LAKE SUCCESS, New York — March 5, 2012 — Matrix Financial Solutions, a Broadridge Financial Solutions, Inc. (NYSE: BR) company, announced today a significant expansion of its core mutual fund trading platform. The offering provides broker-dealers access to a level compensation service—a first in a completely open architecture environment—and greater visibility into plan data. The offering also includes advanced plan proposal and management features for financial advisors.
The expanded Matrix product and service offering will help financial services firms and financial advisors more successfully navigate the retirement plan process, generate new business opportunities and comply with regulatory changes, all in an open architecture environment.
The new products and services offered by Matrix include:
Data Feed Service – presents plan asset values, investment activity and other important information, and creates a window for broker-dealers into the activity of a firm’s advisors.
Level Compensation Service – provides SEC Registered broker-dealers the necessary certainty that all investment options available to plan participants will pay the firm and the representative a levelized compensation structure. The service is offered with two options – 25 and 50 basis points. Matrix will manage all 12b-1 revenue collection and reconciliation efforts with the fund companies and offer a single payment and reporting via DTCC’s Commission Settlement service.
RetireToolKit Desktop Proposal Generator – enables advisors to research, select and monitor funds on behalf of the plan from a universe of more than 20,000 investment options. Professional, customized proposals can be easily packaged with pre-printed sales materials giving advisors the ability to provide plan sponsors with a highly competitive package.
RetireToolKit Desktop Report Generator – allows advisors to efficiently prepare and print professional looking quarterly and annual plan reviews for meetings with plan sponsors.
“The expansion of our service offering provides all the tools needed to help retirement plan providers comply and win in this evolving environment,” said John Moody, President, Matrix. “With new fee disclosure regulations in place and fiduciary standards under review, increased visibility from an open architecture process, at both the firm and advisor level, is being viewed as the solution to help them gain new business and comply with new regulatory changes.”
Level compensation, specifically, was created to provide certainty that the pay structure for investments would be level, regardless of the investment chosen by a plan sponsor or any of its participants. Prior to introduction of this service by Matrix, firms were typically restricted in their choice of investments with level compensation plans. This new service offered by Matrix offers a level payout and access to thousands of funds, and provides broker/dealers with a powerful competitive advantage.
About Matrix Financial Solutions
Matrix Financial Solutions, now part of Broadridge Financial Solutions, Inc., is a leading provider of TrueOpen™ retirement products and services for third party administrators, financial advisors, banks and other financial professionals. Matrix serves more than 400 financial institutions with over $300 billion in customer assets processed through its trading platform. For more information about Matrix, please visit matrix.broadridge.com.
Broadridge Financial Solutions, Inc. (NYSE:BR) is the leading provider of investor communications and technology-driven solutions for broker-dealers, banks, mutual funds and other corporations. Broadridge’s investor and customer communications, securities processing and managed services solutions help clients reduce their capital investments in operations infrastructure, allowing them to increase their focus on core business activities. With over 50 years of experience, Broadridge's infrastructure underpins proxy voting services for over 90% of public companies and mutual funds in North America and processes on average $5 trillion in equity and fixed income trades per day. Broadridge employs approximately 10,000 associates in 16 countries.
For more information about Broadridge, please visit www.broadridge.com.