Through this partnership, Commonwealth’s affiliated advisors can seamlessly and securely manage clients’ retirement plan assets via Pontera, further enhancing their ability to support their clients’ long-term financial planning goals.
Pontera, the fintech company helping retirement savers receive professional 401(k) management from their trusted financial advisor, announces it has signed an agreement with Commonwealth Financial Network (“Commonwealth”), a national firm dedicated to providing financial advisors with holistic, integrated business solutions. Through this partnership, Commonwealth’s affiliated advisors can seamlessly and securely manage clients’ retirement plan assets via Pontera, further enhancing their ability to support their clients’ long-term financial planning goals.
“Pontera’s innovative solution enables Commonwealth’s investment advisors to serve the needs of their clients as holistic wealth managers. We’re excited to build out this partnership to support advisors who make an even greater impact on their clients’ financial well-being,” said Karen McColl, Senior Vice President of Wealth Management at Commonwealth. McColl added, “By leveraging Pontera’s platform, advisors can integrate retirement assets efficiently and effectively into the financial planning process, elevating their ability to deliver comprehensive services for their clients.”
This milestone marks Pontera’s largest publicly-announced agreement with a national Registered Investment Adviser firm. Commonwealth reports the highest gross revenue per advisor among independent broker/dealers (as reported by Financial Advisor, April 2023).
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“We are thrilled about this partnership with Commonwealth, a real titan in the wealth management industry,” said David Goldman, Chief Business Officer of Pontera. “It became clear early in our engagement that Commonwealth’s advisor dedication and support are unparalleled. We look forward to equipping Commonwealth advisors with the tools to integrate 401(k) and 403(b) assets into custom financial strategies for their clients. This comprehensive approach is vital to creating superior financial outcomes for retirement savers.”
The median American family holds the majority of their net worth in workplace retirement plan accounts. In addition to enabling advisors to analyze and rebalance these accounts, Pontera’s SOC 2 Type II and ISO 27001-certified platform offers insights and efficiencies including fund menu change alerts, target allocation drift alerts, historical fund performance tracking and automatic supervision documentation.
This partnership follows Pontera’s announcement of its latest funding round led by ICONIQ Growth, the venture capital firm that also backed Zoom, Uber, Airbnb and more. The investment reinforces Pontera’s commitment to helping US workers retire better through its national footprint of partnerships with leading financial firms.
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