Savant Partners with Fintech Firm to Manage Retirement Accounts

Pontera, a fintech business that connects financial advisors with customers’ retirement savings accounts such as 401(k)s and 403(b)s, has collaborated with Savant Wealth Management, a Rockford, IL-based registered investment advisor with over $20 billion in assets.

It is the latest partnership for New York City-based Pontera, which also includes SageView Advisory Group and financial services firms Morningstar Inc. and Envestnet. The partnership provides Savant’s advisors with an easier approach to manage a client’s in-plan investments alongside the rest of their assets.

Savant uses Envestnet Tamarac as its portfolio management platform, and thanks to its integration with Pontera early this year, it will be able to run performance reporting on the platform.

Savant has been offering outside asset management as part of its full service, but the new collaboration will avoid significant investments in security and compliance while delivering more capabilities to its advisors. Savant now manages approximately $300 million in held-away assets.

“The Pontera platform brings to bear significant operational improvements in analyzing and rebalancing held-away accounts, paving the way for investment teams to grow this essential service and cater to more clients,” said Savant CEO Brent Brodeski.

Backed by private equity firms Kelso & Company and The Cynosure Group, the announcement comes on the heels of Savant’s seventh acquisition this year, including Basil Financial Group, Paragon Financial Advisors, and Raymond F. Book’s tax and RIA businesses.