Cetera Financial Group® Launches iAnalyze Tool as Next Crucial Element of DOL DynamIQsTM Platform
Powerful Practice Management Analytics Tool Designed to Help Financial Advisors Conduct In-Depth Analyses of DOL Rule’s Impact on their Clients’ Accounts
Los Angeles, CA – Cetera Financial Group® ("Cetera")*, a leading network of independent broker-dealer firms, today announced the launch of iAnalyze, a powerful new practice management analytics tool designed to provide Cetera financial advisors with a comprehensive, fully-integrated dashboard that brings together account information, asset levels, and other key data for each client. With the new Department of Labor (DOL) fiduciary rule poised to transform the ways in which advisors engage clients, communicate and deliver their value propositions and manage their businesses, iAnalyze will allow financial advisors to gauge the adjustments needed for each client account in order to bring them into compliance with these new regulatory standards.
iAnalyze forms the next key component of Cetera’s DOL DynamIQs platform, which launched in April and is designed to guide advisors through the complex and challenging transformation the DOL rule poses for the independent financial services industry. The tool also follows on the successful launch in May of iQuantify, which helps advisors gauge their overall preparedness to comply with the rule and provides them with educational resources to understand its effects.
To date, Cetera’s focus with the DOL DynamIQs platform has been to help advisors understand what it will mean to be an independent advisor in the post-DOL world, as well as how to deliver best interest advice within the new rule’s requirements and how to position their practices to thrive in the reshaped regulatory environment that will result once the rule is implemented. iAnalyze is expected to enable Cetera to build on the success of these efforts by helping advisors begin the process of transitioning their existing books to meet the rule’s requirements.
iAnalyze is being rolled out to Cetera advisors in two phases, with the introduction of the new practice management analytics dashboard constituting Phase 1 and the step-by-step planning component for transitioning impacted accounts as Phase 2. The Phase 2 planning component will provide advisors with direction in accordance with Cetera’s developing policies on the DOL rule. The tool will facilitate end-to-end guidance and support that will enable advisors to understand the numerous paths to achieving compliance for each impacted account, thus creating a roadmap with a variety of specific options for each client and account. Cetera completed Phase 1 on September 26 and expects to finish Phase 2 by the fourth quarter of this year.
Adam Antoniades, President of Cetera Financial Group, said, “Cetera Financial Group is addressing the challenges posed by the new Department of Labor fiduciary rule head-on by taking a strategic approach to guiding our advisors through this significant regulatory shift. We believe that this change will not only present new hurdles, but will also bring about new opportunities, as many current advisors will choose to retire rather than transform their businesses, thereby increasing money in motion across the industry. With that in mind, we have specifically focused our efforts on developing a platform – DOL DynamIQs – that will enable our advisors to thrive under the new rule. With the first component of the platform – our iQuantify tool – we helped advisors assess their preparedness to navigate this transformation. Now, with Phase 1 of the iAnalyze rollout, we have enabled our advisors to assess their books of business at a new level of detail by viewing the impact of the DOL rule on each account and on each product within those accounts, and by giving them the ability to segment their client data using the tool’s robust analytical and reporting options. With Phase 2, we will help our advisors translate this new level of visibility into a concrete action plan to bring each of their client accounts and products into compliance with the rule smoothly and seamlessly.”
Antoniades continued, “With iAnalyze, Cetera Financial Group is building on the success and momentum we have experienced to date with the rollout of our DOL DynamIQs platform to demonstrate, once again, our ability to leverage our industry-leading scale, resources, and thought leadership to provide our advisors with the tools and support they need to achieve DOL compliance with confidence. Our strong technology offerings, coupled with the multitude of educational resources and in-house consulting expertise we offer, have positioned Cetera as a true partner focused on helping our advisors and their clients thrive in the years ahead.”
About Cetera Financial Group
Cetera Financial Group® ("Cetera") is a leading network of independent retail broker-dealers empowering the delivery of objective financial advice to individuals, families and company retirement plans across the country through trusted financial advisors and financial institutions.Cetera is the second-largest independent financial advisor network in the nation by number of advisors, as well as a leading provider of retail services to the investment programs of banks and credit unions.
Through its multiple distinct firms, Cetera offers independent and institutions-based advisors the benefits of a large, established broker-dealer and registered investment adviser, while serving advisors and institutions in a way that is customized to their needs and aspirations.Advisor support resources offered through Cetera include award-winning wealth management and advisory platforms, comprehensive broker-dealer and registered investment adviser services, practice management support and innovative technology.For more information, visit www.ceterafinancialgroup.com.
* "Cetera Financial Group" refers to the network of retail independent broker-dealers encompassing Cetera Advisors, Cetera Advisor Networks, Cetera Financial Institutions, Cetera Financial Specialists, First Allied Securities, Girard Securities, and Summit Brokerage Services.
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