RightBRIDGE Product Profiler Upgraded for SEC Reg BI

Tuesday, 10. December 2019 11:00

SALT LAKE CITY, Dec. 10, 2019 (GLOBE NEWSWIRE) -- CapitalROCK, an industry leader in the financial services industry for best interest validation and product selection, is pleased to announce the deployment of a version of its Product Profiler upgraded to address Reg BI requirements.  

“The Product Profiler was originally developed to address the regulatory requirements of the DOL Fiduciary Rule and has been retrofitted and enhanced to meet the new regulatory requirements of the SEC Reg BI,” said John Hyde, president of CapitalRock. 

The Product Profiler, a well-adopted best interest system, has been enhanced with a variety of features that help firms comply with Reg BI. Some of the most notable features include an advanced account rollover analysis and a validation report for all client cases. The Product Profiler has also been enhanced with a product validation function to allow the advisor to test a selected product type against their broker-dealer’s best interest parameters. The selected product is evaluated by the configurable RightBridge engine, and the user is shown whether or not the selected product meets the broker-dealer’s best interest requirements. Further, in order to comply with Reg BI, the advisor must also consider all available options, which the Product Profiler satisfies by automatically running a silent review of all available product types using the collected data. The best interest findings are available in PDF and can be sent to a firm’s work flow processing or account opening system for review by broker-dealer staff.  

In conjunction with the Reg BI features release, CapitalRock commissioned an independent third party evaluation of the Product Profiler for Reg BI conducted by the research and consulting firm Kehrer Bielan. The author examined the RightBridge Product Profiler through the lens of the requirements of Reg BI and advised, “[T]he Product Profiler can be an integral tool for use in compliance with SEC Regulation Best Interest. Product Profiler and CapitalROCK’s Product Wizards have further applicability as tools to ensure compliance with the growing 'assortment' of individual state-specific 'Best Interest' standards and with FINRA’s regulatory interpretations of Reg BI obligations.” This report was first made available to CapitalRock clients and is now available as a resource to broker-dealers that are preparing for Reg BI. If you are interested in reviewing this report, please contact CapitalRock at sales@capitalrock.com or visit us at CapitalRock.com 

About CapitalRock: CapitalRock, LLC provides rule-based product validation / selection tools and needs-based customer analytics to the financial services industry. CapitalRock was founded in 2007 by a group of industry experts that have been building customer relationship and wealth management solutions for the financial services market for 30 years.

About Kehrer Bielan: Dr. Kenneth Kehrer and Christine Kehrer pioneered research on the bank brokerage and insurance industry in the 1980s and 1990s—tracking sales by banks, credit unions, and product providers, and inventing many of the metrics that are still used to assess the performance of the investment services businesses in banks and credit unions to this day. Kehrer Bielan Research & Consulting continues a proud tradition of conducting unbiased research and delivering results that will help your business to evolve and grow.

Media Contact: Connor Thomas | cthomas@capitalrock.com | 804-495-3644

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