On October 31, 2023, the Department of Labor (DOL) proposed a new rule aimed at “Improving Investment Advice for Workers & Retirees”. InvestorCOM hosted a webinar, with the wealth industry’s most trusted and seasoned experts, to discuss this new proposal. Prior to the webinar, InvestorCOM asked our webinar attendees the following poll questions. Here are the results.
Read More
The third week of October 2023 marked a momentous occasion for me. It was my first ever attendance at the National Society of Compliance Professionals conference, and I must say, it did not disappoint.
Read More
Rollovers from employer-sponsored plans are one of the greatest sources of dollars flowing into individual retirement accounts (IRAs), with more than half of retirees choosing an IRA rollover. According to a study by LIMRA’s Secure Retirement Institute, IRA rollovers represented about $565 billion in 2019 and swelled to $623 billion in 2020, with the wave […]
Read More
On-Demand Webinar With the Department of Labor’s PTE 2020-02 deadline approaching and the SEC’s Reg BI examinations ramping up, some firms may be tempted to address the regulatory requirements using manual or band-aid solutions. Watch this on-demand Webinar to hear industry-leading compliance and regulatory practitioners discuss the opportunities and challenges related to meeting the […]
Read More
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. […]
Read More
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 […]
Read More
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 […]
Read More
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 […]
Read More
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 […]
Read More
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 […]
Read More
