Cetera Expands Advisors’ ERISA Capabilities with New Matrix Offering

LOS ANGELES, CA, May 22, 2013 – Cetera Financial Group has launched an unbundled, open architecture solution as part of its fee-based plan sponsor program, which allows advisors who serve as 3(21) fiduciaries to offer more customized advice to plan sponsors. This new offering complements the bundled option the firm launched in March of this year.

“The notion of an open architecture, fee-based plan sponsor platform is somewhat unique and new in our industry,” said Cetera’s Kian Rafia, vice president wealth management. “We’re proud to offer advisors a solution that gives them the choice and flexibility to do what’s best based on their clients’ unique needs. With this added capability, our program helps our advisors further differentiate themselves from other independent and wirehouse advisors.”

The new open architecture solution utilizes Matrix Financial Solutions, a Broadridge company, to provide custodial services, robust research and fund screening capabilities through its proprietary RetireTool(k)it^®, and allows for the choice of nationally recognized record keepers and local third-party administrators. It also enables advisors to choose from a wide range of investment vehicles such as exchange traded products and mutual funds. Additionally Matrix U, the firm’s educational resource, provides access to industry experts and thought leaders to help advisors stay abreast of the latest trends and insights on how to leverage current market conditions to grow their businesses.

“Cetera recognizes that in today’s environment, advisors need options to provide comprehensive, tailored retirement solutions, from fund selection and monitoring to quarterly and annual reports,” said John Moody, president, Matrix Financial Solutions, a Broadridge company. “We’re helping them provide that flexibility to their advisors.”

Cetera’s ERISA plan sponsor program provides advisors with a wide-range of tools and support to cultivate and manage employer’s 401(k) plans. It offers marketing and sales support, record-keeping, trust and custody services, performance reporting, and advisor education.

For bundled options, Cetera leverages retirement platforms from Fidelity Investments, delivering a program that offers guidance on constructing Cetera-vetted plan menus (with choices spanning more than 2,500 funds and more than 50 families), monitoring investments and choosing qualified defined investment (QDIA) options.

“Cetera’s approach brings much-needed solutions that help advisors provide quality support and plan design expertise to their clients,” said Ted Madden, senior vice president, Fidelity Investments. “We’re excited to be working with them on this comprehensive program.”

Additionally, through a partnership with FI360, advisors can use Cetera’s program to achieve Accredited Investment Fiduciary^® (AIF) designation, which is necessary for all advisors who provide advice on ERISA accounts.

Rafia called the AIF designation a near-prerequisite to getting in the door with plan sponsors, “so we felt strongly about adding that component to our program so our advisors could take full advantage.”

The launch of this program continues Cetera’s wealth management platform expansion, an effort which also included the March announcement of Premier Portfolio Management, a new advisor-directed program with inclusive client fees and simple pricing that provides investment adviser representatives the ability to rebalance across a wide range of account sizes.