Pontera and Oppenheimer partner to empower holistic wealth management that incorporates clients' 401(k)s

Rhea-AI Summary

Pontera and Oppenheimer (NYSE: OPY) have announced a strategic partnership to enhance wealth management services by incorporating 401(k) account management. Oppenheimer, a major U.S. broker-dealer with 928 financial advisors and $129.8 billion in assets under administration, will utilize Pontera's secure platform to manage clients' workplace retirement accounts. The platform is certified under SOC 2 Type II and ISO 27001 standards, protecting client data while integrating with advisors' portfolio management tools. This collaboration aims to provide more comprehensive investment management services and improve financial outcomes for retirement savers.

Positive

• Partnership with major broker-dealer having $129.8B in assets under administration
• Access to network of 928 financial advisors through Oppenheimer
• Platform certified under SOC 2 Type II and ISO 27001 standards

Negative

• None.

Top 10 U.S. broker-dealer will leverage Pontera's secure platform to manage workplace retirement accounts and help clients optimize their returns

NEW YORK, Nov. 14, 2024 /PRNewswire/ -- Pontera™, the fintech company helping retirement savers receive professional 401(k) account management from their trusted financial advisor, today announced a partnership with Oppenheimer & Co., Inc., a premier U.S. wealth management and investment banking firm.

Pontera, a fintech on a mission to help Americans retire better, has partnered with Oppenheimer, a top 10 US brokerage.

Oppenheimer, a unit of Oppenheimer Holdings (NYSE: OPY), was founded in 1881 and today is one of the largest U.S. broker-dealers with 928 financial advisors and $129.8 billion in assets under administration as of Sept. 30, 2024. Managing clients' 401(k) accounts allows financial advisors to provide holistic wealth management inclusive of a client's complete investment portfolio.

"We're thrilled to form a partnership with a company that has been serving its clients well for over a century," said David Goldman, Chief Business Officer, Pontera. "With Pontera, Oppenheimer advisors can offer their clients an even higher level of wealth management service that facilitates clear insights and coordination across all their investment accounts."

"We believe the Pontera platform gives our advisors greater clarity into their clients' full financial picture," said Bryan McKigney, President, Oppenheimer Asset Management. "By enhancing our technology stack for financial advisors, we continue to deliver a superior client experience helping them to implement their overall wealth management strategy."

Pontera offers an alternative to managing clients' workplace accounts that improves on traditional advisor approaches. Certified under rigorous SOC 2 Type II and ISO 27001 standards, Pontera serves as a secure layer that protects client data and prevents advisors from gaining access to their clients' 401(k)s. It is also integrated with advisors' top portfolio management, reporting and billing tools to make 401(k) management more seamless.

To learn more about Pontera, please visit www.pontera.com.

About Pontera

Pontera is a fintech company on a mission to help millions of Americans retire better by enabling their financial advisors to manage, balance, and report on clients' assets in 401(k)s, 403(b)s, and other workplace-sponsored accounts. Our secure, purpose-built platform, seamlessly integrated with advisors' portfolio management tools, is designed to work across many account types and help advisors deliver comprehensive investment management and improve financial outcomes. Founded in 2012, Pontera is headquartered in New York, N.Y. Learn more at www.pontera.com. 

About Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. (Oppenheimer), a principal subsidiary of Oppenheimer Holdings Inc. (OPY on the New York Stock Exchange), and its affiliates provide a full range of wealth management, securities brokerage and investment banking services to high net-worth individuals, families, corporate executives, local governments, businesses and institutions.

View original content to download multimedia:https://www.prnewswire.com/news-releases/pontera-and-oppenheimer-partner-to-empower-holistic-wealth-management-that-incorporates-clients-401ks-302304624.html

SOURCE Pontera

FAQ

What is the partnership between Pontera and Oppenheimer (OPY) announced in November 2024?

Pontera and Oppenheimer announced a partnership where Oppenheimer will use Pontera's secure platform to manage clients' 401(k) and workplace retirement accounts, enabling more holistic wealth management services.

How many financial advisors does Oppenheimer (OPY) have as of September 2024?

Oppenheimer has 928 financial advisors managing $129.8 billion in assets under administration as of September 30, 2024.

What security certifications does Pontera's platform have for managing retirement accounts?

Pontera's platform is certified under SOC 2 Type II and ISO 27001 standards, providing secure protection for client data and preventing unauthorized access to clients' 401(k)s.