NEW YORK, Sept. 8, 2021 /PRNewswire/ -- To support
wealth and retirement professionals as they address new
requirements associated with the Department of Labor's Prohibited
Transaction Exemption 2020-02 (PTE
2020-02), Broadridge Fi360 Solutions announced an enhanced
Decision Optimizer software for financial advisors. The enhanced
capability supports advisors with PTE
2020-02 requirements that take effect December 20, 2021, as well as ongoing IRA
rollover and related compliance needs.
The Decision Optimizer tool, first launched in July 2020 in response to Regulation Best
Interest, offers a highly customizable, turnkey solution to help
financial advisors and home-office clients comply with evolving
ERISA plan/IRA transfer regulatory requirements. Advisors can
access PTE 2020-02-specific rollover
analysis criteria, plan fee benchmarking data, attestations, and
home office surveillance of rollover comparisons, improving
workflows to better align with current and future compliance
conditions.
Broadridge Fi360 Solutions worked to enhance the tool with
ongoing support from the Pension Resource Institute to develop best
practice criteria that is easily adaptable as the regulatory
environment evolves.
"The enforcement date of December 20,
2021 and associated requirements are creating meaningful
challenges for advisors and home offices. Working alongside PRI and
our clients, we're excited to offer a turnkey solution to help
drive compliance," said John
Faustino, Head of Broadridge Fi360 Solutions. "We're
thrilled to bring PRI's expertise to our client base and to
continue helping advisors simplify and implement fiduciary
processes."
"We're excited to work with Broadridge Fi360 Solutions to
deliver services that address the technical and evolving regulatory
environment," said Jason C. Roberts,
Chief Executive Officer at Pension Resource Institute and
Retirement Law Group. "Broadridge Fi360's deep knowledge of the
fiduciary advisor landscape with 20 plus years' experience and
superior technology resources, combined with our intellectual
property and focus on ERISA legal and compliance issues, enables us
to bring actionable and scalable solutions to serve our respective
clients."
About Broadridge Fi360 Solutions
Broadridge Fi360
Solutions provides fiduciary education, training and technology to
help financial intermediaries use prudent fiduciary practices to
profitably gather, grow and protect investors' assets. Since 1999,
the firm has provided financial professionals with the tools
necessary to act as a fiduciary in their work with investors.
Headquartered in Pittsburgh, PA, Broadridge Fi360 Solutions is
the home of the Accredited Investment Fiduciary® (AIF®)
Designation, the Fiduciary Focus Toolkit™, CEFEX and the Fi360
Fiduciary Score®. Fi360 was acquired by Broadridge Financial
Solutions, Inc. (NYSE: BR), a global Fintech leader and part of the
S&P 500® Index, in 2019. Learn more at www.Fi360.com.
Media Contacts:
Matthew
Luongo
Prosek Partners
+1 646.818.9279
mluongo@prosek.com
Linda Namias
Broadridge Financial Solutions
+1 631.254.7711
Linda.Namias@broadridge.com
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SOURCE Broadridge Financial Solutions, Inc.