Tag: PTE 2020-02

PTE 2020-02: The Case for Deploying Compliance Technology

The Department of Labor’s (DOL) Prohibited Transaction Exemption 2020-02 (PTE 2020-02) has been in effect since February 2021, allowing financial professionals to receive compensation for rollover recommendations providing that their advice meets a set of best interest requirements. The DOL’s grace period for enforcing specific documentation and disclosure requirements will end on June 30, 2022. […]

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Davenport & Company

Davenport & Company LLC Selects InvestorCOM to Meet Reg BI and PTE 2020-02 Regulatory Requirements

Wealth management firm using InvestorCOM to digitize the assessment of reasonably available alternative product recommendations and best interest rollover recommendations.   Toronto, ON, April 21, 2022 – InvestorCOM, a leading regulatory software provider to the wealth management industry, today announced that Davenport & Company LLC, a leading wealth management and financial advisory firm, is using […]

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AISG Chooses InvestorCOM to Digitize Rollover Recommendation Process

American Independent Securities Group Chooses InvestorCOM to Digitize Rollover Recommendation Process

AISG will use InvestorCOM RolloverAnalyzer to make best interest rollover recommendations in compliance with PTE 2020-02.   Toronto, ON, April 14, 2022 – InvestorCOM, a leading regulatory software provider to the wealth management industry, today announced that American Independent Securities Group LLC (AISG), an independent broker-dealer, has selected InvestorCOM to digitize their rollover recommendation process […]

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How to Meet the DOL’s PTE 2020-02 Disclosure Requirements

How to Meet the DOL’s PTE 2020-02 Disclosure Requirements

Whether or not to roll over retirement savings from an employer-sponsored plan is one of the most important financial decisions an investor will make in his or her lifetime. When an investor rolls over an employer-sponsored retirement plan into an individual retirement account (IRA), the financial professional stands to benefit.  To ensure rollover recommendations are […]

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Reg BI and PTE 2020-02 The Perfect Regulatory Storm

Reg BI and PTE 2020-02: The Perfect Regulatory Storm

Two major regulatory changes are currently bearing down on financial professionals and broker-dealers. Regulation Best Interest (Reg BI) came into effect on June 30, 2020, requiring that broker-dealers and financial professionals ensure their recommendations are in a client’s best interest. This means evaluating recommendations based on cost, risk and return factors; considering reasonable alternatives; disclosing […]

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PTE compliance deadline

A Manual Compliance Process is Not Enough: Fiduciary Rule 3.0 and PTE 2020-02

The window for firms to meet compliance for PTE 2020-02 is getting shorter. In October 2021, the DOL stated that all proper processes need to be in place by January 31, 2022 and documentation and disclosure by June 30, 2022. InvestorCOM hosted a roundtable event “Preparing for PTE 2020-02” which facilitated a collaborative discussion with […]

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Making Compliant Rollover Recommendations

ON-DEMAND WEBINAR The SEC and DOL are continuing to focus on rollover recommendations and their impact on investors. The DOL’s Fiduciary Rule and PTE 2020-02 requirements, enforceable on December 21, 2021, will perhaps become the new industry standard going forward. Meet your rollover requirements with confidence. Access this on-demand webinar to hear our panel of […]

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How to Recommend Variable Annuities with Confidence

Data and Technology Challenges When Meeting Fiduciary Rule 3.0 Obligations

The PTE 2020-02 deadline is coming up, and firms must ensure that they have the proper processes by January 31 2022, and documentation and disclosure in place by June 30, 2022. To address the industry’s questions and concerns, and to share approaches firms are taking to meeting compliance, InvestorCOM recently hosted a roundtable event “Preparing […]

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Approach Fiduciary Rule 3.0 and PTE 2020-02 with a Long-term Lens

Approach Fiduciary Rule 3.0 and PTE 2020-02 with a Long-term Lens

December 20 is just around the corner, which means time is quickly running out to meet compliance for PTE 2020-02. In preparation for the looming deadline, InvestorCOM recently hosted a roundtable event “Preparing for PTE 2020-02” to address the industry’s questions and concerns, and to share approaches firms are taking to meeting compliance. One interesting insight […]

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When Making Rollover Recommendations, Is Educating Investors Enough

When Making Rollover Recommendations, Is Educating Investors Enough?

When it comes to making best interest rollover recommendations, some financial professionals and their respective wealth management firms are evaluating whether an educational or an advice-based approach is needed to meet the Department of Labor’s (DOL) Prohibited Transaction Exemption (PTE) 2020-02 requirements. For context, the DOL’s PTE 2020-02, “Improving Investment Advice for Workers & Retirees,” is […]

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