AISG Chooses InvestorCOM to Digitize Rollover Recommendation Process

AISG will use InvestorCOM RolloverAnalyzer to make best interest rollover recommendations in compliance with PTE 2020-02

InvestorCOM, a leading regulatory software provider to the wealth management industry, announced that American Investment Securities Group LLC (AISG), an independent broker-dealer, has selected InvestorCOM to digitize their rollover recommendation process and meet the Department of Labor’s (DOL) PTE 2020-02 requirements.

“We recognize that meeting the PTE 2020-02 requirements is most efficiently accomplished by utilizing compliance technology – there are far too many factors for an advisor to consider” — Ryan Carlson, Principal at AISG.

AISG’s team of financial professionals will use InvestorCOM RolloverAnalyzer to analyze, document and disclose rollover recommendations to their clients. The application is fully integrated to Form 5500 and benchmark data, saving advisors time in looking up data for assessing and comparing plan costs. Built-in reporting provides compliance professionals with oversight throughout the entire process.

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The DOL’s PTE 2020-02 implementation deadline to adopt the disclosure and documentation requirements is June 30, 2022. When InvestorCOM surveyed 100 dealers this month about their process for making best interest rollover recommendations, 70 percent confirmed they are currently doing the work manually.

“We recognize that meeting the PTE 2020-02 requirements is most efficiently accomplished by utilizing compliance technology – there are far too many factors for an advisor to consider,” said Ryan Carlson, Principal at AISG. “InvestorCOM’s RolloverAnalyzer checks all the boxes within a single workflow and does it simply and intuitively.”

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“As the DOL’s PTE 2020-02 deadline nears, more and more firms are starting to realize that using manual methods to meet compliance are incredibly time-consuming and risky,” said Travis Champion, VP Business Development at InvestorCOM. “We are delighted AISG selected InvestorCOM as their trusted compliance technology partner for meeting PTE 2020-02.”