In the fast-paced world of financial services, staying compliant with regulations while ensuring the best outcomes for clients can be challenging. One of the key regulatory requirements is the retrospective review process, particularly in the context of rollover activities. This is where InvestorCOM’s Compliance Dashboard becomes an invaluable tool, providing comprehensive insights and actionable data to simplify and optimize the review process. 

Actionable Data for Periodic Supervision

InvestorCOM’s Compliance Dashboard is designed to support clients by offering a graphical overview of their rollover activities. The dashboard highlights both volume- and risk-based metrics, ensuring that Compliance teams have clear oversight and can identify areas that potentially require enhanced supervision. 

• Volume-Based Metrics: These include the number of rollovers categorized by recommendation type and by Financial Professional (FP)/Advisor. This allows firms to easily monitor and track the distribution of rollover activities across different advisors and types of recommendations. 

• Risk-Based Metrics: Indicators such as the number of emails sent but not opened, emails opened but documents not opened, and the source of plan data used in rollovers. These metrics are critical for identifying potential compliance risks, such as over-reliance on industry averages or recommendations that may not be in the client’s best interest. Specific areas of concern for Compliance teams typically include lower service scores, lower fit scores, and worse cost combinations. 

Identifying and Addressing Compliance Gaps 

One of the standout features of the Compliance Dashboard is its ability to query rollover analysis transactions by client. This enables firms to compare rollover data against open accounts, making it easier to identify any discrepancies or gaps where accounts may have been opened without a proper rollover analysis (RA) recommendation. This capability is crucial for pinpointing issues with FP/Advisor adherence to policies and procedures, ensuring that all rollovers are conducted in line with regulatory requirements. 

Deep Dive with Data Export and Drill-Down Features 

The dashboard isn’t just about high-level metrics; it also allows users to drill down into specific sections to retrieve and export raw data. This is particularly useful for further research or outreach with FPs/Advisors, as it provides the granular details needed to address any issues uncovered during the review process. Additionally, the dashboard’s date range functionality ensures that the data aligns with your firm’s supervision procedures, making it easier to track changes over time and stay on top of ongoing compliance requirements. 

Simplifying Documentation with PDF Export 

Finally, the Compliance Dashboard offers a simple way to document and report on your findings. Users can export the dashboard and save it as a PDF, allowing them to include key metrics in their required Retrospective Review documentation. This not only streamlines the review process but also ensures that all necessary data is captured and presented in a format that is easy to share and review. 

Conclusion 

InvestorCOM’s Compliance Dashboard is more than just a compliance tool; it’s a comprehensive solution designed to assist firms in navigating the complexities of the retrospective review process. By providing actionable insights, enabling deep data analysis, and simplifying documentation, the dashboard empowers firms to maintain regulatory compliance while ensuring the best possible outcomes for their clients. If you’re looking to enhance your rollover supervision and retrospective review processes, the Compliance Dashboard is an essential tool to consider.