Matrix Financial Solutions, a Broadridge Financial Solutions company said that Southwest Securities and Summit Brokerage Services have implemented its complete broker/dealer platform to increase visibility and provide their advisers with a competitive advantage to meet client needs and grow their businesses.
Southwest and Summit join more than 30 other firms that utilize Matrix’s platform, which includes access to more than 25,000 mutual funds and ETFs.
The Matrix BD Platform is an integrated suite of services designed specifically to help broker-dealer firms successfully navigate the retirement plan process by improving efficiencies, providing assistance in meeting compliance guidelines and supporting regulatory mandates.
"It’s clear that transparency is critical in this increasingly complex and competitive financial environment. Broker/dealers need visibility into plan data and information to quickly assess risk, increase productivity and keep up with the regulatory landscape," said John Moody, President, Matrix Financial Solutions.
"We’re pleased to be working with Southwest and Summit to help them achieve that visibility, offer increased flexibility and provide a competitive advantage to their advisers in the retirement plan process."
"Matrix’s end-to-end solution provides increased visibility throughout our organization and offers the crucial tools that empower our advisors to better serve existing clients and win new business," said Rob Crowe, Chief Marketing Officer, Summit Brokerage Services, Inc.
On Matrix’s BD Platform, Southwest and Summit will have access to Matrix’s Plan Level Data Feed, Level Compensation and Retiretool(k)it solutions. Plan Level Data Feed creates a "window" into the activity of a firm’s brokers/advisors, and includes plan asset values, investment activity and other information.
The Levelized Compensation capability helps provide a lineup of investment options that will pay the firms and brokers a levelized compensation. RetireTool(k)it leverages Matrix’s TrueOpen architecture and will support the firms’ advisors with everything from fund selection and monitoring to investment policy statements, plan proposals, enrollment kits, and both quarterly and annual monitoring reports.
"One of our core philosophies is to provide the advisor with the right tools to consistently offer high quality plan options that best meet the plan’s needs," said Larry G. Tate, Southwest Securities’ Director of Retail.
"Leveraging the Matrix suite of solutions will allow us to support our financial advisors and give them the ability to provide the plan with the best options possible based on each plan’s individual needs."