RolloverAnalyzer

The RolloverAnalyzer solution was created for both state and SEC registered RIA firms. 

Yes, advisers can look up employer-sponsored plans from the Form 5500 database, and leverage industry benchmark functionality hours of manual reporting. 

The rule made changes to the existing interpretation of the five-part fiduciary test, stating that certain rollover recommendations may be considered an Employee Retirement Income Security Act of 1974 (ERISA) violation. 

Essentially, investment advisers recommending a rollover to a client and receiving additional compensation are required to meet an exemption under the Rollover Rule. 

To qualify for an exemption, advisers must meet certain requirements, including: 

• Disclose their fiduciary status. 
• Provide a written scope of practice, including disclosure of any conflicts of interest. 
• Remain compliant with the Impartial Conduct Standards. 
• Review Rollover Rule policies and procedures through an annual retrospective review, with documented results given to the appointed senior executive officer for signoff. 
• Provide specific documentation for reasoning behind why a recommendation to rollover assets from one account type to another is in the client’s best interest.