Cetera Financial Institutions significantly invests in technology capabilities and reaffirms commitment to self-clearing

LOS ANGELES, CA (October 16, 2014) – Cetera Financial Institutions, a leading provider of wealth management, brokerage and investment solutions for bank and credit union-based investment programs and financial advisors, today announced a significant investment in its technology capabilities and reaffirmation of its commitment to its unique self-clearing platform. Cetera Financial Institutions is the marketing name for Cetera Investment Services, a self-clearing FINRA member broker-dealer and registered investment adviser within Cetera Financial Group, the leading network of independent broker-dealer firms owned by RCS Capital (NYSE: RCAP), a full-service investment firm expressly focused on the retail investor.

Central to this investment in technology and reaffirmation of the platform’s commitment to self-clearing is the expansion of an ongoing strategic relationship that Cetera Financial Institutions has with Broadridge, an industry-leading provider of investor communications and technology-driven solutions for wealth management firms.

As part of this expanded relationship, Broadridge will deliver a range of enhancements to Cetera’s industry award-winning SmartWorks® online workstation for advisors as well as iconnect2invest, the firm’s client portal.  Collectively, these enhancements are aimed at creating efficiencies by streamlining existing self-clearing processes for Cetera Financial Institutions, providing increased functionality for clients, and acting as a springboard to deliver future operational enhancements that allow Cetera Financial Institutions to continue to grow and enhance its self-clearing platform.

R. Lawrence “Larry” Roth, Chief Executive Officer of Cetera Financial Group, said, “Both Cetera Financial Group and our parent company, RCS Capital, have an unwavering commitment to empowering the delivery of best-of-breed wealth management solutions among banks and credit unions through Cetera Financial Institutions.  The Cetera Financial Institutions self-clearing platform is unique within our network of broker-dealers, as is the firm’s focus on financial institutions.  Banks and credit unions throughout the country have enormous potential to meet the financial planning and wealth management needs of their customers, and we are excited to deliver the resources Cetera Financial Institutions needs to help these institutions and their financial advisors realize that potential.”

Catherine Bonneau, President and Chief Executive Officer, Cetera Financial Institutions, said, “As the first bank and credit union channel-focused independent broker-dealer to begin self-clearing, in 1990, it’s exciting to reaffirm our commitment to self-clearing as part of a broader set of technology innovations designed to reinforce our leadership in this market.  These major technology upgrades enable us to support an array of wealth management solutions among financial institutions today.”

Enhancements to the Cetera Financial Institutions platform include:

  • Access to Broadridge’s Investigo tool, which provides financial advisors with the capability to see advisory, brokerage, annuity and direct  assets in one holistic view, and to offer consolidated performance reporting
  • Access to Broadridge’s Ascendis technology providing straight through processing solutions, improving the firm’s ability to manage operational efficiency resulting in significantly streamlined data entry, exception handling and increased control over risk and compliance across the front, middle, and back office
  • Creation of automated trading and rebalancing program in partnership with both Broadridge and FolioDynamix
  • Client portal capabilities for trading and secure e-delivery of statements and investor communications
  • Ability to launch mobile-enabled capabilities by 2015, including tablet and mobile phone capabilities for both advisors and clients
  • Advanced analytics for client segmentation tools supported by hierarchical views for both financial advisors and investment program managers
  • Significant enhancements to the Cetera Financial Group network’s award winning Connect2Clients marketing program to better support outreach specifically for financial institutions concerned about declining branch traffic

Frieda Lewis, Managing Director at Broadridge, said, “We are excited to continue expanding our partnership with Cetera Financial Institutions, and to help launch the next chapter of development for the firm and the financial institutions it supports.  The technology initiatives that we are developing on behalf of Cetera Financial Institutions will reinforce its leadership in this space, and enhance the profitable growth of the investment programs and wealth management-related businesses of the banks and credit unions affiliated with its platform.”

Ms. Bonneau concluded, “From bank investment programs, to trust departments and bank-owned registered investment adviser firms, the wealth management needs of financial institutions are increasing in terms of scope and complexity, even as their options for strategic partners are decreasing.  With these moves, we believe we are positioning ourselves to be the service provider of choice to banks and credit unions of all sizes and structures who are seeking a forward-thinking partner who can help them grow on an accelerated basis within the wealth management space.”

