EPIC Advisors Selects Platform to Provide 408(b)(2) Compliance

EPIC Advisors Inc. (EPIC) chose Castle Rock Innovations’ (CRI) AXIS Retirement platform to provide compliance with the Department of Labor’s 408(b)(2) fee disclosure requirements.  

The AXIS Retirement analytics platform will be integrated with EPIC’s core recordkeeping practice to offer its Bank and Trust clients a data aggregation and reporting solution in compliance with the DoL-mandated Employee Retirement Income Security Act (ERISA) requirements.

AXIS is a SaaS-based platform that enables banks, trust companies, broker/dealers, product manufacturers, recordkeepers and third-party administrators (TPAs) to support the new regulatory fee disclosure reporting requirements in a secure and cost-efficient way. (See DoL Issues Final Rule on 401(k) Fee Disclosure). The AXIS platform provides complete insight across plans with a single portfolio view to mitigate risks and enable fiduciaries to handle the ongoing daily tasks of monitoring and reporting fees to plans efficiently and effectively.

“The relationship with AXIS is in alignment with the 408(b)(2) regulation, and meets our need to provide reporting coverage and analytics across our retirement plan business,” said Jim Genthner, president and CEO of EPIC Advisors. “The AXIS platform provides the flexibility, control and security necessary to service the individual disclosure requirements for our 50+ bank clients. This is significant peace-of-mind given the complexity of this regulation.”