Company expands partnership with InvestorCOM; Combines AccountCompare with PeerCompare and RolloverAnalyzer to provide COMPLY customers with a full suite of fiduciary due diligence solutions
NEW YORK, NY, July 17, 2024 – COMPLY, the only compliance solution provider with holistic software and service offerings across employee and firm compliance, today announced the launch of AccountCompare, a solution which makes it easy for firms to compare, track, and disclose investment account type recommendations based on a client’s profile. With this latest addition, delivered in partnership with InvestorCOM, COMPLY has launched the COMPLY Fiduciary Suite, which makes AccountCompare, PeerCompare, and RolloverAnalyzer available via a unified offering.
The COMPLY Fiduciary Suite arms financial firms with a comprehensive offering to address fiduciary duty from account recommendations to products and rollovers, enabling Investment Advisers to adhere to the Duty of Care obligations under the Investment Advisers Act of 1940 and the Department of Labor’s Retirement Security Rule, and keeping Broker-Dealers in compliance with Regulation Best Interest.
“Today, both RIAs and Broker-Dealers are subject to specific obligations pertaining to investment advice they provide to clients. The SEC has stated in a Staff Bulletin that both Investment Advisers and Broker-Dealers are expected to maintain similar standards.” said David Bliss, COMPLY Chief Product Officer. “However, for many firms, a lack of certainty continues to plague due diligence processes. The introduction of our comprehensive COMPLY Fiduciary Suite supports more holistic compliance functionality, allowing teams to capture and disclose the best interest rationale for investment recommendations across a range of account types. These disclosures educate and inform clients, protect the firm, and comply with regulatory requirements.”
“The COMPLY Fiduciary Suite, powered by InvestorCOM, takes the guesswork out of assessing account types, rollover, and product recommendations,” said Parham Nasseri, InvestorCOM President. “With continued regulatory focus on Adviser’s Duty of Care, Duty of Loyalty, Reg BI, and DOL PTE 2020-02, firms are under growing pressure to embrace technological solutions that foster compliance and propel growth.”
With COMPLY Fiduciary Suite, financial professionals can now efficiently and effectively demonstrate the fiduciary duty of care, ensure client confidence in investment recommendations, comply with regulatory requirements, and build documentation to protect the firm against risk, all from a single platform. Three solutions make up this dynamic offering:
- AccountCompare: Compares investment account-type recommendations against the client’s profile
- PeerCompare: Compares investment product recommendations against reasonably available alternatives
- RolloverAnalyzer: Analyzes rollover recommendations against cost, service, and fit criteria
“The dynamic nature of compliance demands comprehensive compliance solutions which enable data-driven risk mitigation strategies,” said Michael Stanton, COMPLY Chief Executive Officer. “The launch of COMPLY Fiduciary Suite exemplifies the impact such technology offers firms of all sizes. Disparate solutions no longer serve as effective means for compliance automation. However, with integrated solutions, which leverage a single unified platform, firms can holistically assess risk and address evolving regulations at scale.”
COMPLY Fiduciary Suite captures the best interest rationale for investment recommendations and generates compliant disclosures, all stored in a central repository. Combining the newly launched AccountCompare with PeerCompare and RolloverAnalyzer, COMPLY Fiduciary Suite increases efficiency, simplifies compliance processes, and reduces risk while offering cost savings of 18% compared to purchasing tools separately. The COMPLY Fiduciary Suite is available today. Learn more at COMPLY.com.
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About COMPLY
COMPLY, the only compliance solution provider to deliver employee and firm compliance software, services, education, and support in one comprehensive offering, enables firms to scale their growth while remaining vigilant in their compliance efforts. As the global market leader and premier compliance partner, COMPLY’s innovative solutions are designed to manage the burden of complex compliance tasks for firms large and small. Our deep bench of industry expertise – which includes expansive knowledge in technology enablement and regulatory compliance protocols and processes – supports more than 7,000 clients, including investment management firms, private equity firms, hedge funds, broker-dealers, registered investment advisers, and other financial service sector participants.
COMPLY continually supports clients in their work to proactively address core compliance challenges – minimizing risk, addressing critical priorities, and meeting new demands as the industry evolves and the firm scales. Learn more at COMPLY.com.
About InvestorCOM
Since 1992, InvestorCOM has been providing regulatory compliance software and communications solutions to wealth managers, asset managers, and insurers. Our high value, intuitive solutions eliminate compliance risk for our clients and foster better financial decisions. For more information, visit www.InvestorCOM.com, email info@investorcom.com or call 1-800-361-9494.
