Magnifi, a TIFIN Group company, and Fi360, a Broadridge company specializing in fiduciary education and technology, announced that they have added the Fi360 Fiduciary Score to Magnifi’s semantic searching and screening platform.
The firms say this integration will give advisers the ability to discover and use investment products while staying within the guardrails of fiduciary risk. Magnifi’s Discovery, Selector and Enhancer tools will now incorporate Fi360 scores to find and recommend best-fit products, in compliance with the Securities and Exchange Commission (SEC)’s Regulation Best Interest (Reg BI) requirements, as part of client and retirement plan management workflows.
“Magnifi’s powerful tools are delivering new ways for advisers and investors to leverage natural language and network effects to identify the right funds for their portfolios. We’re excited that the Fi360 Fiduciary Score is now available as a criterion, playing an important role for those who want to include a fiduciary lens within Magnifi’s novel platform,” says John Faustino, head of Fi360.
“The addition of Broadridge Fi360 Solutions’ fiduciary scores to the Magnifi platform enhances its utility for advisers and self-directed investors alike. Advisers can easily discover and recommend lower risk opportunities for clients and prospects with the confidence of Fi360’s fiduciary framework. Given the continued volatility in markets and heightened investor interest in supporting ESG [environmental, social and governance] themes, investors will appreciate Magnifi’s elegance in helping manage risk and intent,” says Rick Hurwitz, CEO of Magnifi.
The firms will host a joint webinar to demonstrate adviser workflows on November 10 at 2:00 p.m. EST. Registration is free and open to all interested parties. More information on the webinar can be found here.