With Addition of AccountCompare, COMPLY Delivers COMPLY Fiduciary Suite to Address Duty of Care, Reg BI, and DOL PTE 2020-02 Requirements
2024年7月18日 - 2:40AM
COMPLY, the only compliance solution provider with holistic
software and service offerings across employee and firm compliance,
today announced the launch of AccountCompare, a solution which
makes it easy for firms to compare, track, and disclose investment
account type recommendations based on a client’s profile. With this
latest addition, delivered in partnership with InvestorCOM, COMPLY
has launched the COMPLY Fiduciary Suite, which makes
AccountCompare, PeerCompare, and RolloverAnalyzer available via a
unified offering.
The COMPLY Fiduciary Suite arms financial firms with a
comprehensive offering to address fiduciary duty from account
recommendations to products and rollovers, enabling Investment
Advisers to adhere to the Duty of Care obligations under the
Investment Advisers Act of 1940 and the Department of Labor’s
Retirement Security Rule, and keeping Broker-Dealers in compliance
with Regulation Best Interest.
“Today, both RIAs and Broker-Dealers are subject to specific
obligations pertaining to investment advice they provide to
clients. The SEC has stated in a Staff Bulletin that both
Investment Advisers and Broker-Dealers are expected to maintain
similar standards,” said David Bliss, COMPLY Chief Product Officer.
“However, for many firms, a lack of certainty continues to plague
due diligence processes. The introduction of our comprehensive
COMPLY Fiduciary Suite supports more holistic compliance
functionality, allowing teams to capture and disclose the best
interest rationale for investment recommendations across a range of
account types. These disclosures educate and inform clients,
protect the firm, and comply with regulatory requirements.”
“The COMPLY Fiduciary Suite, powered by InvestorCOM, takes the
guesswork out of assessing account types, rollover, and product
recommendations,” said Parham Nasseri, InvestorCOM President. “With
continued regulatory focus on Adviser’s Duty of Care, Duty of
Loyalty, Reg BI, and DOL PTE 2020-02, firms are under growing
pressure to embrace technological solutions that foster compliance
and propel growth."
With COMPLY Fiduciary Suite, financial professionals can now
efficiently and effectively demonstrate the fiduciary duty of care,
ensure client confidence in investment recommendations, comply with
regulatory requirements, and build documentation to protect the
firm against risk, all from a single platform. Three solutions make
up this dynamic offering:
- AccountCompare: Compares investment
account-type recommendations against the client’s profile
- PeerCompare: Compares investment
product recommendations against reasonably available
alternatives
- RolloverAnalyzer: Analyzes rollover
recommendations against cost, service, and fit criteria
“The dynamic nature of compliance demands comprehensive
compliance solutions which enable data-driven risk mitigation
strategies,” said Michael Stanton, COMPLY Chief Executive Officer.
“The launch of COMPLY Fiduciary Suite exemplifies the impact such
technology offers firms of all sizes. Disparate solutions no longer
serve as effective means for compliance automation. However, with
integrated solutions, which leverage a single unified platform,
firms can holistically assess risk and address evolving regulations
at scale.”
COMPLY Fiduciary Suite captures the best interest rationale for
investment recommendations and generates compliant disclosures, all
stored in a central repository. Combining the newly launched
AccountCompare with PeerCompare and RolloverAnalyzer, COMPLY
Fiduciary Suite increases efficiency, simplifies compliance
processes, and reduces risk while offering cost savings of 18%
compared to purchasing tools separately. The COMPLY Fiduciary Suite
is available today. Learn more at COMPLY.com.
About COMPLYCOMPLY, the only compliance
solution provider to deliver employee and firm compliance software,
services, education, and support in one comprehensive offering,
enables firms to scale their growth while remaining vigilant in
their compliance efforts. As the global market leader and premier
compliance partner, COMPLY’s innovative solutions are designed to
manage the burden of complex compliance tasks for firms large and
small. Our deep bench of industry expertise – which includes
expansive knowledge in technology enablement and regulatory
compliance protocols and processes – supports more than 7,000
clients, including investment management firms, private equity
firms, hedge funds, broker-dealers, registered investment advisers,
and other financial service sector participants.
COMPLY continually supports clients in their work to proactively
address core compliance challenges – minimizing risk, addressing
critical priorities, and meeting new demands as the industry
evolves and the firm scales. Learn more at COMPLY.com.
About InvestorCOM
Since 1992, InvestorCOM has been providing regulatory compliance
software and communications solutions to wealth managers, asset
managers, and insurers. Our high value, intuitive solutions
eliminate compliance risk for our clients and foster better
financial decisions. For more information, visit
www.InvestorCOM.com, email info@investorcom.com or call
1-800-361-9494.
Contact:Brianna
Fredriksen302-593-5404bfredriksen@comply.com