Lion Street will enable its firms to trade, report, and bill on clients’ held-away accounts, in a new partnership with financial technology company Pontera.
A national broker-dealer with more than $18 billion in assets under administration, Lion Street’s 175 firms and financial advisors provide life insurance, wealth management and financial planning solutions. Using Pontera, Lion Street’s wealth managers will be able to analyze held-away account fund lineups, review performance and fees, and rebalance accounts.
To protect the client’s security, of which include doctors, lawyers, entrepreneurs, athletes, executives, and other high earning individuals, the Pontera platform is client permissioned, SOC 2 certified, provides an auditable trade blotter, and does not allow actions such as disbursements or beneficiary changes, according to a new release.
“Pontera’s technology provides a secure, compliant, and easy-to-implement path for Lion Street wealth managers to apply custom rebalancing strategies to held-away accounts to create better client outcomes,” said John Burmeister, president and CEO of Lion Street Financial.
“In addition to eliminating operational hurdles associated with held-away account management, we are looking forward to helping improve Lion Street’s client experience,” added Peter Nolan, vice president of Enterprise Business Development at Pontera. “Traditional methods of 401(k) management require the client to deliver plan paperwork and perform rebalancing tasks on their own. We know Lion Street’s clients are busy professionals who will benefit from the time savings and professional monitoring and management of their accounts.”
This partnership is the latest in a string of several collaborations by Pontera. In addition to its recently announced partnership with AssetBook just last week, the company also revealed collaborations with Sanctuary Wealth Partners and Envestnet last month.
SEE ALSO:
- Pontera and AssetBook Collaborate on Retirement Portfolio Management Support
- Sanctuary Wealth Partners with Pontera for Held-Away Accounts Support
- Pontera Integrates its 401(k) Management Capabilities into Envestnet’s Ecosystem
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.