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April 26, 2016 at 10:50 AM
Cetera Financial Group, the second largest independent financial advisor network in the nation by number of advisors, has launched a suite of integrated tools and resources designed to help financial advisors comply with the Department of Labor’s recently released fiduciary rule.
The platform, called DOL DynamIQs, was designed to help Cetera’s network of independent retail broker-dealers understand how the new rule may affect their businesses and help them develop a game plan to achieve compliance. Effective immediately, DOL DynamIQs is being rolled out to all advisors across the Cetera network at no additional cost.
According to Adam Antoniades, president of Cetera Financial Group, the platform will enable Cetera’s advisors to adapt smoothly to this important regulatory shift.
“The Department of Labor’s new regulatory framework is expected to significantly impact the independent advisor business model and will undoubtedly result in substantial changes in compliance and business processes,” Antoniades said in a statement. “Financial advisors 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.”
The DOL DynamIQs platform includes a diagnostic tool — called iQuantify — that will assess advisors’ readiness for the fiduciary rule and help them map out an actionable game plan to achieve compliance with minimal disruption to their practices. The platform also includes an online assessment tool that allows advisors to quickly identify the assets and accounts in their practices that may be affected by the DOL’s new rule and a quantitative tool aimed at providing advisor with an in-depth analysis of their business.
