Matrix Financial Solutions, a Broadridge Financial Solutions company, is to provide its plan data feed service, part of the newly launched Matrix Broker/Dealer (BD) solutions suite, to UBS Wealth Management US.
As part of the agreement, Matrix’s core trading platform has been added to the UBS Select for Corporate Plans Platform. The combination of the services will help UBS increase its visibility into retirement plan assets and activity throughout the firm, tighten their core compliance processes, and offer its Financial Advisors (FAs) more flexibility throughout the retirement plan process.
The Matrix BD Platform is an integrated suite of retirement planning products and services that enables financial services firms and advisors to more successfully navigate the retirement plan process. Through its TrueOpen(TM) architecture, the solutions improve efficiencies and tighten compliance principles throughout the enterprise and support recent regulatory mandates. The suite includes the plan data feed services, the type of services to be provided to UBS, and level compensation services, as well as advisor desktop applications.
"Matrix is excited about this new relationship and the business opportunities it will offer not only UBS but our TPA customers as well," says John Moody (pictured), President, Matrix. "We believe our BD Platform will support UBS in its effort to continue to grow its retirement business in an increasingly regulated environment and provide increased visibility and tighter controls."
Additionally, as a result of this arrangement, UBS FAs will be able to view values and activity in their plans on the Matrix platform via the UBS desktop platform, ConsultWorks.
Using TPAs that have a relationship with Matrix in conjunction with the Matrix custodial platform provides UBS FAs with the opportunity to bring Matrix’s TrueOpen architecture features to their plan clients including choice of TPA and the long list of UBS-approved investment offerings for 401(k), 403(b), 457 plans and more.
"The addition of Matrix to the UBS Platform will greatly enhance our relationship with clients by reducing their cost of administration and time and effort the advisor has to spend on manual processing," says Allan W Knaup, President and CEO, Columbus Retirement Administrators. "We must do these things in order to continue to be competitive in this age of fee consciousness and reporting. The Matrix/UBS relationship will allow TPAs to be more efficient and spend more time servicing our clients, which is the ultimate goal."
