Pontera has introduced Bulk Rebalancing to help advisors improve workplace retirement plan management. The new workflow enables advisory firms to manage multiple accounts within the same workplace retirement plan.
It allows for a centralized approach towards performing the rebalance process on a regular basis. Furthermore, it retains control of the accounts, permissions, and logs. Therefore, advisors can minimize manual effort.
Advisory firms keep on expanding their range of services in regard to workplace retirement plans. Nevertheless, handling several similar accounts is quite difficult. If the client is using the same workplace plan, then the client may be investing in the same securities. The portfolios are handled independently.
“Advisory firms have been clear about the challenge: When many clients share the same workplace plan, repeating similar work account by account is time-consuming and difficult to scale,” said Dave Goldman, Chief Business Officer at Pontera. “Bulk Rebalancing streamlines that work, helping advisory teams get upwards of three hours per plan back while maintaining the review and control they need. By reducing manual work, firms can spend less time on administrative tasks and more time serving clients.”
This is why Pontera came up with Bulk Rebalancing to make such things easier for companies. It allows companies to easily deal with repetitive processes through one common and auditable workflow. It also gives visibility to investment teams and authorized users. Using Bulk Rebalancing, companies can create portfolios based on plans through available workplace plan investments. They can also relate portfolios to risk profiles of clients. Companies can assign eligible accounts without making any orders.
“Scale only works when teams can remain in control of the workflow,” said Michal Bar, Director of Product Management at Pontera. “Bulk Rebalancing lets firms standardize portfolio management at the plan level while keeping account-level review and oversight. Teams can scale their operations without giving up control.”
As rebalancing is started, an authorized user may choose to have multiple accounts through a single workflow process. He/she will be able to evaluate any changes made and send all selected orders at once. Also, teams will be able to track order status and manage full rebalance history. This new functionality consists of a number of features that will help to efficiently manage the portfolio.
Thus, it is possible for advisory firms to enhance retirement plan operations without compromising on their control. The technology allows advisors to save time on mundane tasks. Rather, advisors will be able to focus on adding value to the clients. Pontera’s new rebalancing solution reiterates its dedication to providing value to financial professionals managing workplace retirement plans.
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News Source: Businesswire.com
