Fintech provider Pontera has announced the hiring of three leaders with nearly 70 years combined experience in the defined contribution (DC) plan industry to oversee a new DC Partnerships Team.
The firm revealed that Jerry Bonnabeau will join the firm as its Head of DC Partnerships, a new role, in which he will lead Todd Stablewski, Director, DC Partnerships; and Kevin Amoruso, Director, DC Strategic Relationships.
Pontera, which recently joined the National Association of Plan Advisors, announced the hires during NAPA's annual 401(k) Summit in Nashville, Tenn., which Bonnabeau and Amoruso attended alongside other Pontera executives.
"We're confident that by forging stronger relationships with recordkeepers, Pontera can help more retirement savers pursue better outcomes by turning 401(k) management over to their own personal advisor and receiving holistic financial advice," stated Pontera Chief Business Officer David Goldman in announcing the new hires.
Prior to joining Pontera, Bonnabeau was Chief Growth Officer at Atlas Point, a firm that uses behavioral science to help advisors with client conversations. He previously held leadership positions at Edelman Financial Engines for 16 years, as well as at Putnam Investments and RobustWealth.
Stablewski joins Pontera from Voya Financial, where he was Vice President, Investment Product Partners. Before that, he served in similar roles at MassMutual Financial Group, Mercer, and Fidelity Investments over the course of 25 years.
Amoruso, meanwhile, spent nearly 14 years at Principal Financial Group, where he managed relationships with the DC divisions of the industry's largest retirement plan advisors and broker dealers.
Pontera notes that these team additions come as the DC plan business continues to evolve, with sponsors starting to broaden the spectrum of guidance solutions they offer. Citing a recent Cerulli Associates report, the firm noted that as the needs of participants shift, plan sponsors recognize many workers could benefit from more personalized guidance.
"We're excited to join Pontera's mission to enable more retirement savers to get holistic investment guidance incorporating their full portfolio," said Bonnabeau. "Studies show professionally managed portfolios can generate significantly higher returns than self-managed accounts, and with 40% of retirement income generated from their 401(k)s, Americans increasingly want these accounts integrated with their overall financial plan."
What’s more, a recent J.P. Morgan Asset Management survey of DC plan participants found that 62% wish they could turn management of their retirement accounts over to a professional, while 52% say they are overwhelmed by plan information. Two-thirds of respondents said employers should provide access to financial professionals and coaching.
Founded in 2012, Pontera’s platform enables recordkeepers and plan sponsors to offer participants access to personalized 401(k) management from their financial advisor. Over the past few years, the firm has announced partnerships with various investment advisory and broker-dealer firms, including CAPTRUST, SageView Advisors, and OneDigital.
