Overview

When an investor rolls over an employer-sponsored retirement plan into an individual retirement account (IRA), the financial professional stands to benefit. To ensure rollover recommendations are in the investor's best interest, the Department of Labor (DOL) has established new requirements which demands that Retirement Advisors act in the best interests of their clients and put their clients' interests above their own. It leaves no room for advisors to conceal any potential conflict of interest and states that all fees and commissions for retirement plans and retirement planning advice must be clearly disclosed in dollar form to clients.

The definition has recently been expanded to include any professional making a recommendation or solicitation in this area, not simply giving ongoing advice. IQZ's IRA Accelerator, built on Pega's case management platform, will help Financial Services institutions meet the Department of Labor's Fiduciary 3.0 mandate.

Flexible architecture enables FS organizations to implement mandate solution to support their retirement rollover services using their unique plans and products. User friendly process flow allows the fiduciaries to capture and disclose all commissions and services associated with the rollover and get consent from the clients. Easy integration with enterprise content management to store e-signed consent forms.