The enforcement of the Department of Labor’s Prohibited Transaction Exemption (PTE) 2020-02 impacts IRA rollover advice. And, complying with the PTE comes with requirements for documentation, oversight practices, client communication, and more.
Plus, to provide you with added support for evolving IRA rollover regulations, Decision Optimizer comes with the independent expertise of the Pension Resource Institute (PRI).
Firms of all sizes can count on Decision Optimizer either out-of-the-box or configured based on firm needs and advisor preference. The user-friendly interface meets PTE 2020-02 requirements while introducing as little overhead as possible.
Your firm can choose to leverage PRI's written best practices as-is, or customize the specifics to fit your firm's unique needs. Either way, you will have the resources and support to comply with PTE 2020-02 and future IRA rollover requirements in a practical and streamlined way.
Highlights of Decision Optimizer include:
Subscriptions available for advisors that operate independently or as part of an enterprise
A single workflow, with customizable criteria for evaluating ERISA Plan/IRA transfers
Access to robust benchmarking data when actual plan documentation isn't available
Interactive advisor interface with real-time updates
Documentation of recommendations and client-friendly reports
The ability to include investor needs and current account features to the analysis to support the recommendation
Decision Optimizer promotes automation and efficiency
Information can automatically be sent to other applications through webhook capability:
Data collected in the analysis can be shared to a CRM or similar application
The PDF report can be sent to an application for storage, e-signature, or to be emailed to client
Technology Provider | Compliance
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 over 300k plans with over $1trillion 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 of 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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