[UCRDBR] Unauthorized Financial Solicitations Alert

[Departmental Benefits Representatives]

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April 6, 2022

To:
Department Benefit Representatives
From:
HR Benefits Office on behalf of the UC Office of the President
Re:
Unauthorized Financial Solicitations Alert
UCOP has been notified that unauthorized financial solicitations have been reaching UC employees from several different campuses. To help clear the confusion that these misleading communications have caused, an alert message has been posted in the following websites and publications:

If UC employees receive suspicious emails from financial advisers, they should be directed to the following resources:

Online Articles

*       UCnet: https://ucnet.universityofcalifornia.edu/news/2022/03/be-careful-about-financial-adviser-solicitations.html
Email Publications

*       UC Employees: UCNetwork (April 2022 issue)
Excerpt - UC Alert Message
Be careful about financial adviser solicitations
UC employees have recently reported unauthorized and misleading financial adviser solicitations. These messages, delivered through emails, invitations, and cold calls, often purport to help with retirement planning. Most are intentionally misleading and suggest that UC is endorsing their services.

It is easy to confuse these unauthorized advisers with UC-contracted financial planning services. To be clear, UC contracts exclusively with Fidelity Investments for all financial education and guidance services through a dedicated team that is well-versed in UC retirement benefits and can meet UC members onsite or over the phone. UC does not support any other financial planning service provider. Anyone interested in having a one-on-one consultation with a Fidelity Investments dedicated workplace financial consultant can call (800) 558-9182 or make an appointment at getguidance.fidelity.com/universityofcalifornia<https://digital.fidelity.com/prgw/digital/wos/one-on-one?planSponsorId=700003>.

If you prefer to consult an outside investment adviser, it is important to do your research. Always ask for and carefully read the adviser's "Form ADV", which registered investment advisers (RIA) must complete to register and file with the Securities and Exchange Commission and/or state securities regulators. The Form ADV reports each RIA's professional background, including business, ownership, clients, employees, business practices, affiliations, current registrations, employment history, and disclosures about certain disciplinary events involving the individual.

You can view an adviser's most recent Form ADV online by visiting Investment Adviser Public Disclosure (IAPD)<http://www.adviserinfo.sec.gov/>, an official U.S. Government website, at adviserinfo.sec.gov<https://adviserinfo.sec.gov/>.
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