Financial services technology company La Meer has unveiled a new Regulation Best Interest (Reg BI) compliance platform that is cloud-based and designed in a modular configuration to allow advisers to address specific areas of need.
The platform is built around a client management portal, a compliance portal and a client portal. It allows advisers and associated persons to interact with clients, exchanging information, approvals and portfolio information in real time and with the compliance department for suitability reviews.
The dashboards offered in each portal enable quick and easy visualization of information, the firm says. And when it comes to Securities and Exchange Commission (SEC) examinations, advisory firms using the GRACE platform will have a “single source of truth” to turn to.
Features of the platform allow advisers to gather client information and generate client risk profiles from easy-to-use risk assessment questionnaires. The platform promotes diligent product selection and generates alternate recommendations. It records selection notes and shares them with clients and compliance staff.
More information on the GRACE platform is available here.