The augmented system will, among other things, now allow broker-dealers to access a level compensation service as well as view more plan data. Financial advisors will also be able to do more with plan proposal and management.
The level compensation functionality is marketed as an important resource for broker-dealers. The service reportedly provides
In a levelized compensation structure, the fees that a broker-dealer receives from an investment are a level percentage of plan assets, or a fixed dollar amount.
In the Matrix system, this functionality is offered with two price points – 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 as well as reporting via the commission settlement service of the
Other new functions offered include an improved data feed service, which will present plan asset values, investment activity and other important data. It will also create a window for broker-dealers into the activity of a firm’s advisors.
In addition, two new key tools are also targeted to advisors. The first is RetireToolKit Desktop Proposal Generator, which will enable advisors to research, select and monitor funds from more than 20,000 investment options. The second tool, RetireToolKit Desktop Report Generator, allows advisors to prepare and print 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,” stated Matrix president
Matrix Financial is part of
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