PONTERA FOR RETIREMENT PLAN ADVISORS
Champion choice and expand your impact
A holistic approach is the new modern. Retirement plan advisors play a pivotal role at the intersection of wealth and retirement and are central to providing guidance on plan design, ensuring compliance and maintaining fiduciary oversight.
Enabling premium account management services
In a survey conducted by J.P. Morgan, 60% of participants in defined contribution plans wish they could completely hand over retirement planning to an advisor.1 Pontera enables wealth advisors chosen by the participants to securely oversee and reallocate 401(k)s for personalized and holistic guidance. By working with Pontera, advisory firms can provide a path to premium account oversight services for participants who need it.
Giving wealth advisory departments an edge
Financial firms with both plan and wealth advisory departments recognize how this comprehensive approach leads to higher customer satisfaction and retention. Why not empower your wealth managers with the ability to advise on plan accounts? It can have a big impact; studies show retirement accounts can grow up to 75% larger over 20 years when professionally managed by financial advisors.2
Adding more value into plan sponsor proposals
Retirement Plan Advisor expertise is critical in maximizing value for sponsors and their participants with plan lineups, fund access, and more. Another important value driver is participant support. A customized and comprehensive in-plan wealth offering can be a significant value add to employees who may not be a fit for target date funds or AMA offerings.
Protect participant security
Providing in-plan advice can be an area of security and ERISA compliance concern. For years, financial advisors have directly accessed client 401(k) accounts via the recordkeeper's website to provide comprehensive management services. Without proper safeguards like Pontera,this practice posed potential cybersecurity risk to participants, advisors, and recordkeepers. Retirement plan advisors can support wealth managers in applying secure practices with Pontera which improves such processes by offering a protective barrier to the client's account and an auditable transaction tracker. The Pontera platform uses bank-level encryption, is SOC 2 certified by EY, is subject to regular penetration testing, and restricts advisor actions to investment management without ability to withdraw funds, change beneficiaries or otherwise divert any funds.
