Cetera today announced the launch of its Advisor Resiliency Pack, which consists of documentation resources and access to free or discounted technology and consulting services for its advisors.
Other third-party providers to RIAs and independent broker/dealers, including Orion Advisor Services, AdvisorPeak and Advicent have announced free access to technology in the past two days, though for any advisor in need.
Among the services offered is Advisor on Demand, which makes certified financial planners available for Cetera advisors who become ill, incapacitated or run into logistical issues during the pandemic. According to a Cetera statement, these CFPs are on standby as backup and can step in and help advisors with their clients free of charge during the pandemic.
There is also Peer Network Access, a face-to-face virtual video series that features advisor panels, fund managers and other experts, as well as curated resources. Similarly, Cetera has created the Stimulus Access Plan, which includes access to subject matter experts and dedicated consulting services and a “streamlined process for advisors to access the $2T stimulus capital resources,” according to the statement.
Finally, the firm is making available free or discounted technology access for its advisors. Cetera is helping advisors reach clients with expanded advice services by providing no-cost access to technology that supports a fee-for-service payment model for 90 days. According to a Cetera spokesperson, this refers specifically to the firm waiving the fee for use of AdvicePay.
Also, the firm has accelerated delivery of its “universal account opening” to more advisors as part of AdviceWorks, Cetera’s platform and workstation for advisors.
“It is a collaborative, digitized workspace for advisors and clients so we are conducting regular training via our Tech Talk series on how to best use those features given our virtual environment,” said Adriana Senior, Cetera’s head of communications.
In addition, the firm is giving its advisors discounted access to the premium version of videoconferencing service Zoom, along with training in how to use it in a compliant way.
