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Cetera Launches My 401(k) Assistant

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Cetera Financial Group has announced the launch of the My 401(k) Assistant service platform, which provides automatically generated investment monitoring reports and proposal comparisons from multiple potential recordkeeper partners for advisors seeking retirement plan business.

The new offering provides two separate subscription-based service offerings that allow advisors to draw on in-house Cetera capabilities.

The first, Reporting Assistant, outsources the work of generating plan investment monitoring reports to the Cetera Retirement Plan Solutions team. This allows advisors to send customizable, professional performance reports to plan sponsor clients on an annual or quarterly basis. Advisors can choose data to include, as well as distinguishing the reports with their own logos. This can be done without needing to learn or implement new technology tools.

The second, RFP Assistant, brings in the Cetera Retirement Plan Solutions team to conduct proposal comparisons for up to five prospective recordkeeping partners. RFP Assistant then provides advisors with reports that include comparisons of recordkeepers’ services and features; plan cost summaries; investment mapping and investment proposal portfolio comparisons; and investment risk/return reviews.

“Cetera’s new My 401(k) Assistant enables our advisors to ‘in-source’ critical yet time-consuming functions like comparing complex proposals from recordkeepers and performing detailed monitoring of investment performance,” Jon Anderson, head of Cetera’s Retirement Plan Solutions team, says in a statement.

Anderson adds, “This allows advisors to upgrade their efficiency and focus their efforts on relationship-building client service activities. Additionally, we are helping advisors serve more plans across the country by reducing the complexity, friction and cost of serving this business and helping our advisors impact more American workers.”


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