About Cetera Financial Institutions
Cetera Financial Institutions is a marketing name of Cetera Investment Services LLC, a self-clearing registered broker-dealer who delivers customized investment and insurance solutions to nearly 500 financial institutions nationwide. Cetera Financial Institutions helps institutions expand their financial offerings, which allows clients to pursue their financial goals through a holistic approach while delivering sound and strong financial solutions. Through Cetera Investment Advisers LLC, an SEC registered investment adviser firm, financial advisors receive a wide array of solutions and back-office support, so that they can focus on their clients.

Cetera Financial Institutions and Cetera Investment Advisers LLC are members of Cetera Financial Group, the retail advice platform of RCS Capital Corporation (NYSE: RCAP), which provides leading wealth management and advisory platforms and innovative technology to over 9,700 independent financial advisors nationwide. Cetera Financial Institutions is a member of the Depository Trust and Clearing Corporation (DTCC), the Securities Investor Protection Corporation (SIPC), and the Financial Industry Regulatory Authority (FINRA). For more information, see

About Cetera Financial Group
Cetera Financial Group is the retail advice platform of RCS Capital Corporation (NYSE: RCAP). Comprised of Cetera Advisors LLC, Cetera Advisor Networks LLC, Cetera Financial Specialists LLC, Cetera Investment Services LLC (marketed as Cetera Financial Institutions), First Allied Securities, Investors Capital, J.P. Turner and Company, The Legend Group, Summit Brokerage Services, along with VSR Financial and Girard Securities following the close of their acquisitions by RCAP, the platform is the second largest independent financial advisor network 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. It delivers award-winning wealth management and advisory platforms, comprehensive broker-dealer and registered investment adviser services, and innovative technology to over 9,700 independent financial professionals and approximately 500 financial institutions nationwide. Through its distinct firms, Cetera offers the benefits of a large, established and well-capitalized broker-dealer and registered investment adviser, while serving independent and institutions-based financial advisors in a way that is customized to their unique needs and aspirations. Cetera is committed to helping advisors grow their businesses and strengthen their relationships with clients.

About RCAP
RCS Capital Corporation (NYSE: RCAP) is a full-service investment firm expressly focused on the individual retail investor. With operating subsidiaries including retail advice services, wholesale distribution, investment banking, capital markets, investment research, investment management and crowdfunding, RCAP business is designed to capitalize, support, grow and maximize value for the investment programs it distributes and the independent advisors and clients it serves. Additional information about RCAP can be found on its website at RCAP may disseminate information about itself, including the results of its operations and financial information, via social media platforms such as Facebook, LinkedIn and Twitter.

About Broadridge
Broadridge Financial Solutions, Inc. (NYSE:BR) is the leading provider of investor communications and technology-driven solutions for broker-dealers, banks, mutual funds and corporate issuers globally. Broadridge’s investor communications, securities processing and business process outsourcing solutions help clients reduce their capital investments in operations infrastructure, allowing them to increase their focus on core business activities.  With over 50 years of experience, Broadridge’s infrastructure underpins proxy voting services for over 90% of public companies and mutual funds in North America, and processes more than $5 trillion in fixed income and equity trades per day.  Broadridge employs approximately 6,700 full-time associates in 14 countries. For more information about Broadridge, please visit

Forward-Looking Statements
The statement in this press release include statements regarding the intent, belief or current expectations of RCAP and members of its management team, as well as the assumptions on which such statements are based, and generally are identified by the use of words such as “may,” “will,” “seeks,” “anticipates,” “believes,” “estimates,” “expects,” “plans,” “intends,” “should,” “look forward” or similar expressions. Actual results may differ materially from those contemplated by such forward-looking statements due to certain factors, including RCAP’s ability to integrate businesses acquired in recent and pending acquisitions into its existing businesses. Additional factors that may affect future results are contained in RCAP’s filings with the Securities and Exchange Commission (the “SEC”), which are available at the SEC’s website at Further, forward-looking statements speak only as of the date they are made, and we undertake no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time, unless required by law.

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