Pontera Celebrates Texas Guidance on Data Management Practices
Pontera Supports Texas Regulators' Innovation in Financial Guidance
Pontera, a leading platform specializing in secure management of held-away assets, has voiced strong approval for the recent best practices announced by the Texas State Securities Board (TSSB) regarding data aggregation and third-party platform use. This initiative marks a crucial intersection of advanced financial technology and regulatory guidelines that prioritize investor safety and uphold fiduciary duties.
Pontera's Commitment to Investor Protection
According to Ben White, Senior Director of Public Policy at Pontera, this guidance proves essential in enhancing investor protection and choice. "Pontera applauds the Texas State Securities Board for providing clear guidelines that ensure investor safety while empowering advisers with the necessary tools to enhance financial planning, transparency, and security,” he stated. Pontera’s platform is created to facilitate comprehensive planning using meticulous security standards.
Best Practices for Advisers
As advisers seek to align their methodologies with the latest regulatory expectations, the TSSB's guidance outlines several recommended practices when working with Pontera:
- Conduct thorough due diligence regarding Pontera's functionalities.
- Evaluate Pontera's industry-leading cybersecurity measures.
- Maintain comprehensive and auditable records of activities conducted on Pontera's platform.
The Growing Market for Financial Advice
The demand for personalized 401(k) advice has been rapidly escalating, driven by wealth management firms and 401(k) providers who offer advisory services related to many Americans' primary retirement investments. Many individuals pay for personalized advice, yet still desire their own personal advisers to oversee account management.
Pontera is revolutionizing this dynamic, allowing clients to have personal advisers manage their 401(k) accounts seamlessly. With this innovative approach, Pontera effectively dismantles barriers that have historically limited access to personalized financial guidance.
Future Collaborations and Support
In his commentary, White noted, "The Texas State Securities Board is establishing a guiding framework that facilitates advisers in meeting fiduciary obligations while selecting and utilizing these tools. Financial advice is inherently personal, and Pontera is eager to collaborate with regulators who prioritize the needs of retirement savers seeking tailored advice." This continued support for advisers and clients underscores Pontera’s commitment to improving financial outcomes for all.
About Pontera
Pontera is an innovative fintech company dedicated to enhancing the retirement experience for millions of Americans by enabling financial advisors to manage, rebalance, and report on clients' assets held in 401(k)s, 403(b)s, and other employment-related accounts. Founded in 2012 and based in New York City, the company’s secure platform integrates seamlessly with various portfolio management tools, allowing advisors to provide comprehensive investment management and improve overall financial performance.
For additional information, please visit www.pontera.com.
Frequently Asked Questions
What are the best practices recently announced by TSSB?
The TSSB's best practices focus on data aggregation and using third-party platforms to enhance investor protection and meet fiduciary obligations.
How does Pontera support financial advisers?
Pontera provides a platform that allows advisers to manage and report on clients' assets efficiently while ensuring high security and transparency standards.
Why is personalized financial advice becoming more popular?
As wealth management firms grow, the demand for tailored advisory services that cater to individual retirement goals is on the rise.
What steps can advisers take to align with TSSB guidance?
Advisers should engage in thorough due diligence, assess cybersecurity practices, and keep detailed records of their activities on Pontera's platform.
What is Pontera's mission?
Pontera aims to help Americans improve their retirement outcomes by enabling smoother asset management through dedicated financial advisers.
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