Matrix Product Expansion Increases Visibility and Growth Opportunities for Firms and Financial Advisors
New Products Open the Door for Retirement Plan Providers to Leverage Industry-leading TrueOpen(TM) Architecture
LAKE SUCCESS, N.Y. - Matrix Financial Solutions, a Broadridge Financial Solutions, Inc. (NYSE: BR) company, announced today a significant expansion of its core mutual fund trading platform. The offering provides 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," said John Moody, 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.
About Matrix Financial Solutions
Matrix Financial Solutions, now part of Broadridge Financial Solutions, Inc., is a leading provider of TrueOpen(TM) retirement products and services for third party administrators, financial advisors, banks and other financial professionals. Matrix serves more than 300 financial institutions with over $145 billion in customer assets processed through its trading platform. For more information about Matrix please visit www.matrixfinancialsolutions.com.
About Broadridge
Broadridge is a technology services company focused on global capital markets. Broadridge is the market leader enabling secure and accurate processing of information for communications and securities transactions among issuers, investors and financial intermediaries. Broadridge builds the infrastructure that underpins proxy services for over 90% of public companies and mutual funds in North America; processes more than $4 trillion in fixed income and equity trades per day; and saves companies billions annually through its technology solutions. For more information about Broadridge please visit www.broadridge.com.
Media Contact:
Kelly M. Howard
Broadridge
+1-212-981-1347
kelly.howard@broadridge.com
SOURCE
Broadridge Financial Solutions, Inc.
Web Site: www.broadridge.com
