Ascensus is enhancing its product platform to provide support for financial professionals and broker/dealers looking to comply with the Department of Labor’s (DOL’s) new fiduciary regulations.
The retirement plan provider is carefully studying the new regulations and will tailor its commission-based solution to be in line with them. Changes are scheduled to be available in the third quarter of 2016, and will be designed to ensure level compensation and a layer of additional fiduciary protection related to the management of a client’s investment lineup.
“Our product platform is designed to help financial professionals and broker/dealers comply with the new fiduciary regulations while minimizing disruption to their businesses,” says Steven Schweitzer, senior vice president of Ascensus’ Strategic Business Support Services. “Our ability to leverage technology and automation to ensure level compensation while offering an open-architecture investment platform and the flexibility to work within a desired business model makes Ascensus the easy choice for financial professionals and broker/dealers who want to comply with and thrive under the new standards.”
While financial professionals and broker/dealers may have had knowledge of various drafts of the new regulations, Ascensus anticipates they will be seeking assistance with the final guidelines as the new rules are reviewed and clarification from the DOL is provided prior to becoming effective.
“We’ve been working with financial professionals and broker/dealers to make sure that they’re comfortable with the new rules and the support we will provide them,” says Kathleen Connelly, Ascensus’ executive vice president of Client Services. “The ability to offer them a comprehensive product platform along with access to our ERISA experts will allow them to feel confident that they are adhering to the new standards as they service their clients.”