Cetera Launches ‘My 401(K) Assistant’ Process Outsourcing

The back-office support program provides investment monitoring reports and generates RFPs, among other capabilities.

Cetera Financial Group has launched a new back-office support platform for retirement plan advisers, dubbed “My 401(k) Assistant.”

According to Cetera, the service provides “automatically generated investment monitoring reports and proposal comparisons from multiple potential recordkeeper partners for any adviser looking to do retirement plan business.” The underlying services are provided by Cetera’s Retirement Plan Solutions team, and are aimed at helping increase efficiency for retirement plan advisers.

Jon Anderson, head of Cetera’s Retirement Plan Solutions team, says the new solution will help advisers spend more time on core, value-added client service priorities without the need to implement new systems or alter their business practices.

“My 401(k) Assistant enables our advisers to ‘in-source’ critical yet time-consuming functions like comparing complex proposals from recordkeepers and performing detailed monitoring of investment performance,” Anderson says. “This allows advisers to upgrade their efficiency and focus their efforts on relationship-building client service activities.”

According to the firm, the solution’s “Reporting Assistant” outsources the work of generating plan investment monitoring reports to the Cetera Retirement Plan Solutions team. Same with the “RFP Assistant,” which leverages the Cetera Retirement Plan Solutions team to conduct proposal comparisons for up to five prospective recordkeeping partners.