This release includes updates to the capabilities of the Decision Optimizer tool, many of which were driven by user request. We expect the new capabilities will help optimize workflow and capture additional documentation to justify the rollover decision.
New Fields added to tie Advisor and Client to the analysis
- An ID can be added for a Client/Prospect or an existing account
- The Advisor’s rep code can be added to the analysis.
DOL 5500 search results have been improved
- When returning the search results for the DOL 5500, the results that are returned are now sorted by the asset size so the biggest plan records will return first. As larger plans are typically the target, this will lead to efficiency in finding the plan most likely being sought.
Investor Needs and Current Account Features can now be documented in the analysis
- The addition of investor needs and current account Features will allow for further documentation of the impact of that factor on the recommendation.
Inside the Decision Framework Settings:
- For each desired factor, a set of pre defined investor needs and current account features can be defined for the Advisor to choose from or a free form text option.
- Examples of common needs and features developed by PRI (Pension Resource Institute) can be obtained by contacting Fi360support@broadridge.com
- Any identified needs and/or features can displayed in the PDF analysis report.
- In the PDF report, unselected needs and/or features can be hidden.
Inside the New Analysis Modal:
- Needs and features entered in the Decision Framework settings are available to be selected for each applicable factor when conducting a new analysis to further document the impact of that factor on the recommendation.
SSO users can be launched directly into the “Add New Analysis” modal
- When launched, the following client data points can be prefilled:
- Client name
- Client/prospect ID
- Existing Account ID
- Advisor Rep Code
Enhanced client privacy
- When a new analysis is being conducted, client names are not visible in the background.
- Inside the Decision Framework settings, there is an option to include or exclude client goals. If included, a selection can be made to require client goals to be entered before moving on in the analysis.
Labels changed to Current Option and Proposed Option
- Clarification away from option 1 and option 2 to current option and proposed option allows for a more transparent conclusion whether the best alignment with client needs & objectives favors a recommendation to rollover or transfer assets.
Enforce Rollover Recommendation
- The Decision Framework can be set up to enforce the decision to recommend a rollover to the proposed option or to stay with the current option, based on the results of the analysis.
- When a Decision Framework is added, instructions can now be provided for that framework. Adding instructions can provide clarification for a particular Decision Framework or assistance to completing an analysis.
Decision Frameworks can be Suppressed
- Suppressing a Decision Framework in the settings will omit that framework from being an option when creating a new analysis. Suppressing a framework will allow for an efficient experience finding the correct framework by removing any that are unnecessary or unused.
Ability to print the Fee Comparison details in the PDF output.
- Fee comparison details from the interface can be included in the PDF output. Adding this information to the output is optional, and it can be toggled off/on within each framework as desired.