Leverage Broadridge and the Pension Resource Institute to Support Your IRA Rollover Compliance and Oversight Needs
In response to Prohibited Transaction Exemption 2020-02 (PTE 2020-02), we are enhancing our ‘Decision Optimizer’ solution.
When we launched Decision Optimizer in July 2020, it was to address these new rollover requirements presented by RegBI. Since we expect IRA Rollover regulations to continue to evolve over time, we have entered into a long-term partnership with the Pension Resource Institute (PRI) to address PTE 2020-02 and future IRA Rollover regulatory changes.
Decision Optimizer, which is configurable by enterprise, provides an interactive interface for an advisor to discuss and visually evaluate the merits of rolling over to an IRA or staying within the 401(k) plan. It results in a client-friendly report that documents this decision.
When using the solution, you can rely on the independent compliance and regulatory expertise of PRI or can make adjustments to meet your specific needs.
Highlights of Decision Optimizer include:
- A single workflow, with customizable criteria for evaluating ERISA Plan/IRA transfers
- Consideration of the importance of each criterion to the investor and the relative differences of each option
- Highly interactive, real-time updates to overall preference, based on all criteria scored
- Client facing documentation summarizing the analysis, including the proper attestations based on whether advice was given or not
Beyond the Decision Optimizer Software
Plan Benchmark Data
When actual 401k plan data isn’t available, advisors need a reasonable alternative benchmark. Our methodology leverages aggregated anonymized data associated with ~140k plans with over $700B in AUM and RFP insights; ensuring an acceptable benchmark is available when 5500 data is incomplete.
Data from rollover analyses completed in our Decision Optimizer flow into our enterprise business intelligence tool. This allows home offices to easily complete retrospective reviews and identify outliers.
Training & Education
Various forms training, on both the regulation and our solution, are available for enterprise clients. Fi360 and PRI are collaborating on these trainings in the context of our long-term partnership. Our learning management system allows for tracking of advisors trained (including requiring a quiz to pass if desired).
Let’s get started!
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