OneDigital announced today that it has partnered with fintech company Pontera, enabling OneDigital Investment Adviser representatives to more effectively manage plan participant accounts as part of their cohesive, goals-based investment strategies for clients.
“At OneDigital, we are committed to offering wealth management for everyone,” said Vince Morris, President of Retirement and Wealth at OneDigital. “Pontera is a strategic step forward to enable our advisors to better serve the financial needs of working Americans.”
The partnership comes at a time when more Americans are looking for help with the management of their retirement savings amid market volatility and inflationary pressures. Researchers have recently found that upwards of 40% of employees cash out their 401(k) when leaving a job, even when it is detrimental to the accumulation of their savings.
“We are excited to be a part of OneDigital’s balanced approach to providing financial freedom to individuals,” said David Goldman, Chief Business Officer of Pontera. “In addition to having investment assistance options such as target date funds and managed services, participants can also seek more bespoke in-plan management with OneDigital and their advisors.”
Using Pontera’s solution, OneDigital wealth managers will be able to gain deep insights into each of their client’s retirement accounts to make informed rebalancing decisions while retaining assets in-plan.
“Advisors must be able to present a comprehensive plan that delivers the best solution for their clients,” said Andrew Jefferys, National Vice President, Wealth Management Solutions for OneDigital. “This is extremely difficult to do without incorporating all of the client’s retirement assets. Partnering with Pontera will provide our advisors with the tools necessary to help their clients achieve their personalized goals and objectives.”
Pontera has been working lately to expand its national footprint. This year alone, the New York-based fintech company has enabled advisors at Benjamin F. Edwards and Lion Street, and those using the Envestnet and AssetBook platforms to securely manage, trade and report on their clients’ held-away accounts, including 401(k)s, 403(b)s, and more.
Originally founded in 2000, OneDigital Investment Advisors LLC provides over 100,000 employers with insurance, financial services and human resources consulting advisory. With the acquisition of Resources Investment Advisors in 2020, OneDigital expanded into retirement and wealth and now manages $120 billion in Total Assets Serviced.
SEE ALSO:
• OneDigital Acquires Huntington 401(k) Advisory and Retirement Plan Servicing Business
• Pontera Brings 401(k) Management Support to Lion Street
Veteran financial services industry journalist Brian Anderson joined 401(k) Specialist as Managing Editor in January 2019. He has led editorial content for a variety of well-known properties including Insurance Forums, Life Insurance Selling, National Underwriter Life & Health, and Senior Market Advisor. He has always maintained a focus on providing readers with timely, useful information intended to help them build their business.
