#USA #New York #Financial Technology #Pontera #Texas TSSB

Pontera Supports Texas Regulator's New Data Management Standards

In a significant recognition of evolving financial regulations, Pontera, a prominent fintech company, has publicly endorsed the Texas State Securities Board's (TSSB) recently issued best practices regarding data aggregation and management of held-away assets. This move highlights a growing synergy between cutting-edge financial technology and regulatory measures aimed at safeguarding investors and promoting fiduciary responsibility.

Ben White, Senior Director of Public Policy at Pontera, praised the TSSB’s initiative: "Pontera applauds The Texas State Securities Board for providing clear guidance that prioritizes investor choice and protections." The company emphasizes that their technology is specifically designed to empower financial advisors, enabling them to deliver thorough financial planning while maintaining stringent standards of security and transparency.

Enhancing Investor Protection

The TSSB's guidance establishes pivotal steps for financial advisors utilizing Pontera’s platform. Advisors are encouraged to:

1. Conduct comprehensive due diligence regarding Pontera's capabilities.
2. Evaluate Pontera's robust cybersecurity measures.
3. Maintain detailed, auditable records of activities conducted on the Pontera platform.

This regulatory framework is particularly relevant given the dynamic nature of the 401(k) advisory sector. As wealth management firms and 401(k) service providers expand their advisory services, many American workers are looking for personalized assistance managing their largest retirement assets. Pontera aims to remove barriers that often prevent individuals from having personal advisors manage their 401(k) accounts, thereby enhancing their financial well-being.

A Model for Regulatory Guidance

White further emphasized the TSSB's role in providing a blueprint for guidance that ensures financial advisors can meet fiduciary standards when selecting and employing technological tools in their practices. "Financial advice is highly personal, and Pontera is eager to collaborate with regulators who support retirement savers in accessing tailored financial advice," he stated.

About Pontera

Founded in 2012 and headquartered in New York City, Pontera is on a mission to empower millions of Americans to improve their retirement outcomes. By providing a secure platform that integrates seamlessly with advisors' portfolio management resources, Pontera enables financial advisors to manage, rebalance, and report on clients' assets within 401(k)s, 403(b)s, and various employer-sponsored accounts. The platform is designed to support comprehensive investment management that can significantly improve financial results for American workers.

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

As Pontera continues to lead in revolutionizing the way financial advice is delivered, the collaboration with regulatory bodies like the TSSB marks a pivotal moment for the industry, promising better security and transparency in financial services.

For media inquiries, contact:
Sarah Levine, [email protected]