In the wake of finalization of the Department of Labor’s fiduciary rule, onenetwork of broker-dealers is readying advisors for the comingchanges.


Cetera Financial Group, which provides platforms and services tomore than 9,000 independent financial professionals and over 500financial institutions across the country, has created a platformwith a suite of tools and resources aimed at helping advisorsidentify areas of their practices that will be subject to the DOL’sfiduciary rule.


Read: 8 fiduciary rule FAQs for 401(k) planadvisors


The DOL DynamIQs platform has been designed specifically to helpthe network’s advisors understand how the new rule may impact theirbusinesses. The platform also helps advisors gauge their readinessto comply and develop a strategy to successfully achieve DOLcompliance. DOL DynamIQs is being rolled out to all advisors acrossthe Cetera network at no additional cost.


The DOL DynamIQs tools are fully integrated with Cetera’sPentameter practice management platform, Connect2Clients advisormarketing communications support platform and its advisortransitions platform.


Among the tools built into the platform are iQuantify, adiagnostic tool enabling advisors to assess their readiness for therule, then helping develop a compliance plan while incurringminimal disruption to their practices.


Other tools in the platform include these:

  • an online assessment tool that allows advisors to identifyassets and accounts in their practices that may be impacted by theDOL’s new rule

  • a quantitative tool aimed at providing advisors with an in-depthanalysis of their business and a transition plan for clientportfolios not in compliance with the rule

  • a dedicated consulting service to provide Cetera advisors withongoing access to specialists who can help them transition clientassets to DOL-compliant solutions

  • in-depth analysis of the regulation and its implications,combined with educational materials and webcasts detailing theimpacts of the rule, how advisors can successfully adapt, and bestpractices for leveraging Cetera’s resources

The final rule does not prohibit commission-based sales, butwhen the rule is finally implemented in January2018, any recommendation on a commission-based product will have tocomply with the rule’s Best Interest Contract Exemption.

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