Pontera exists to help Americans retire with confidence
We do this by empowering advisors to manage their clients’ 401(k)s. The median American family with retirement accounts has half their net worth in those accounts, so professional guidance is critical. Without advice, many investors may fall short of their retirement goals.
Prior to Pontera, advisors lacked robust solutions to advise on clients’ 401(k)s. They’d either leave those unmanaged, give ad-hoc advice, or take client passwords and log in to their accounts – none of these are auditable, and some may leave clients unprepared for retirement. Pontera solves this problem with a purpose-built platform that keeps clients secure, and prevents advisors from accessing client passwords, accounts, or funds.
I joined Pontera after a decade advocating for retirement policy and consumers’ financial rights in D.C. I see a tremendous opportunity for innovative tools like Pontera to help retirement savers in America.
I’ve been on the road engaging with state regulators for the past year. Recently, we learned that some advisory firms received notices from state regulators regarding platforms used in connection with held-away accounts. If you’re a Pontera client and received one of these notices, we want to help clarify what it means — and how Pontera fits into the picture.
First, What This Notice Is — and What It’s Not
It’s important to understand that this notice is not an enforcement action. It doesn’t claim that using platforms like Pontera violates state rules. Rather, it encourages advisors to conduct due diligence on how vendors help maintain compliance. That’s a responsible step — and one we’re happy to support.
While Pontera does not provide legal advice, we’re committed to transparency and are always available to assist you or your compliance professionals with any information needed to complete that diligence.
We continue to work independently and with groups like FDATA that represent fintech companies to educate regulators about how platforms like Pontera operate. In that spirit, we want to offer additional clarity on a few specific areas raised in the notice:
Pontera has industry-leading privacy and cybersecurity to keep consumers safe and secure
Pontera is built on the principle that advisors need secure, client-authorized insight into held-away account information to best serve their clients. Here’s how we deliver that:
- We use similar technology as fintech tools 8 in 10 Americans use to manage their money. If you’ve paid the babysitter, built a budget, managed a small business, or filed taxes using software, you’ve likely connected your account to a fintech tool like ours.
- Platforms like Pontera do not interfere with BSA/AML obligations. Banks and other financial institutions have sophisticated monitoring to identify suspicious activity and differentiate it from legitimate activity of customers and their authorized delegates. Given Pontera’s limited functionality (advisors can’t withdraw or move funds), it’s unclear how the platform could be used to launder money.
- We adhere to industry-leading security and privacy standards, including SOC 2 certification and CCPA compliance. You can view full details at security.pontera.com.
- Over 100 million Americans use data aggregation tools — and federal regulators have recently finalized Personal Financial Data Rights rules supporting safe, user-permissioned sharing.
- Pontera only collects information necessary for advisors to provide services. We do not collect time horizon, risk tolerance, net worth, or other sensitive investment profile data from client accounts.
- We provide a Client Protection Guarantee to safeguard investors who connect their accounts through our platform.
Advisors can’t access client funds via Pontera
Pontera is purpose-built to support fiduciary obligations — without exposing advisors or clients to custody risks:
- Advisors do not access client accounts or credentials. They only interact with the Pontera platform.
- No authority exists to move or withdraw funds. Pontera’s limited power of attorney does not permit distributions, transfers, or changes of contributions or beneficiaries. Advisors can only view and rebalance.
- You do not have general power of attorney, nor do we add advisors as authorized users on client accounts.
Unlike some platforms that might mirror or copy credentials or modify access rights, Pontera does not do any of those things. Our model is built to keep clients secure and aligned with account protections.
Advisors provide value when supporting clients’ holistic needs
Pontera does not determine the fees you charge your clients. Our platform is a tool to support your ability to deliver advice and value — especially in the often-overlooked realm of held-away retirement assets.
Engaging Proactively With Regulators
In 2024, Pontera launched a state regulatory roadshow to educate regulators across the country about how our platform works — and how it’s helping advisors improve outcomes for retirement savers. We’ve continued those conversations into 2025, and we’re encouraged by regulators’ willingness to learn.
We believe deeply in transparency and dialogue. Retirement security is too important to leave misunderstood, and we’ll continue engaging in good faith to clear up confusion and reinforce how Pontera protects clients and supports advisors.
Need Support? We’re Here.
If you or your compliance team have any questions, please don’t hesitate to reach out. We’re here to help you navigate diligence processes and continue delivering exceptional service to your clients.
— Ben White
Director of Public Policy, Pontera
