– [Gene] Hello, this is Gene Goldman. I’m Chief Investment Officer of Cetera
Financial Group. With me here is Jon Anderson,
Jon is head of Cetera’s Retirement Plan Solutions. And we’re here today to discuss a new
offering within retirement plans. Jon, let’s talk about it. – [Jon] Yeah, thanks, Gene. So, the offering is called the 3(38)
Investment Fiduciary Manager program. And what the point of the program is,
is to really take the most arduous task of managing a retirement plan off the
advisor’s plate. In this program, the advisor would engage
into an agreement with the planned sponsor client to offer investment management
services. But those services, they would insource
actually to our investment committee here at home office. – So, if you’re an advisor, you know,
why not just outsource? Why outsource?
Why not just do it yourself? – That’s a really great question, Gene. So as you know better than anybody else,
investment due diligence, fund selection, fund monitoring, all these things are
extremely time-consuming and advisors have limited resources at their offices. So, rather than them spend their resources
doing these things, they insource them to us so that they can free up their time
to work with planned participants, to work with new 401K clients. We think it’s extremely important to make
your advisors or your services, your expert level services advisors
available to plan participants on a broad basis, right? These participants are preparing for their
financial future, are preparing for retirement, and they need help in
making those decisions. Now as you know, Gene, your process,
your investment due diligence process and management process is extremely important. Can you talk a little bit about what you
and investment committee do together to make sure that fund lineups are of the
highest quality for plan participants? – Sure.
Great question, Jon. so, what we do just like all of the
programs where we provide manager research, our manager research
team really just jumps in and analyzes funds.
It’s a three-step process. Number one, it’s in-depth,
quantitative screening, so slicing and dicing a ton of data to
find good, strong, performing managers. Number two, it’s sitting down with
managers, conference calls with managers to really get a better perspective have
they had great performance due to luck or due to skill, repeatable process in place. Does their philosophy make sense? And number three is probably the most
important point is that we have an investment committee that oversees
everything we do. So, the investment committee comprises of
leaders throughout the Cetera organization. You know, leaders from due diligence,
from legal, from compliance, from, you know, from investment solutions. This team together the investment
committee oversees and monitors what my team and I do from an investment research
standpoint. So Jon, that’s what my team does.
What does your team do? – Yeah, thanks, Gene. So, over the past several years,
we’ve really focused on this concept of mastering the fundamentals. We’ve also noted that advisors want to get
into the business but they find it a little too complicated. So, we recognized that those advisors need
help in providing those services, right? So, we’ve created a concept around
mastering the fundamentals of doing retirement plan business,
honing in on those fundamentals so advisors can rely on us for providing
those services. We want advisors to focus on what they do
best and likely enjoy the best, which is managing relationships with
clients. All of our services,
our in-house fiduciary manager service that we’re talking about here,
our plan level fee-base services called PACP, our turnkey TPA or in-house
TPA services, and other insource services in house are all focused on making that
time available to advisors so they can spend their time with participants and out
there prospecting new business. This is whether they’ve done plan business
or not before, whether they’re experts or not.
We want to make business easily. We ultimately need and want more advisors
doing retirement plan business and everything that we’re doing here is trying
to make that retirement plan’s business easy for them.
– This is an exciting program. So advisors, if they want more
information, how do they get it? – Yeah, thanks, Gene. It’s very easy to get in touch with us,
[email protected] Or if you know who your retirement
practice consultant is, reach out to them or anybody else on the
team and we’ll be more than happy to help you.
– Great. So, everyone, thank you for listening
today. This has been Gene Goldman,
CIO for Cetera Financial Group, Jon Anderson, head of Cetera’s Retirement
Plan Solutions. We are announcing the launch of the new
3(38) Program. Thank you.