Cetera Financial Group, a network of six independent broker-dealer firms, has launched a 401(k) practice development program for advisors currently serving retirement plans and those seeking to expand into this market.
The program was developed with Nationwide Financial and retirement plan advisory consultancy KnowHow 401(k), and features six live web-based training sessions held over the course of three months, covering topics such as marketing, business planning and meetings with plan sponsors.
“Cetera’s vision for empowering advisors to provide objective holistic guidance echoes in everything we do. This extends far beyond simply providing advice about investments to providing support for sponsors of and participants in company retirement plans – which, for many Americans, represent their most significant savings vehicle,” said Tim Stinson, head of wealth management for Cetera.
He added, “With plan sponsors increasingly searching for solutions that can help them meet their fiduciary responsibilities and maximize participant engagement, our new 401(k) practice development program provides both experienced advisors and those new to this market with the knowledge and tools they need to address these opportunities confidently and expand their retirement plan businesses.”
The training sessions will be conducted by KnowHow 401(k) founder and managing director Chris Barlow and are free for Cetera advisors. Enrolled advisors will also have access to KnowHow 401(k)’s resource center and will receive support during and after the program from Cetera’s retirement plan solutions consulting team to implement the strategies taught during the sessions, the company said.
Jon Anderson, Cetera’s head of retirement services, said “The response so far has been tremendous, with approximately 250 advisors attending each of our first couple of live training sessions and providing overwhelmingly positive feedback. We are very excited to work alongside Nationwide Financial and KnowHow 401(k) to bring this vital new offering to our advisors.”
Cetera Financial Group is the second-largest independent financial advisor network in the nation by number of advisors, as well as a leading service provider to the investment programs of banks and credit unions. Cetera’s network includes Cetera Advisors, Cetera Advisor Networks, Cetera Investment Services (marketed as Cetera Financial Institutions), Cetera Financial Specialists, First Allied Securities and Summit Brokerage Services.