Cetera Says It, Too, Will Keep Commissions in Retirement Accounts

In a memo on Monday, Cetera Advisors President Erinn Ford told affiliated reps that the IBD does not intend to take that path and is working with fund firms to fulfill the requirements of the DOL fiduciary rule in order to keep commission-based products in IRA accounts on the Cetera platform.

On Thursday, Cetera Financial Group said it was rolling out a new practice-management analytics tool, iAnalyze, to integrate account information, asset levels and other data for each client, so that advisors can "gauge the adjustments needed … to bring [accounts] into compliance with these new regulatory standards," it explained.

The IBD group says it is introducing iAnalyze in two phases; the first phase was wrapped up in September, while the second of which should be completed by Dec. 31.

"The tool will facilitate end-to-end guidance and support that will enable advisors to understand the numerous paths to achieving compliance for each impacted account, thus creating a roadmap with a variety of specific options for each client and account," the firm said in a press release.

— Related on ThinkAdvisor:

• The BICE Is Not a DOL Fiduciary Get-Out-of-Jail-Free Card
• DOL Releases FAQs on Fiduciary Rule
• Morgan Stanley Keeps Commission Retirement Accounts, Despite DOL Rule
• DOL Rule Casualty: Commonwealth Drops Commission Retirement Products