[July 18, 2016] |
|
Advicent Empowers Advisors for Success amid Industry Changes, Spurned by Anticipated DOL Fiduciary Rule
With the DOL fiduciary rule taking shape and many companies creating
action plans to implement the anticipated impact, Advicent is building a
DOL Education Center in Advisor Briefcase, a powerful marketing
communications tool, which will be released to users in the near future.
This education center includes content such as an overview of the DOL
Fiduciary Rule; shorter advisor items including topics around collecting
commissions, potential changes to the rule, and anticipated enforcement
of the DOL Rule; and content to assist in positioning the value of
financial planning that advisors can leverage when educating clients on
the impact of the rule - thus abiding by the new fiduciary standard set
by the DOL.
The DOL fiduciary rule gets to the core issue for investors: trust.
Trust remains one of the biggest reasons investors pick their advisor.
There are many smart, engaged, and honest advisors; however, a small
fraction make headlines for the wrong reasons. Thus, the DOL seeks to
tighten the definition of an advisor's fiduciary standard, which will
increase the responsibility of the advisor to act in the best interest
of the client. This law is designed to validate the advisor's advice,
which can increase the trust investors have in financial advisors. In
concept, this is good; however, the implications of how it works can be
messy and confusing.
This change in fiduciary responsibility is forcing he industry to
change compensation, workflow, processes, and advice in a hurry. This
will require clear and concise communication to educate advisors and
clients. Using Advisor Briefcase, as well as a comprehensive and
collaborative technology in the planning process, allows firms to build
a tremendous amount of trust in advisor-client relationships. This will
offer clarity into the changes ahead and reinforce the fact that the
advisor puts the client's best interests first.
"The DOL fiduciary rule is changing the way many financial service
professionals provide advice and earn revenue," said Phil Cunningham,
chief executive officer at Advicent. "The Advicent product suite helps
advisors justify their recommendations through our industry leading
calculations and enables everyone to understand their financial future
through the new education center in Advisor Briefcase."
For more information about the DOL Education Center in the Advisor
Briefcase marketing communications tool or to learn more about the other
industry leading solutions from Advicent, please contact [email protected].
About Advicent
Advicent is the leading provider of SaaS (News - Alert) technology solutions for the
financial services industry, servicing the world's largest financial
institutions. The Advicent Solutions product suite includes the
NaviPlan®, Figlo®, and Profiles™ financial planning applications, which
power our Narrator® Advisor and Narrator® Clients portals; the Advisor
Briefcase® marketing communications tool; and the Narrator® Connect
application builder which unlocks the power of Advicent APIs. Through
our innovative product capabilities and dedicated services, we are able
to help thousands of financial professionals and their clients
understand and impact their financial future. Our mission? To one day
enable everyone to pursue this same goal. To learn more, visit advicentsolutions.com
or email [email protected].
View source version on businesswire.com: http://www.businesswire.com/news/home/20160718005003/en/
[ Back To Homepage ]
|