Chalk up another win for Pontera in assisting advisors in managing clients’ held-away assets, as the firm announced that CAPTRUST Financial Advisors will roll out its platform.
This is the second collaboration announced by Pontera in a matter of weeks, as the firm revealed in late January that it had forged a partnership with the Commonwealth Financial Network.
Founded in 2012, Pontera is a fintech company that helps retirement savers access professional 401(k) account management from their financial advisor. According to the announcement, the partnership will boost the ability of CAPTRUST financial advisors to deliver comprehensive wealth planning and investment advice across client accounts.
"CAPTRUST and Pontera are united in the belief that every investor can benefit from receiving personalized wealth management from a trusted and unbiased financial advisor," Eddie Welch, CAPTRUST's head of wealth management, said in a statement. "Through this partnership, Pontera's technology can help CAPTRUST advisors make their clients' money work even harder across all of their accounts, including their employer-sponsored retirement savings plans."
The firm’s services help individuals get the investment advice they need across all their financial holdings by providing advisors a “secure, client-permissioned” platform to manage 401(k)s, 403(b)s and other workplace retirement accounts. The platform is designed to work across many account types and seamlessly integrate with existing portfolio management tools.
For instance, in leveraging Pontera's platform, CAPTRUST advisors can now analyze their clients' fund options, review historical fund performance and set target-fund allocations in alignment with personalized tax and investment strategies. In addition, Pontera directly integrates with the industry's portfolio reporting, billing and other technology solutions to enable seamless account management, the announcement further explains.
"We're thrilled to work with CAPTRUST, a leading retirement plan advisor," stated David Goldman, Pontera's Chief Business Officer. "As CAPTRUST continues its ambitious expansion, we look forward to growing alongside them and helping more of their clients realize the benefits of holistic wealth management, including through the firm's suite of retirement plan participant services."
Pontera notes that the need for professional advice among retirement savers is reaching new heights, as the number of Americans feeling confident in their retirement fell to a 10-year low of 27% in 2023, citing data from EBRI’s 2023 Retirement Confidence Survey. The firm also notes that, according to a 2023 Gallup poll, nearly 6 in 10 (59%) retirees indicate that they rely on Social Security as a source of income, and yet Social Security benefits are expected to be depleted by as early as 2034.
CAPTRUST, meanwhile, continues to grow across the United States across its three business lines: wealth management, retirement plans, and endowments & foundations. With more than 1,500 employees across 90 locations nationwide, CAPTRUST oversees more than $817 billion in assets, including over $668 billion in non-discretionary assets under advisement, and over $149 billion in discretionary managed account assets, as of Sept. 30, 2023.
