Matrix Financial Solutions is expanding its core mutual fund trading platform providing broker-dealers access to a level compensation service – a first in a completely open architecture environment – and greater visibility into plan data. The offering also includes advanced plan proposal and management features for financial advisors.
The expanded Matrix product and service offering will help financial services firms and financial advisors more successfully navigate the retirement plan process, generate new business opportunities and comply with regulatory changes, all in an open architecture environment.
The new products and services offered by Matrix include:
Data Feed Service — presents plan asset values, investment activity and other important information, and creates a window for broker-dealers into the activity of a firm’s advisors.
Level Compensation Service — provides SEC Registered broker-dealers the necessary certainty that all investment options available to plan participants will pay the firm and the representative a levelized compensation structure. The service is offered with two options — 25 and 50 basis points. Matrix will manage all 12b-1 revenue collection and reconciliation efforts with the fund companies and offer a single payment and reporting via DTCC’s Commission Settlement service.
RetireToolKit Desktop Proposal Generator — enables advisors to research, select and monitor funds on behalf of the plan from a universe of more than 20,000 investment options. Professional, customized proposals can be easily packaged with pre-printed sales materials giving advisors the ability to provide plan sponsors with a highly competitive package.
RetireToolKit Desktop Report Generator — allows advisors to efficiently prepare and print professional looking quarterly and annual plan reviews for meetings with plan sponsors.
"The expansion of our service offering provides all the tools needed to help retirement plan providers comply and win in this evolving environment," says John Moody (pictured), President, Matrix. "With new fee disclosure regulations in place and fiduciary standards under review, increased visibility from an open architecture process, at both the firm and advisor level, is being viewed as the solution to help them gain new business and comply with new regulatory changes."
Level compensation, specifically, was created to provide certainty that the pay structure for investments would be level, regardless of the investment chosen by a plan sponsor or any of its participants. Prior to introduction of this service by Matrix, firms were typically restricted in their choice of investments with level compensation plans. This new service offered by Matrix offers a level payout and access to thousands of funds, and provides broker/dealers with a powerful competitive advantage.