LIMRA and LOMA. “Under the board’s stewardship, our leadership team will work to shape the future of our organization so we can best serve our members and the industry.”
The LL Global board provides oversight and guidance to ensure LIMRA and LOMA’s strategic direction continues to meet the changing needs of member companies.
Fidelity Unveils Updated Cyber Protocols
Fidelity Investments announced last week new aims to bolster cybersecurity practices.
The company revealed it would begin taking steps to prevent platforms reliant on credential sharing from accessing and taking action in customer accounts held at Fidelity. The firm says this change was made with customers’ best interests and will be added to enhance security and reduce customer data exposure.
Fidelity announced the move in its release after explaining its suspicion behind credential sharing. “Some third-party fintech firms use credential sharing, like username and passwords, to access, manage, and trade within their clients’ employer-sponsored retirement accounts, including those held at the company, without plan sponsor oversight. Credential sharing presents security risks to our customers, particularly when it enables third parties to take high-risk actions, such as executing trades within the accounts.”
The firm says it anticipates the changes to be minimally disruptive to participants. While participants’ login experience will remain unchanged, Fidelity adds they may need to communicate with any outside advisor with whom they work with to ensure account transactions are managed. Intended given accounts may no longer be accessible by advisors via certain third-party platforms as the firm begins this transition, Fidelity notes.