New integration enables firms and financial professionals to meet Reg BI and PTE 2020-02 rollover obligations and grow their businesses
Nitrogen, the company that is revolutionizing how financial advisors and wealth management firms grow their firms, announced its integration with InvestorCOM, a leading regulatory compliance software and communications solution for wealth and asset managers. This integration enables financial professionals using Nitrogen’s platform to seamlessly access InvestorCOM to make compliant rollover recommendations, access 401k plan costs, and digitally deliver and document their analysis to investors.
“Through this integration, we’re excited to further equip our clients with the tools they need to navigate the complexities of the industry while delivering best-interest recommendations to their clients. Our partnership will help streamline the rollover process and support firm growth.”
This integration was developed in response to increasing regulation and the demand for more effective communication and disclosure from the financial services industry. InvestorCOM’s compliance platform satisfies the principle set out by regulators, supporting the key categories of disclosure and record-keeping, advisor and process oversight, and investment product selection and monitoring leading to better financial decisions.
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“At Nitrogen, we’re committed to empowering advisors and firms with innovative solutions that help them meet regulatory obligations while driving outstanding business results,” said Aaron Klein, co-founder and chief executive officer at Nitrogen. “Through this integration, we’re excited to further equip our clients with the tools they need to navigate the complexities of the industry while delivering best-interest recommendations to their clients. Our partnership will help streamline the rollover process and support firm growth.”
Thousands of financial professionals use RolloverAnalyzer, an intuitive application that enables them to efficiently meet their regulatory obligations by:
- Analyzing rollover recommendations across levels of service, client fit, and costs
- Gaining instant access to plan cost data across Form 5500 and benchmark cost data
- Electronically documenting and disclosing their best interest recommendation to the client
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Additionally, compliance teams use the cloud-based app to implement a consistent recommendations process across their entire firm and access comprehensive supervision and oversight capabilities. Native capture of recommendations simplifies record-keeping and documentation, while a compliance dashboard drives compliance insights, including the periodic retrospective review mandated by a Department of Labor PTE 2020-02.
“Rollovers represent a significant growth opportunity for firms, and at the same time a significant compliance and oversight challenge,” added David Reeve, chief executive officer at InvestorCOM. “We’re excited to partner with Nitrogen to provide firms with easier access to RolloverAnalyzer’s intuitive and comprehensive capabilities so they can meet compliance and grow their business.”
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