Pontera is launching a new non-discretionary option for financial advisors to guide their clients on 401(k) allocations. This new functionality provides advisors with visibility into held-away retirement accounts, allowing them to recommend specific actions that align with the client’s broader financial objectives. The tool is designed to work alongside the firm's existing discretionary offerings, which permit advisors to manage assets directly with client consent.
Under this new model, the advisor does not gain direct control over the client's account. They cannot execute trades, withdraw funds, or change beneficiary settings on their own. Instead, the platform provides guided workflows that allow the plan participant to approve and implement the recommendations provided by the advisor. This addition gives advisors another way to interact with clients who prefer to maintain control over their retirement savings while still receiving professional oversight.
The company stated that this development is a response to advisor and client demand for more varied service models. While some clients want their advisor to handle every portfolio decision, others wish to stay involved in the process. Pontera aims to build the underlying technology that supports both preferences, ensuring that advisors can assist clients across a wide spectrum of comfort levels and engagement styles.
This move follows ongoing industry discussions regarding account access and third-party credential sharing. While some industry analysts view this shift as a change in the company's approach to working with large record keepers, the firm maintains that the decision is purely focused on providing more options for how retirement savers receive advice. The new tool is scheduled to launch this September, with a waitlist now open for interested advisors.