Pontera Announces Partnership with Commonwealth Financial Network to Help Its Advisors Better Manage Clients' Wealth

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Jan 17, 2024, 08:53 ET

NEW YORK, Jan. 17, 2024 /PRNewswire/ -- Pontera, the fintech company helping retirement savers receive professional 401(k) management from their trusted financial advisor, announces it has signed an agreement with Commonwealth Financial Network® ("Commonwealth"), a national firm dedicated to providing financial advisors with holistic, integrated business solutions. Through this partnership, Commonwealth's affiliated advisors can seamlessly and securely manage clients' retirement plan assets via Pontera, further enhancing their ability to support their clients' long-term financial planning goals.

"Pontera's innovative solution enables Commonwealth's investment advisors to serve the needs of their clients as holistic wealth managers. We're excited to build out this partnership to support advisors who make an even greater impact on their clients' financial well-being," said Karen McColl, Senior Vice President of Wealth Management at Commonwealth. McColl added, "By leveraging Pontera's platform, advisors can integrate retirement assets efficiently and effectively into the financial planning process, elevating their ability to deliver comprehensive services for their clients."

This milestone marks Pontera's largest publicly-announced agreement with a national Registered Investment Adviser firm. Commonwealth reports the highest gross revenue per advisor among independent broker/dealers (as reported by Financial Advisor, April 2023).

"We are thrilled about this partnership with Commonwealth, a real titan in the wealth management industry," said David Goldman, Chief Business Officer of Pontera. "It became clear early in our engagement that Commonwealth's advisor dedication and support are unparalleled. We look forward to equipping Commonwealth advisors with the tools to integrate 401(k) and 403(b) assets into custom financial strategies for their clients. This comprehensive approach is vital to creating superior financial outcomes for retirement savers."

The median American family holds the majority of their net worth in workplace retirement plan accounts. In addition to enabling advisors to analyze and rebalance these accounts, Pontera's SOC 2 Type II and ISO 27001-certified platform offers insights and efficiencies including fund menu change alerts, target allocation drift alerts, historical fund performance tracking and automatic supervision documentation.

This partnership follows Pontera's announcement of its latest funding round led by ICONIQ Growth, the venture capital firm that also backed Zoom, Uber, Airbnb and more. The investment reinforces Pontera's commitment to helping US workers retire better through its national footprint of partnerships with leading financial firms.

To learn more about Pontera, visit pontera.com.

About Pontera

Pontera is a fintech company on a mission to help millions of Americans retire better by enabling financial advisors to analyze, rebalance, and report on workplace retirement account assets, including 401(k)s, 403(b)s and more. The platform is designed to work across the vast majority of retirement plans and seamlessly integrate with existing portfolio management tools to help advisors improve their clients' financial outcomes. Founded in 2012, Pontera is headquartered in New York City. Learn more at pontera.com.

About Commonwealth Financial Network^®

Commonwealth Financial Network, Member FINRA/SIPC, a Registered Investment Adviser, provides financial advisors with holistic, integrated solutions that support business evolution, growth acceleration, and operational efficiency. J.D. Power ranks Commonwealth "#1 in Independent Advisor Satisfaction Among Financial Investment Firms, 10 Times in a Row." Privately held since 1979, the firm has headquarters in Waltham, Massachusetts, and San Diego, California. Learn more about how Commonwealth partners with more than 2,100 independent financial advisors overseeing more than $242.9 billion* in assets nationwide by visiting www.commonwealth.com.

Commonwealth received the highest score among independent advisors in the J.D. Power 2010, 2012, 2013, 2014, and 2018‒2023 U.S. Financial Advisor Satisfaction Studies. Presented on July 5, 2023, for December 2022 to April 2023, it is based on responses from 4,183 advisors employed by or affiliated with the firms included in the study. Not indicative of the firm's future performance. Your experience may vary. Study is independently conducted, and the participating firms do not pay to participate. Use of study results in promotional materials is subject to a license fee. Visit jdpower.com/awards for more details.

*As of 12/31/22

SOURCE Pontera