Fintech company Pontera, formerly known as FeeX, is partnering with RFG Advisory, a hybrid Registered Investment Advisory firm, to enable their independent financial advisors to securely manage clients’ held away accounts, including 401ks, 403bs, HSAs, and more.
“Held away accounts including 401ks make up a significant portion of Americans’ retirement savings, and contributions are increasing. The total value of defined contribution accounts in the United States reached a record high of $11 trillion in 2021,” said Pontera Chief Business Officer David Goldman. “Consequently, the need and demand for management of these accounts is greater than ever, and Pontera is proud to provide a solution. We are excited to partner with RFG Advisory to support their mission to provide a higher level of personal service to clients by enabling their advisors to securely manage and trade clients’ retirement accounts.”
In a 2021 retirement insights survey, J.P. Morgan found that 62% of individuals wish they could completely hand over retirement planning to an expert. Because retirement assets are held off of their financial advisor’s custody platform, or “held away,” managing them has been challenging historically, limiting the ability of financial advisors to give clients the help they need.
“RFG is always looking to expand and enhance our robust suite of client offerings. We use the most advanced technology to enhance the personalized service our clients receive,” said Shannon Spotswood, President of RFG Advisory. “Our partnership with Pontera will enable RFG advisors to securely manage clients’ retirement accounts as part of a holistic and comprehensive wealth management plan.”
RFG Advisory delivers a turn-key integrated platform that provides Advisors all the tools and resources they need to be the CEO of their practice, not the COO, including turn-key technology, institutional-caliber investment management, marketing, compliance, business consulting and operational support. Focused on amplifying independence, Advisors who affiliate with RFG Advisory maintain all of the equity in their business and pay a basis point fee for access to RFG’s investment and technology platform.
SEE ALSO:
• 401k Fintech Firm FeeX Gets Major Capital Infusion, Changes Name
• New Partnership Helps Advisors Manage ‘Held-Away’ 401ks
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.
