RolloverAnalyzer™ enables financial professionals to consistently document and disclose rollover recommendations.
InvestorCOM, the leading provider of regulatory compliance software and communications solutions for the financial services industry, launched RolloverAnalyzer™ a cloud-based application for rollovers to help financial professionals comply with the SEC’s Reg BI and the Department of Labor’s (DOL) PTE 2020-02.
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The DOL and the SEC are increasingly focusing on rollover recommendations and their impact on investors. While the SEC encourages documentation and client disclosure, the DOL’s PTE 2020-02 makes it an explicit requirement.
InvestorCOM’s RolloverAnalyzer was developed to make this important and complex recommendation process intuitive. The cloud-based application enables financial professionals to compare and analyze their investment recommendations against the plan owner’s current portfolio based on Service, Client Fit and Costs. For each rollover recommendation, the financial professional can analyze the recommendation and leverage RolloverAnalyzer’s algorithm to generate ‘reasons why’ to support the financial professional’s decision-making. For each recommendation, a digital client disclosure document is sent to the client. All aspects of the transaction are stored for record-keeping purposes.
RolloverAnalyzer is fully integrated with InvestorCOM’s PeerCompare™ and ComplianceExpress™, offering a single, powerful solution to meet both Reg BI and DOL PTE 2020-02 obligations.
“RolloverAnalyzer enables financial professionals and wealth management firms to meet stringent regulatory requirements,” said Parham Nasseri, VP of Regulatory Strategy at InvestorCOM. “The application is simple and intuitive; compliance teams love it as it enables a consistent documentation and disclosure process that can be quickly implemented across the entire wealth management firm.”
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