BrokerConnect™

Broker connectMany investors prefer individual advice provided by a financial professional they know and trust.  Up until now, it has been difficult for brokers to get compensated on advice provided to clients inside of their 401(k) plans.  BrokerConnect™ provides a platform for financial advisers to be compensated for advice on all accounts, including 401(k) plan assets, providing participants with the advice they need to make informed decisions.

Through BrokerConnect™, String Financial™ handles data delivery and compensation, while Participants maintain complete control over access to their StringAccount™.  Both the financial adviser’s level of access (from simply able to view an account to the ability to transact on a participant’s behalf) and the compensation arrangement, can be customized on an account by account or even a security by security basis.

BrokerConnect™ is more than a mechanism for facilitating broker compensation.  It also helps advisers better manage their book by providing alerts on client contribution and investment changes, changes in fund objectives/management/fees, and price targets.

Clients do not always remember to tell their financial advisers when their circumstances or goals have changed.  By keeping advisers in the loop on client actions (e.g. a change in 401(k) contribution rate), BrokerConnect™ ensures advisers know as soon as a client drifts from the current investment strategy.  This gives the adviser an opportunity to reach out to the client to ask questions and see what changes to the strategy may need to be made.  Clients benefit by avoiding mistakes and ensuring their strategy best reflects their retirement planning objectives, and brokers benefit by increased client satisfaction, retention, and likely referrals.

Visit the broker dashboard to see the features and functionality available to financial advisers.

 


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