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DOL Rollover Solution

BrightScope's DOL Rollover Solution ensures that starting April 2017 you continue to capture new rollovers securely, quickly and fully in compliance with the DOL fiduciary rule and FINRA Rule 13-45. BrightScope's solution aggregates plan, participant and fund / product data from 401k plans and IRA accounts and produces the best interest determination documentation advisors and firms need to demonstrate to clients, compliance and regulators that rollover recommendations are in the client's best interest.

Demonstrating Best Interest for Rollovers.

BrightScope knows the last thing broker-dealers want is a slow new process on a new interface that requires implementation and training before April 2017. As a result, our rollover solution can be fully-integrated within existing systems, working seamlessly in the background to aggregate data and perform best interest calculations. Accessible via SSO from an existing desktop solution or website, the interface can be white-labeled to match existing websites. Furthermore, the output of the process can be integrated back in to internal systems via feeds or APIs.

One comprehensive solution addressing all factors.

This comprehensive rollover solution manages all the comparison requirements outlined in the DOL Fiduciary rule and in FINRA Rule 13-45, including:

  • Investment Options Comparison

  • Fees and Expense Comparison

  • Services Comparison

  • Penalty-Free Withdrawals and Loans Comparison

  • Creditor Protection Comparison by State

  • Required Minimum Distribution Comparison

  • Company Stock Taxation and Diversification Comparison

Produce best interest proposals quickly, accurately, and consistently.

The BrightScope DOL Rollover Solution minimizes a potential liability and delivers a streamlined process that ensures best interest proposals are produced and documented quickly, accurately, and consistently.

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Plan Data

Plan data comes from three sources: 1) A Network of other Firms using our Rollover Solution, 2) Plan Documents loaded by the Advisor, or 3) Public Data processed by BrightScope. Using the best of all 3 sources minimizes the amount of work for the advisor and participant.

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Fund & Product Data

Aggregating fund and product data from three third-party sources, BrightScope enables fast performance and fee comparison with limited data entry by the advisor.

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Participant Data

Securely integrate participant data via a statement, or ensure up-to-date information is integrated via data aggregation using the participant's login credentials direct to their 401k website.

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Broker-Dealer Workflow

Flexible reporting engine delivers fully configurable documentation templates, including custom narratives and disclaimers. All best interest determinations are tracked and archived securely.

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Compliance Reporting

Information is maintained in perpetuity with on-demand search, sort and query capabilities to support document retrieval and compliance needs.

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Find out more about how BrightScope solutions can help you and your business.

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