Why Financial Professionals Prefer PeerCompare Annuities
Comprehensive Analysis
The RAA Ranking Engine™
Configurable Guardrails
Fewest Clicks to Compliance
Built-in support for exchanges
Stronger supervision
Be confident that investment recommendations are truly in the client's best interest.
Move from manual forms to digital precision.
Complexity and costs make annuity recommendations difficult to scale. PeerCompare Annuities replaces manual, form-based workflows with a ‘proudly simple’ design interface. Whether it’s a 1035 exchange or a new policy, assess critical factors like costs and suitability in minutes, not hours.
Flexible application for multiple stakeholders and regulatory requirements
PeerCompare helps firms and financial professionals make best interest investment recommendations to retail investors.
- Investment advisors and broker-dealers are required to compare costs and reasonably available alternatives (Reg BI; SEC Staff Bulletin 4/23)
- Investment advisors must recommend the least expensive mutual fund share class available. (SEC Announcement 5/18)
- KYP and reasonable range of alternatives (Client Focused Reforms)
Track disclosure and facilitate supervision
When making an investment recommendation, use PeerCompare to perform a best interest analysis and to disclose and/or record the transaction for supervision and audit functions.
Use PeerCompare with ComplianceExpress to digitally share investment recommendations with your clients and record all activity – including when the disclosure was sent, received, and viewed.
Why technology is needed to make compliant recommendations
It is virtually impossible to meet the new best interest requirements without technology. Let’s look at a simple example:
In a typical day, a financial professional evaluates or makes five investment recommendations.
Her broker-dealer has an open product shelf of approximately 35,000 investment fund products. To meet Reg BI requirements, the advisor must consider a minimum of six data or suitability fields when considering reasonably available alternatives (RAA) including fees, risk, performance, time horizon, share class and fund series.
This will require processing over 1,000,000 data points – per day!
Top Data Challenge Facing Advisors
Meeting the Care Obligation may require advisors to consider one million data points per day.
The Future of Compliant Investment Recommendations
How can BDs demonstrate they are acting in the best interest of retail clients when making investment recommendations?
Reg BI’s Care Obligation and Reasonable Alternatives
Dealers should pay attention to consideration of Reasonably Available Alternatives when making a recommendation.
