Financial technology company Pontera, formerly known as FeeX, has announced that it has formed a partnership with Mutual Group that enables financial advisers to manage and trade their clients’ retirement accounts securely and compliantly.
Held away accounts, including 401(k)s, 403(b)s and more, have historically been difficult for advisers to manage due to a variety of compliance, custody and operational challenges. Through the partnership with Pontera, advisers affiliated with Mutual Group can now provide their clients with truly holistic wealth management by trading, managing and reporting on their clients’ held away accounts as part of their overall portfolio.
“Mutual Group has always embraced new technology to help investors benefit even more from the support of their advisers, and we are proud to be able to work together to expand their personalized service to include client retirement accounts,” says Dave Goldman, Pontera’s chief business officer. “It’s never been more important for financial advisers to help their clients get the most from their retirement assets. Today, fewer than 16% of private workers have access to a pension, which means that individuals are responsible for meeting their financial needs in retirement.”
As a SOC 2 certified platform, Pontera allows advisers to manage their clients’ retirement and held away accounts from a single, secure interface. This not only simplifies the adviser and client experience but can also potentially help advisers add value. Studies show that professional management of retirement accounts can amplify returns by 3% or more each year, net of fees.
“Mutual Group provides advisers with peace of mind and certainty to meet operational and technological obstacles, which have historically included managing retirement accounts. This partnership with Pontera will help our advisers meet this challenge to provide their clients with the best level of service,” says Aaron Jasper, Mutual Group CEO. “Held away accounts, including 401(k)s, make up a significant portion of Americans’ retirement savings and are critical to incorporate into a comprehensive wealth management plan.”