Compliance requires a series of specific actions  when making recommendations for IRA transfers and plan rollovers. These actions apply to each recommendation made, must be documented and shared with the investor, and audited on an annual basis in order to comply. In terms of reach, these rules are impacting nearly every firm in the wealth management space driving the need for new technology solutions.

The 5-step best interest process required by the DOL to make a rollover recommendation

✓ Information about the participant’s investment profile (i.e., the “relevant” information about the participant);

✓ Information about the plan’s investments, services and expenses;

✓ Information about the potential IRA’s investments, services and expenses;

✓ A best interest analysis of the plan and IRA information in light of the participant’s profile; and

✓ The specific reasons, in writing, why the rollover recommendation is in the best interest of the participant.

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Regulation Drives Change

Fiduciary Decisions offers you a pathway to compliance that is also easy and intuitive for your advisors.
We do this through the platform to analyze, document, and provide a compliant rollover recommendation
report to use with your clients. Using technology, data, and exceptional customer service we:

✓ Document the needs of your client

✓ Identify and document current account

✓ We provide a thorough analysis of your services and fees

✓ We produce a rollover recommendation report that can be tailored to your organization (your logo, additional disclosures, form CRS.

✓ Compliance and audit reports for retrospective annual reviews

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Rollover Decision Support System

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What We Do

Document the needs of your client
Identify and document current account
We provide a thorough analysis of services and fees
We produce a rollover recommendation to give you a configurable output

Overview of the services we offer:

Document the needs of your client

Best in class tool to analyze the needs and preferences of your client with easy-to-use client output.

Identify and document current account

Use our system to search for Retirement Plans and add details. Benchmarking data also available if needed. For IRA transfers, our system offers an investment search/fee entry capability which helps you define the current account in support of your recommendation.

We provide a thorough analysis of services and fees

We gather data from your client or leverage FDI’s industry leading benchmarking data and methodology for use in the analysis. In addition, our solution enables you to describe in detail your services.

We produce a rollover recommendation to give you a configurable output

Our tool provides a framework for you to recommend the best path forward for your client and provides the supporting information for the recommendation.

Retrospective Annual Review

On-demand and annual compliance and audit tools

WHY RDSS IS RIGHT FOR YOU

Rollover Basics
Under SEC Reg BI and DOL PTE 2020-02

The Key Steps for Compliance:

Information about the participant’s investment profile (i.e., the “relevant” information about the participant)

✓  Reg BI

✓  PTE 2020-02

RDSS Helps You Comply:

Easy to use tool to analyze your clients’ needs and preferences when assessing potential rollovers from retirement plans or other IRAs to your firm.

Information about the plan’s investments, services and expenses

✓  Reg BI

✓  PTE 2020-02

RDSS Helps You Comply:

For prior retirement plan information, utilize our easy-input tool to document actual fees, or leverage our patented benchmarking process for data.

Information about the potential IRA’s investments, services and expenses

✓  Reg BI

✓  PTE 2020-02

RDSS Helps You Comply:

During the analysis, leverage FDI’s solution to describe in detail your IRA services and fees.

A best interest analysis of the plan and IRA information in light of the participant’s profile

✓  Reg BI

✓  PTE 2020-02

RDSS Helps You Comply:

RDSS presents summary analysis for internal review prior to making recommendation.

The specific reasons, in writing, why the rollover recommendation is in the best interest of the participant

ø  Reg BI

✓  PTE 2020-02

RDSS Helps You Comply:

Compliant client output tailored to your firm. Incorporate your branding, firm disclosures, and form CRS (optional) to deliver the required disclosure to your clients.

Plus – Retrospective Annual Review

ø  Reg BI

✓  PTE 2020-02

RDSS Helps You Comply:

Retrospective Annual Review: All data and client output is stored indefinitely and incorporated into a simple, year-end compliance file to facilitate audit requirements.

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