Fiduciary Decisions' Best Interest solution addresses the requirements of the DOL’s Fiduciary Prohibited Advice Exemption, RegBI and follows the guidance contained within FINRA Regulatory Notice 13-45. The platform enables Service Providers to demonstrate that their IRA actions are in the best interests of their clients, that fees being charged are reasonable and that all transactions are subject to compliance oversight which will ultimately protect these firms from potentially costly class action litigation.

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Fiduciary Decisions’ Best Interest solution provides advisors, home offices and other service providers with a robust and compliant platform. Key features to consider include:

Easy to Use Workflows

The FDI Best Interest platform facilitates all four types of rollover transactions via an easy-to-use interface and workflows that drive compliant processes.

The four types of rollover transactions are:

Recommendation – this is where the service provider wishes to really help the participant understand the alternatives for their rollover on an apples-to-apples basis consistent with FINRA 13-145, Reg BI and the DOL’s Fiduciary Prohibited Advice Exemption.

Education – this is where the Service Provider provides education for the same factors that exist in the Recommendation scenario. In this case, however, the participant will make the decision on their own.

Hire Me – this is where the participant has already decided to rollover their balance from a plan to an IRA.

Unsolicited Request – this is where the participant has assets that cannot remain in the plan because of the cash-out rules.

Eliminate inefficient and repetitive data entry by templating your most often used IRA solutions including:

  • Custodian Service and Fee templates
  • Advisor Service Model templates
  • Investment Option and Allocation templates
  • Fee Templates

Compliance and Management Reporting

  • Customizable compliance workflows enable you to build processes that work for both advisors and oversight.
  • Customizable reporting enables you to track and report on the metrics that matter to your business.

Integrate into your Business

The FDI Best Interest platform is designed to become part of your existing business processes. Examples of available integrations include:

  • Risk Tolerance systems
  • Investment Analytics systems
  • Third party Investment Management systems
  • Books and records systems

And there is so much more! Schedule a demo to see how the FDI IRA Best Interest Determination solution can change your practice.