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 taken to meet these requirements?

Rick Ohlrich [RO]: If you want consistency in a process you have to have repetition, like hitting a thousand golf balls a day. Whatever process you land on it’s got to be repeatable, and in my mind, if you want it to be good, you need to reduce the variables, you’ve got to reduce the steps in the process. A paper-based scheme just invites all sorts of variables: illegibility, missed inputs, manual transmission steps,… There’s all kinds of extra work involved in that.

We’ve talked about costs and analyzing alternatives, if it’s manual, somebody still has to do that math. I don’t know about you know but transposing numbers isn’t my thing, so I don’t like that as a solution. That’s where technology can assist in getting these consistent results so that you’re delivering on what you need to do from a regulatory standpoint and you’re not missing disclosures or analysis.

That’s where we’ve pivoted to, to get away from forms. Part of this was the delivery responsibility, you can use this technology that InvestorCOM is deploying to tell if the client received it via the email or if they opened it. There’s a lot of better ways when you’re using technology to establish your controls throughout your process. That to me is key.

I think you really are using technology in a lot of ways to cut down on potential disruptions that you’re going to have throughout your organization. There are all sorts of wins by leveraging technology and moving towards those types of solutions versus just another form.


Firms of all sizes are choosing RolloverAnalyzer to meet their PTE 2020‑02 requirements. Learn more about RolloverAnalyzer or request a demo.

If you enjoyed this article, you can listen to the full discussion online – Watch the replay of the webinar, PTE 2020-02: Regulatory Compliance, Technology and Growth Opportunities