The Guided Retirement Solutions web portal is being rolled out to all Cetera’s broker/dealers, the firm says.
Through the firm’s strategic partnership with Envestnet, Cetera will continue developing plan data aggregation and practice management technology. Another initiative is the network-wide launch of Cetera’s integrated ERISA plan consulting team and third-party administrator (TPA).
According to Brett Harrison, executive vice president for adviser growth at Cetera Financial Group and chief executive officer of Cetera Advisors, the new platform’s top feature is that it provides a substantial framework for retirement plan-focused advisers to adapt rapidly and smoothly to whatever the new DOL ruling requires.
“In particular, our platform covers the three pillars that retirement plan-focused advisers will need to grow and succeed in a post-DOL environment,” Harrison tells PLANADVISER. “The right advisory products and solutions; technology support in the form of online practice management tools, data aggregation and compliance supervisory software; and personalized, expert consulting support in the form of a full-time team of 40 staff members dedicated exclusively to support, guide and educate advisers within the retirement plan space.”
Winning and retaining retirement plan business requires specialized knowledge, skills and technology, especially with significant regulatory changes right around the corner, Harrison says.
The Cetera Guided Retirement Solutions (GRS) web portal is an online resource that provides marketing materials, training, white papers and other tools to help retirement plan advisers identify, win and service retirement plan clients. The portal walks advisers through five key aspects of the retirement plan services market in order to help advisers build their skills and grow their businesses, whether they are established experts or new to the sector, covering adviser education, marketing, prospecting, closing business, and service and retention. Cetera’s Guided Retirement Solutions portal is currently available to the entire Cetera Financial Group family of firms.
Advisers who act as fiduciaries for retirement plan clients have access to a consolidated dashboard that allows them to view their entire retirement plan business at once, while also feeding industry-leading due diligence tools; robust analytics capabilities including investment comparisons, benchmarking, and others; investment policy statement generation and a broad range of additional practice management features. Envestnet also provides Cetera with in-depth data aggregation to help the company track and analyze retirement plan data across its network.
The company’s effort to provide advisers with best-in-class retirement plan solutions includes the rollout of Cetera Retirement Plan Specialists, an ERISA plan consulting firm and a dedicated TPA. Formerly known as First Allied Retirement Services and available only to First Allied advisers in the Cetera Financial Group network, the group is now seamlessly integrated with Cetera advisers’ retirement services practices in order to help them address complex plan design and administration challenges, evaluate their existing TPA service providers, and win new retirement plan business.
More information is on the Cetera website.