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Fintech Friday: How to Deal with a 401(k) that’s ‘Held Away’

Future Focus

There are fewer greater frustrations than developing a financial plan only to exclude held-away assets that can materially and significantly change the advisor’s recommendations (if they’re even discovered).

Too often, the client’s 401(k) is just such an asset, something a new strategic partnership aims to do something about.

Pontera, a fintech company that happens to connect advisors to their clients’ 401(k)s for better management and monitoring of retirement accounts that are held away, will team with Founders Financial Securities, a privately-owned RIA and independent broker-dealer.

According to the companies, the collaboration will enable Founders'-affiliated advisors to better serve retirement savers “with professional 401(k) management as part of their comprehensive approach to growing wealth.”

Formed in 1994, Founders Financial manages $4 billion in assets for client relationships. With Pontera, advisors can manage held-away retirement assets as part of “the full financial picture of their client relationships.”

“This partnership is a testament to our commitment to serving both our Member Partners and their relationships,” Brad Shepherd, Chief Executive Officer of Founders Financial, said in a statement. “We take a very thorough approach to vetting technology partners and believe Pontera will help our community of advisors create even better experiences and outcomes for their client relationships.”

Citing Federal Reserve and J.P. Morgan Asset Management data, Founders said the median American family holds the majority of their assets in retirement funds, and over 60% of investors want more help with these accounts.

Using Pontera, Founders’ advisors can monitor and rebalance held-away retirement assets. Pontera also integrates with the Founders technology stack, which includes Orion Advisor Solutions, for portfolio performance reporting, planning, and portals, allowing advisors to review the totality of their client’s wealth.

“We’re proud to partner with Founders Financial to help its Member Partners apply the same level of premium service to all their clients’ assets,” Peter Nolan, Vice President of Enterprise at Pontera, concluded. “This level of service is key to growing confidence among clients as advisors scale their practice. We look forward to working with Founders’ Member Partners to provide superior client outcomes while growing firmwide AUM.”