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PTE 2020-02: Steps Firms Are Taking to Meet The PTE 2020-02 Requirements

InvestorCOM recently chatted with Rick Ohlrich, CCO at RFG Advisory to discuss practical steps to meet PTE 2020-02 requirements.   Parham Nasseri [PN]: Given that a specific requirement from PTEs FAQs requires an outright disclosure to the investor around why a rollover is in the investor’s best interest – what are some prudent steps you’ve […]

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PTE 2020-02: How to Get Ahead of the PTE’s Retrospective Review Process

InvestorCOM recently chatted with Tom Selman, founder of Scopus Financial Group for his insights on how to get ahead of the PTE 2020-02 annual retrospective review process.   Parham Nasseri [PN]: Tom, there’s been a notion that now there needs to be this retrospective review process. Just practically, or maybe even strategically, what does this […]

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Rollovers and Reasonably Available Alternatives: Insights from Industry Experts

InvestorCOM recently chatted with Tom Selman, Founder of Scopus Financial Group and Rob Dearman, CEO and Chief Innovation Officer at DCG Insight to discuss the history on rollover recommendations, the drivers behind the growth of the rollover market, and the why behind the regulatory requirement to evaluate reasonably available alternatives (RAA). Parham Nasseri [PN]: Tom, […]

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Best Interest Disclosure Requirements for Rollover Recommendations: A Summary

The U.S. Department of Labor’s (DOL) Prohibited Transaction Exemption 2020-02 (PTE 2020-02), Improving Investment Advice for Workers & Retirees has been in effect for more than a year. However, enforcement of the requirement to provide investors in writing of the specific reasons why a rollover recommendation is in their best interest has been deferred until […]

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The Rollover Tidal Wave Is Coming – Are You Ready

The Rollover Tidal Wave Is Coming – Are You Ready?

Rollovers from employer-sponsored plans are one of the greatest sources of dollars flowing into individual retirement accounts (IRAs), with more than half of retirees choosing an IRA rollover. According to a study by LIMRA’s Secure Retirement Institute, IRA rollovers represented about $565 billion in 2019 and swelled to $623 billion in 2020, with the wave […]

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PTE 2020-02: The Case for Deploying Compliance Technology

The Department of Labor’s (DOL) Prohibited Transaction Exemption 2020-02 (PTE 2020-02) has been in effect since February 2021, allowing financial professionals to receive compensation for rollover recommendations providing that their advice meets a set of best interest requirements. The DOL’s grace period for enforcing specific documentation and disclosure requirements will end on June 30, 2022. […]

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Leveraging compliance to grow your assets

Leveraging Compliance to Grow Your Assets

Our industry has seen a wave of compliance regulations in the last few years, often described as a tsunami. While the client-focused reforms (CFRs), considered to be the most significant wealth reform in decades, have added to the list of compliance challenges that advisors and firms face, they can also be leveraged for business growth. […]

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FINRA’s 2022 Exam Report Addressing Reg BI’s Care Obligation Gaps

FINRA’s 2022 Exam Findings: Reg BI and the Care Obligation

It has been almost two years since Regulation Best Interest (Reg BI) came into effect. Recently, the Financial Industry Regulatory Authority (FINRA) published their 2022 Exam Report. The report brings renewed attention to meeting the regulatory requirements, as it shows that many broker-dealers (B-Ds) are failing to address various aspects of Reg BI’s Care Obligation. […]

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How to Meet the DOL’s PTE 2020-02 Disclosure Requirements

How to Meet the DOL’s PTE 2020-02 Disclosure Requirements

Whether or not to roll over retirement savings from an employer-sponsored plan is one of the most important financial decisions an investor will make in his or her lifetime. When an investor rolls over an employer-sponsored retirement plan into an individual retirement account (IRA), the financial professional stands to benefit.  To ensure rollover recommendations are […]

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