The latest digital and technology innovations, product and service developments in the world's wealth management sector.

Pontera, SS&C Advent
Fintech firm Pontera, which enables advisors to trade and manage retirement assets, has integrated with SS&C’s Advent Custodial Data® network. 

Users can now view, report, supervise, and bill on 401(k), 403(b), and other held away accounts managed on Pontera’s platform through SS&C’s Advent Custodial Data® Network, including the Black Diamond® Wealth Platform, Axys, Advent Portfolio Exchange (APX), and Geneva, the businesses said in a statement. 

“401(k), 403(b), and other employer-sponsored retirement accounts are becoming the largest savings vehicles for more and more Americans,” Dave Goldman, Pontera’s chief business officer, said. “Consequently, the need for advice on these accounts is higher than ever.”

In a survey, JP Morgan found that 62 per cent of individuals wish they could completely hand over retirement planning to an expert. Because these assets are held off the financial advisor’s custody platform, or 'held away', monitoring them has been challenging historically, limiting the ability of financial advisors to give clients the help they need.

“Our relationship with SS&C solves this problem for advisors using their platforms. They are able to securely trade their clients’ held away accounts while seamlessly incorporating them into reporting, billing, and planning workflows like never before,” Goldman said.

Pontera (formerly known as FeeX) has is a platform designed to work across account types and integrate them into existing technology to help advisors improve their clients' financial outcomes.

The New York City-based firm, which was founded in 2012, recently announced that it has raised $80 million across three funding rounds led by Lightspeed Venture Partners. 

SS&C Technologies yesterday reported that it logged a 8.4 per cent year-on-year rise in operating income, on a GAAP basis, to $291.8 million in the first three months of 2022; revenue rose 5 per cent over the period to $1.295 billion.