DALBAR Gives AXIS Platform Seal of Approval

DALBAR Inc., which provides evaluation and accreditation of retirement plan service providers, has rendered a positive opinion on the methodologies used by the AXIS Retirement Analytics Platform.

The AXIS analytics platform, provided by Castle Rock Innovations, is used by advisers to address the Department of Labor’s 408(b)(2) and 404(a)(5) fee disclosure requirements. The platform is designed to service all retirement plan types through a single web-based interface and data repository, and can interface with most recordkeeping systems supporting retirement plan data feeds. 

Advisers use the AXIS platform for automated data aggregation, reporting, and on-demand benchmarking that can be used during auditing processes. The platform links over 80,000 Employee Retirement Income Security Act (ERISA) plans, which are refreshed on a monthly basis to provide updated fee, service and plan provision insights.

“After review of the methodology outlined by AXIS, we have found that the approach taken can be expected to produce reliable benchmarks, subject to an implementation that follows the outline presented and incorporating proper controls,” explains Louis Harvey, president of DALBAR. “Caste Rock Innovations is hereby granted the right to use the DALBAR Benchmark Methodology Certification Seal.”

Khash Sarrafi, CEO of Castle Rock, says the approval from DALBAR “validates our mission and objective to provide accurate real time data back to the industry.”

More information about the AXIS Retirement Analytics Platform is available at www.axisretirement.com.