Advisors can now meet their regulatory obligations by staying on top of significant changes to investment products in their book of business.

 

Toronto, ON, September 27, 2022 – InvestorCOM, a leading regulatory software provider to the wealth management industry, today announced that its product shelf monitoring application now includes powerful new capabilities that will help advisors meet the Client Focused Reform’s (CFR) Know Your Product (KYP) obligations.

InvestorCOM ShelfMonitor was originally developed to help investment dealers assess, approve and monitor the investment products on the firm’s shelf, a specific requirement of the CFRs.

Now firms can configure ShelfMonitor for advisors to monitor their book of business and get alerted when investment products held by their investors experience significant changes, for instance when a mutual fund or an ETF’s risk rating increases or when fees rise. Advanced configuration capabilities make it easy to filter on what matters most.

A firm’s product shelf is constantly changing. Recent research from InvestorCOM that examined 12-months of ShelfMonitor data showed that across 62 CIFSC categories, more than 2,000 changes for mutual funds and 25 for ETFs were found, which is more than what the company expected. Specifically, 1,135 mutual fund and 65 ETF prospectus risk rating changes were reported, of which 55% and 52% respectively were risk rating increases.

“Staying on top of changes to your client’s product portfolio is very important from a regulatory aspect and to investors who want to be assured that their advisor is acting in their best interest,” said Dave Carr-Pries, VP Consulting Services at InvestorCOM. “The only way to quickly find out when a fund inside a client’s portfolio changes is by using proven technology like ShelfMonitor.”

Since it’s debut in 2020, ShelfMonitor has continued to evolve. Last year, a new capability called ShelfAnalyzer was added for firms to easily evaluate how their products, including mutual funds, segregated funds, ETFs, equities, liquid alternatives, and variable annuities, stack up against their peers using key cost, ri­­sk, and return characteristics. A peer rating is automatically generated for each product, enabling firms to intelligently assess the competitiveness of their shelf.

ShelfMonitor is a core component of InvestorCOM’s compliance platform, which is used by firms and advisors to meet their regulatory requirements in both the US and Canada, specifically the Client Focused Reforms, Regulation Best Interest and PTE 2020-02. In addition to ShelfMonitor, applications on the platform include PeerCompare for assessing a reasonable range of alternatives, ComplianceExpress, a document disclosure and delivery engine and RolloverAnalyzer, an intuitive application for making best interest rollover recommendations. The platform is available in both English and French.

Firms that are interested in learning more about the capabilities of ShelfMonitor are invited to sign up for a demo to learn more.

 

 

About InvestorCOM Inc.

Since 1992, InvestorCOM has been providing regulatory compliance software and communications solutions to wealth managers, asset managers, and insurers. Our high value, intuitive solutions eliminate compliance risk for our clients.  For more information, visit www.InvestorCOM.com, email info@investorcom.com or call 1-800-361-9494.

 

###

For more information:

 
Karen Makedon
VP, Marketing
InvestorCOM Inc.
Tel: 1-800-361-9494
Email: media@investorcom.com