Date: 03.03.19

Cetera Advances the Advice-Centric Experience® With Fee-for-Service Offering for Advisors

Los Angeles, CA – Cetera announced today that it is enabling the delivery of an Advice-Centric Experience to a greater number of individuals through the new fee-for-service advice capabilities that it is offering its advisors. Advisors will be able to expand their practices to more clients, leveraging training offered by Cetera’s business consulting group and by using the AdvicePay technology platform for client payment processing.

Adam Antoniades, President of Cetera, said, “Cetera is committed to transforming the landscape of financial advice through the technology, tools and services we provide to advisors. We are transcending regulatory frameworks and moving past traditional ways of operating in order to bring an Advice-Centric Experience to more people, helping them achieve financial well-being at each life stage. Our fee-for-service platform will enable advisors to expand their payment model beyond investment management, allowing them to base their compensation strictly on the value of advice. This will help them grow their client base by appealing to generations X and Y with a subscription-based model, and by lowering the cost of entry and simplifying the transactional experience.”

Reid Johnson, a Certified Financial Planner affiliated with Cetera Advisor Networks, said, “Comprehensive financial advice has been the cornerstone of my practice, servicing hundreds of clients annually for nearly two decades. I am pleased to have consulted with Cetera to enhance the fee-for-service platform, which expands the scope of individuals advisors may effectively advise. Many people and organizations need sound financial advice, but traditional payment structures might preclude them from working with professionals. Cetera’s desire to innovate and collaborate with advisors on leading edge solutions is one of the biggest values of affiliation with the firm.”

The addition of AdvicePay’s eponymous payment processing service to Cetera’s leading suite of tools and services will allow clients to pay for fee-for-service advice in a much more streamlined and automated way. It will also provide clients with flexibility by enabling Cetera advisors to accept credit cards, debit cards, and Automated Clearing House (ACH) payments for their financial advice without the need for establishing an investment account first. Cetera will be rolling out its fee-for-service offering to advisors through small, controlled advisor pilot groups who will implement AdvicePay and leverage Cetera’s business consulting services for practice management.

“Cetera is leading the innovative reinvention of broker-dealers as hybrid platforms to support not just investment products, but a broader range of financial advice,” said Alan Moore, co-founder and CEO of AdvicePay. “Initiatives like their Advice-Centric Experience have the potential to significantly expand the breadth of clients Cetera serves, particularly amongst next generation clients, who are willing to pay for advice but until now haven’t had an effective way to engage fee-for-service advice. As our first enterprise client, we are delighted to provide Cetera with the capabilities AdvicePay can offer to enable their advisors to bring fee-for-service advice to their clients.”

About Cetera Financial Group®

Cetera Financial Group, Inc. ("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 one of the largest independent financial advisor networks in the nation by number of advisors, as well as a leading provider of retail services 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 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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