Commonwealth Streamlines Defined Contribution Reporting and Proposal Generation Process
with Matrix Broker-Dealer Platform
For Matrix Financial Solutions
Brainerd Communicators, Inc.
For Commonwealth Financial Network
LAKE SUCCESS, N.Y., March 4, 2013 — Matrix Financial Solutions, Inc., a Broadridge Financial Solutions, Inc. (NYSE:BR) company, announced today that Commonwealth Financial Network will implement the Matrix Broker-Dealer (“BD”) Platform and TrueOpen™ desktop applications to support its financial advisors in growing their businesses and enhancing the client experience.
Through its TrueOpen architecture, the Matrix BD Platform desktop applications provide custom, detailed, quarterly and annual reports, along with a proposal generation tool that offers Commonwealth advisors access to more than 24,000 funds. Additionally, the desktop applications feature multiple TPA/record-keeper options to offer clients retirement plan options specifically designed to help meet their unique needs. This combination of services will optimize the advisor/plan sponsor process and support Commonwealth’s initiative to offer an alternative to bundled solutions.
“Our core philosophy is advisor-focused and client-forward™, so having the ability to consistently offer high-quality plan options and services is extremely important to us,” said Paul Mahan, Director of Retirement Consulting Services at Commonwealth. “The Matrix suite of solutions, coupled with the capabilities of their record-keeping and TPA partners, is incredibly powerful and will allow us to continue to support our advisors and the unique needs of their clients in a very meaningful way.”
“We are looking forward to helping Commonwealth achieve real results using our solutions,” said John Moody, President, Matrix Financial Solutions. “The Matrix BD Platform can help Commonwealth more effectively plan, execute and analyze its open architecture retirement plan business and provide the right mix of products and services for their customers.”
The Matrix BD Platform is an integrated suite of retirement planning products and services designed specifically to help broker-dealer firms more successfully navigate the retirement plan process by improving efficiencies, providing assistance in meeting compliance guidelines and supporting regulatory mandates. The BD Platform includes plan data feed and level compensation services, as well as advisor desktop applications that offer support for 408(b)(2) fee disclosure regulations, reporting and fund selection and monitoring.
About Matrix Financial Solutions
Matrix Financial Solutions Inc., now part of Broadridge Financial Solutions, Inc., is a leading provider of TrueOpen 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.
Broadridge Financial Solutions, Inc. (NYSE:BR) is the leading provider of investor communications and technology-driven solutions for broker-dealers, banks, mutual funds and corporate issuers globally. Broadridge’s investor communications, securities processing and operations outsourcing solutions help clients reduce their capital investments in operations infrastructure, allowing them to increase their focus on core business activities. With 50 years of experience, Broadridge’s infrastructure underpins proxy voting services for over 90% of public companies and mutual funds in North America, and processes more than $4.5 trillion in fixed income and equity trades per day. Broadridge employs approximately 6,200 full-time associates in 13 countries. For more information about Broadridge please visit www.broadridge.com.
Founded in 1979, Commonwealth Financial Network, member FINRA/SIPC, and a registered investment adviser, is the nation’s largest privately held independent broker/dealer, with headquarters in Waltham, Massachusetts, and San Diego, California. The firm supports more than 1,400 independent advisors nationwide and makes available a comprehensive array of financial products and services. For more information, please visit www.commonwealth.com.