[Ucrea] Unauthorized Financial Solicitations Alert

[Cristina L Otegui]

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April 8, 2022
To:
UCR Emeriti & Retirees

From:
HR Benefits Office on Behalf of UC Office of the President (UCOP)

Re:
Unauthorized Financial Solicitations Alert

UCOP has been notified that unauthorized financial solicitations have been reaching UC retirees 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:

Online articles and email publications

*        Alert: Be Careful About Financial Advisor Solicitations article can be viewed at: https://www.myucretirement.com/Resource/220.



*        UC Retirees New Dimensions May 2022 issue will be viewable once available at: https://ucnet.universityofcalifornia.edu/retirees/new-dimensions/index.html.

Below is the alert message that was added on the myUCretirement.com webpage for easy reference:
Be careful about financial adviser solicitations
UC retirees 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 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) at: https://adviserinfo.sec.gov/, an official US Government site, at https://adviserinfo.sec.gov/.


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