Make it easy for your advisors to demonstrate they are acting in the best interest of retail clients. PeerCompare generates a product peer group of reasonably available alternatives comparing cost, risk and return. Deliver compliant investment recommendations to investors, while tracking all activity and relevant notes.
Be confident that your advisors' recommendations are truly in the client's best interest.
An intuitive app that fits in to your advisor's existing workflow.
Identify, compare and recommend suitable investments
How do you know if your advisors’ recommendations are truly in the client’s best interest?
PeerCompare provides advisors with an accurate picture of how their investment recommendation stacks up against its peers.
It generates a product peer group based on similar products on your shelf – including Mutual Funds, ETFs, Seg Funds and Variable Annuities.
Advisors have a clear picture of how their recommendations compare on cost, risk and return – providing them the opportunity to change their recommendations or share them with her client.
Track disclosure and facilitate supervison
When advisors are making an investment recommendation, they 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 investors and record all activity – including when disclosure was sent, received, and viewed.
Why advisors require technology 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 an advisor 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.
