Date: 06.26.19

Cetera Furthers Strategy to Make Retirement Plans Easier with 3(38) Investment Fiduciary Manager Program

Los Angeles, CA – Cetera® has furthered its promise to make servicing retirement plans easier for advisors with the launch of its 3(38) Investment Fiduciary Manager Program. Advisors can offer their retirement plan clients 3(38) services, which will enable Cetera to take on an ERISA 3(38) fiduciary role. Advisors will be able to better serve their clients by offering this service as it frees up their resources to focus on the important work of managing relationships and engaging plan participants instead of spending valuable time analyzing the plan’s investment lineup.

“A recent Cerulli study1 found that having sufficient retirement income is often among clients’ primary concerns yet many firms lack the adequate solutions to help clients plan in advance,” said Cetera’s Head of Retirement Plan Solutions, Jon Anderson. “When advisors spend their in-office resources selecting, monitoring and replacing investment lineups, their focus is shifted away from nurturing relationships, educating participants and being available to plan participants, who may need help properly planning for their financial futures and could benefit from working with an advisor. Advisors who are Investment Advisor Representatives can deliver the Investment Fiduciary Manager service to plan sponsors through a single agreement that covers the entirety of their engagement with the plan. With this program, Cetera has simplified and streamlined the process for everyone involved.”

Upon initial launch, the 3(38) Investment Fiduciary Manager Program will be available with the following recordkeeper platforms: American Funds, Ascensus, Empower Retirement, John Hancock, and Principal. Cetera plans to expand the number of platforms that support this program. Mesirow Financial’s fiduciary automation technology (Mesirow Financial FAST® ) serves as the integration and communication engine behind the program.

Cetera’s specialty-focused retirement plan solutions team assists advisors in providing innovative retirement solutions to their clients. Areas of focus are advanced plan design, administration, request for proposal support and comprehensive wealth management support to enable advisors to deliver an Advice-Centric Experience® to future and current retirees across America.

1 Cerulli Associates – The Cerulli Report | U.S. Advisor Metrics 2018 (Exhibit 4.06)

About Cetera Financial Group®

Cetera Financial Group ("Cetera") is a leading network of independent firms empowering the delivery of professional financial advice to individuals, families and company retirement plans across the country through trusted financial advisors and financial institutions. Cetera 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.

Through its multiple distinct firms, Cetera offers independent and institutions-based advisors the benefits of a large, established broker-dealer and registered investment adviser, while serving advisors and institutions in a way that is customized to their needs and aspirations. Advisor support resources offered through Cetera include award-winning wealth management and advisory platforms, comprehensive broker-dealer and registered investment adviser services, practice management support and innovative technology. For more information, visit cetera.com.

"Cetera Financial Group" refers to the network of independent retail firms encompassing, among others, Cetera Advisors, Cetera Advisor Networks, Cetera Investment Services (marketed as Cetera Financial Institutions), Cetera Financial Specialists, First Allied Securities and Summit Brokerage Services. All firms are members FINRA / SIPC.

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