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Alert: Be careful about financial adviser solicitations

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At UC, we take great care and pride in helping our faculty and staff manage their retirement assets.  Our commitment to offering the best programs and services includes offering high value investment options through the Retirement Savings Program, as well as providing comprehensive resources to help with retirement decisions and successful transitions. 

As such, we want to let you know about a large number of unauthorized and misleading financial adviser solicitations to employees reported across the UC system. 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’s 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 with faculty and staff onsite or over the phone.  Anyone interested in having a one-on-one consultation with a UC-dedicated retirement planner can call 1-800-558-9182 or make an appointment at getguidance.fidelity.com/universityofcalifornia.

If you prefer to consult an outside investment adviser, it’s 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), an official US Government site.

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