Cetera Launches Platform for Navigating Fiduciary Rule

The tools and resources are designed to help advisers succeed in the regulatory environment created by the finalized DOL fiduciary rule.
Cetera Financial Group has launched DOL DynamIQs, a suite of tools and resources designed to enable financial advisers to prepare for and thrive in the regulatory environment created by the Department of Labor’s (DOL) fiduciary rule.

The recently finalized DOL rule expands the definition of fiduciary under the Employee Retirement Income Security Act (ERISA), which now applies to all financial advisers who work with qualified retirement accounts and IRAs. Cetera designed the DOL DynamIQs platform to help the network’s advisers understand how the new rule may affect their business.

The platform, available at no additional cost to all advisers in the Cetera network, helps advisers gauge their readiness and develop a game plan to achieve DOL compliance through the iQuantify tool. The introduction of iQuantify will follow a pilot program for Cetera advisers across the country. In addition, the new platform includes an online assessment tool that lets advisers quickly identify the assets and accounts in their practices that may be affected by the DOL’s new rule; a tool that provides advisers in-depth analysis of their businesses and a transition plan for client portfolios not in compliance with the DOL fiduciary rule; a consulting service that will provide advisers ongoing access to specialists who can help them transition client assets to DOL-compliant solutions; and in-depth analysis of the regulation and its implications, combined with educational materials and webcasts describing the rule and how advisers can successfully adapt.

The tools provided within the DOL DynamIQs program are fully integrated with Cetera’s Pentameter practice management platform, its Connect2Clients adviser marketing communications support platform and its “90 in 90” adviser transitions platform.

“Cetera and its advisers have always emphasized the importance of putting clients’ best interests first, and we support efforts to further this crucial goal,” says Adam Antoniades, president of Cetera Financial Group. “The Department of Labor’s new regulatory framework is expected to significantly impact the independent adviser business model and will undoubtedly result in substantial changes in compliance and business processes. Financial advisers who work with retirement accounts on any level need to know that their broker-dealer has the in-house expertise and resources to help them identify and cope with the potential impact to their businesses.”