Southwest and Summit join more than 30 other firms already utilizing Matrix’s B/D platform, which supplies financial advisers and other investment professionals with access to more than 25,000 mutual funds and exchange-traded funds (ETFs). The firms hope to leverage the Matrix platform to increase visibility in the retirement planning marketplace and to provide their advisers with an opportunity to meet specific client needs.
Matrix says its B/D platform assists investment services firms by improving process efficiencies, providing assistance in meeting compliance guidelines and supporting regulatory mandates.
“It’s clear that transparency is critical in this increasingly complex and competitive financial environment,” says John Moody, president of Matrix Financial Solutions. “Broker/dealers need visibility into plan data and information to quickly assess risk, increase productivity and keep up with the regulatory landscape.”
Though the new partnership, Southwest and Summit also gain access to Matrix’s Plan Level Data Feed, as well as the Level Compensation and RetireTool(k)it solutions. Plan Level Data Feed creates a window into the activity of a firm’s brokers and advisers, including breakdowns of plan asset values and investment activity. RetireTool(k)it leverages Matrix’s “TrueOpen” architecture and will support the firms’ advisers with everything from fund selection and monitoring to the crafting of investment policy statements, plan proposals, enrollment kits, and both quarterly and annual monitoring reports.
Larry Tate, Southwest Securities’ director of retail, believes that leveraging the Matrix suite of solutions will give his firm’s advisers the ability to provide retirement plan clients with the best investment options based on each plan’s individual needs.
“One of our core philosophies is to provide the adviser with the right tools to consistently offer high quality plan options that best meet the plan’s needs,” he adds.