Fast-growing RIA selects Pontera to strengthen its comprehensive management of client 401(k) and other held-away assets
NEW YORK, Oct. 31, 2023 /PRNewswire/ -- Pontera, the fintech company helping retirement savers receive professional 401(k) management from their trusted financial advisor, today announced a partnership with Wealthspire Advisors LLC, an NFP company and independent Registered Investment Adviser (RIA). With this collaboration, Wealthspire will leverage the Pontera platform to expand its 401(k) management capabilities, helping more clients optimize their full financial lives.
Wealthspire has a national footprint with 22 locations across 12 states and oversees approximately $20.5 billion in assets under management* across its entities. Leveraging Pontera, the firm can now rebalance retirement plan accounts in a single interface without ever handling client credentials.
"We have always seen retirement plan assets as an integral part of our clients' financial futures," said Mike LaMena, Wealthspire's CEO. "As we continue to grow, so does the complexity of our clients' needs. Our efforts to support varied retirement plan accounts and providers must align with those needs. The addition of Pontera to our back-office suite creates new efficiencies for us to serve more clients with holistic portfolio management."
Pontera's platform is SOC 2 Type II and ISO 27001 compliant and supports a number of operational improvements, including:
- Thorough account analysis and rebalancing in a unified view
- Automated target allocation drift analysis and notifications
- Full audit trails of all review and rebalance activities
- Reduced risk and complexity by eliminating client credential storage
- Streamlined household-level portfolio monitoring, reporting, and billing via Pontera's integration with Envestnet | Tamarac, Wealthspire's preferred portfolio management platform
"Wealthspire's passion for maximizing client value is evident in the robust capabilities they have already built to address 401(k) and other held-away assets," said Peter Nolan, Vice President, Enterprise at Pontera. "We are thrilled to partner on strengthening this area of Wealthspire's operations to enable advisors to deliver better retirement outcomes for clients."
Today, employer-sponsored plan accounts make up the largest portion of workers' retirement savings, and 45% of workplace savers use a financial advisor for retirement planning, according to BlackRock's 2023 Read on Retirement. The study also reports a 21% year-over-year increase in preference to have a professional manage workplace plan accounts versus 2022.
Wealthspire Advisors was built upon the idea that clients deserve an advisor as motivated as they are to achieve their financial aspirations. To learn more, visit wealthspire.com. To learn more about how Pontera benefits retirement savers, visit pontera.com.
*AUM as of 9/30/2023 for Wealthspire Advisors LLC, Private Ocean, LLC, and ACG Advisory Services, LLC
Wealthspire Advisors is the common brand and trade name used by Wealthspire Advisors LLC, Private Ocean, LLC, and ACG Advisory Services, LLC, separately registered investment advisers and subsidiary companies of NFP Corp. © 2023 Wealthspire Advisors.
Pontera is a fintech company on a mission to help millions of Americans retire better by enabling financial advisors to manage, balance, and report on assets in held-away accounts, including 401(k)s, 403(b)s, and more. The platform is designed to work across many account types and seamlessly integrate with existing portfolio management tools to help advisors improve their clients' financial outcomes. Founded in 2012, Pontera is headquartered in New York City. Learn more at pontera.com.
Wealthspire Advisors is an independent registered investment advisor that oversees, across its entities, 22 offices in 12 states throughout the Northeast, Atlantic, Midwest, and West Coast. We are fiduciary advisors who value connecting all parts of a client's financial life to deliver thoughtful, collaborative strategies that optimize their finances and fulfill their aspirations. Wealthspire Advisors acts as a wealth manager, investment advisor, consultant, and constant partner in helping clients gain confidence in their financial futures. For more information on Wealthspire Advisors, please visit www.wealthspire.com.