[VIDEO] Leveraging Advicent technology in your DOL compliance strategies

November 22, 2016 by Alex Peter

about the author:

Alex Peter

Product marketing strategist

Alex began his career at Advicent as a mid-market business development representative. He now divides his time between assisting his team and working with enterprise clients. Alex is passionate about FinTech and creating success for his team.

The role of technology in DOL compliance

No single software solution can completely ensure that an advisor or firm will not be subject to investigation or litigation. Due to the complexity of the client-advisor-firm relationship, there will be situations where decisions and recommendations are that made outside of established workflows are called into question. Unlike many other regulations, there is no oversight and/or enforcement component for the new DOL rules. Any real or perceived violations will be meted out either through binding arbitration which most retail investors agree to at account opening or through civil litigations, e.g. class action lawsuits, which raises the stakes for firms. [Continued below]



Advicent firmly believes that internal processes—coupled with a robust, well-positioned financial planning software—can greatly reduce the risk of noncompliance for firms looking to build a case for DOL compliance. It is clear that holistic financial planning will play a key role when creating strategies for compliance. With decades of unmatched experience, Advicent is prepared for changes in the industry which ensures the development of first-in-class tools remain ahead of the curve for regulatory changes.

After reviewing the new fiduciary standards, Advicent has taken three major steps in building The Compliance Blueprint to ensure success when partnering with Advicent — identifying applicable product functionalities and affirming its DOL readiness; partnering with industry experts and providing thought leadership; and announcing product updates to further enhance the Advicent offering.

Click here to learn more about how you can lever The Compliance Blueprint from Advicent in your DOL compliance strategies.

Sign up for the
Advicent newsletter