Pontera Adds Summit Financial to 401(k) Management Platform

Pontera, a fintech firm that connects financial advisors with clients’ retirement saving accounts, has formed a strategic partnership with registered investment advisory firm Summit Financial LLC.

Parsippany, NJ-based Summit, which oversees $9 billion in client assets, will use Pontera’s technology to gain access to view and manage client 401(k) and 403(b) accounts alongside their other assets.

Pontera’s platform will enable Summit advisors to offer clients a holistic view of their portfolio, according to the firm. Advisors can help grow clients’ wealth by analyzing, rebalancing, and monitoring held-away accounts, accounts that are not actively managed by an advisor or custodian affiliated with the advisor’s financial institution, as part of their investment strategies.

The platform integrates with Addepar to facilitate performance reporting and billing, providing clients with increased clarity into their finances.

“At our core, Summit is hyper-focused on empowering growth for our advisors and their clients,” Stan Gregor, CEO of Summit Financial Holdings, said. “The addition of Pontera to our comprehensive suite of digital tools will enrich both client experiences and outcomes with comprehensive held-away account management.”

Pontera has been steadily signing agreements with advisory firms for its services, including SageView Advisory Group and Founders Financial Securities LLC, as it capitalizes on the trend toward advisors providing more holistic wealth management that includes retirement savings plans, as well as other investments and holdings.

Pontera, which was formed in 2012, connects RIAs, broker/dealers, and financial institutions with workplace retirement assets. According to the firm’s website, the platform considers retirement assets in investment planning, can rebalance or change investments in plans, and modifies portfolios to strengthen compliance needs.