The Department of Labor (DoL) fiduciary rule applies a fiduciary standard to investment recommendations made under the Employee Retirement Income Security Act (ERISA). The higher bar for financial advice replaces the existing suitability standard, and requires financial advisors (FAs) to demonstrate that their recommendations are in their customer’s “best interest.”
Technology is critical to helping advisors meet this standard, while reducing administrative burden and improving customer experience. While there is uncertainty about the rule’s future under the new administration, most firms are opting to move forward with DoL implementation given customer expectations and a broad industry shift to fee based advice.
Join Will Trout of Celent and Bryan Sachdeva of NexJ Systems as they discuss the fiduciary standard, its implications, and customer-centric technology solutions for meeting these new requirements. This webinar will focus on:
- The industry shift to a goals-based, customer-centric focus on advice
- Understanding the DoL fiduciary rule and its key requirements
- Workflow automation and data management strategies that align advisor behaviors with client and regulatory requirements
- Evidence-based approaches to justifying investment recommendations, and a case study of how a leading US wealth management firm is meeting the rule
Director, Products, NexJ Systems
Bryan Sachdeva is a leading talent in the innovation of digital business enablement for the financial services industry. Bryan leverages years of consulting experience and deep domain knowledge acquired through work with major international financial services firms including Wells Fargo Advisors, and ATB Investor Services.
His focus is on the integration of Customer Relationship Management (CRM) with Business Process Management (BPM) and the firm’s back-end systems to deliver a unified front-to-back office digital landscape. He is a trusted industry thought leader with a long list of endorsements for his ability to architect digital solutions that revolutionize customer experience, front-office effectiveness, and back-office efficiency.
Head of Wealth Management, Celent
William Trout is a senior analyst with Celent’s Wealth Management practice. His research centers on technology strategy and innovation in the securities, wealth management and banking industries.
He has particular expertise on automated advice delivery, data analytics and segmentation, retirement investments, the use of digital tools and wealth management platform technology. Within the wealth management arena, his interests include financial planning, investment advisory, retail brokerage, and trust.