Cetera has announced that 401(k) participant advice is now available to clients of Cetera’s advisors through its new fee-for-service payment model.
According to a press release, with the launch of this new capability, billing for financial planning services can now be done more holistically, bundling 401(k) participant advice along with other financial advice and consulting services in a single payment.
Fee-for-service payment models that provide the option for a one-time or subscription-based payment allow Cetera advisors to broaden access to an Advice-Centric Experience to more investors nationwide. The firm explains that this helps advisors grow their client base by appealing to Generations X and Y, by lowering the cost of entry and simplifying the transactional experience.
Earlier this year, Cetera announced the launch of a program for advisors who wish to move toward a fee-based model, which provides technology and business consulting services. Cetera leverages the AdvicePay technology platform for electronic payment processing and subscriptions.
