CASE STUDY

Regal Holdings meets Reg BI compliance

The Client

For 20 years, independent broker-dealer Regal Financial Group (Regal) of Kentwood, Michigan has been dedicated to providing a full range of services for financial advisors and clients alike. As specialists in retirement planning, investment management, and multi-generational planning, Regal believes a client’s trust should be placed in the hands of knowledgeable and qualified experts.

The Challenges

Like many financial advisory firms, Regal was challenged with meeting compliance requirements for Regulation Best Interest with a remote workforce due to COVID-19.  Regal understood that the only way to quickly and efficiently overcome these challenges was by embracing technology. As Bill Best, COO of Regal stated, “Meeting Reg BI compliance with a remote workforce of advisors is only possible by using technology.”

The Solution

Meeting the Care and Disclosure Obligations of Regulation Best Interest

To help Regal’s advisors and associated persons meet Reg BI’s Care and Disclosure obligations, Regal deployed InvestorCOM PeerCompare to digitally compare ‘reasonably available alternatives’ when making investment recommendations.

Regal is also using  InvestorCOM ComplianceExpress to digitally deliver their investment recommendations, along with other key disclosures such as Form CRS to their clients, while maintaining individualized and firm-wide records of all client disclosures.

Regal Financial Group

“Meeting Reg BI compliance with a remote workforce of advisors is only possible by using a technology like this. We are impressed by InvestorCOM’s comprehensive solution.”

William Best
COO of Regal Holdings

Challenges

Meeting the Care Obligation of Regulation Best Interest

Meeting the Disclosure Obligation of Regulation Best Interest

Meeting compliance with a remote workforce due to COVID-19

Solutions

Identify and select Reasonably Available Alternatives with PeerCompare

Manage the disclosure and e-Delivery with Compliance Express

Applications Used

PeerCompare

ComplianceExpress

ShelfMonitor