eQuipt Dashboard Features New Tool Designed to Simplify Reg BI Compliance Requirements Ahead of June 30 Implementation Deadline
Platform Aligns Financial Professionals’ Digital Client Interactions with Client Expectations and Regulatory Requirements
PHOENIX – June 25, 2020 – Advisor Group, the nation’s largest network of independent wealth management firms, today announced the rollout of its new eQuipt Dashboard for financial professionals. The innovative new enhancement to the firm’s industry-leading eQuipt digital client onboarding and account management platform has been specifically designed to facilitate compliance with the SEC’s new Regulation Best Interest (Reg BI) by seamlessly incorporating streamlined options for managing electronic delivery of required disclosures, key account documents and more.
The eQuipt Dashboard will serve as a single, integrated point of entry to the full spectrum of eQuipt’s functionality for Advisor Group financial professionals, including digital collaboration for opening new accounts; processing financial planning agreements and invoices; streamlined funding via ACATs, ACH, and Mobile Deposit; accessing and editing email addresses for clients and prospects, and more.
Additionally, the new Dashboard incorporates Reg BI-ready features designed to empower financial professionals to hit the ground running when the rule takes effect on June 30, including the new digital eConsent tool. This feature enables financial professionals to view which clients and prospects are not enrolled in eDelivery for key account documents and disclosures, then send them an invitation to enroll with the click of a button.
The tool then captures each client’s consent, logs it for record-keeping, and enrolls the client in eDelivery, converting a previously paper-based and time-intensive task into a seamless online experience. The eQuipt Dashboard also features one-click eDelivery enrollment that advisors can utilize during account setup or in other direct interactions with clients.
Matthew Schlueter, Advisor Group’s President of Products and Platforms, said, “Reg BI and Form CRS are designed to provide clients with more transparency regarding financial professionals’ recommendations. The new eQuipt Dashboard and its integrated solutions for Reg BI give our professionals the ability to seamlessly comply with the new requirements digitally, in a way that’s efficient and eco-friendly. Once again, we’re very pleased to demonstrate our commitment to leveraging our scale and resources to empower financial professionals to focus on what they do best: serving clients’ needs by providing sound financial advice.”
Tiana Ronstadt, founder of Tucson, Ariz.-based Power Women Investing, pilot-tested the eQuipt Dashboard and eConsent tool.
Ms. Ronstadt said, “eQuipt has been a game-changer for my business. The ability to quickly open accounts and offer my clients a world-class digital experience has been invaluable, and now the new Dashboard and its eConsent tool are helping me streamline my Reg BI responsibilities, delivering greater transparency for my clients and prospects and increased efficiency for my practice. A financial professional’s typical workday is already filled with the enormous array of tasks needed to run a business and serve clients. eQuipt’s new Reg BI solutions help us manage a key part of that workload in a highly efficient way.”
To assist advisors in preparing for Reg BI and Form CRS, Advisor Group also executed a virtual roadshow series titled “Reg BI Readiness: Countdown to Reg BI” in May, with ongoing resources and trainings rolled out throughout June and continued availability after the June 30 implementation deadline. The series features Allison Pratt, Advisor Group Executive Vice President for National Sales, and Matt Kinsella, Vice President and Chief Compliance Officer at Advisor Group subsidiary Securities America, and provides vital best practices to help advisors successfully transition into the Reg BI era.
Advisor Group President and CEO Jamie Price concluded, “While much of the wealth management industry views Reg BI with uncertainty, we view it as an opportunity to better support our financial professionals and their clients. Our new eQuipt Dashboard does this through a streamlined platform that aligns with the way clients expect advice to be delivered – digitally, with a minimum of paperwork to weigh them down. This is yet another way Advisor Group is showing that we’re in our financial professionals’ corner, as we continue to invest in the solutions and resources they need to grow. As remote work becomes the new normal, the eQuipt Dashboard and its Reg BI-focused solutions put financial professionals in the driver’s seat and empower them to work with clients seamlessly and efficiently – all while meeting their new compliance requirements.”
About Advisor Group
Advisor Group, Inc. is the nation’s largest network of independent wealth management firms, serving approximately 11,300 financial professionals and overseeing over $450 billion in client assets. The firm is mission-driven to support the strategic role that financial professionals can play in the lives of their clients. Securities and investment advisory services are offered through its affiliated broker-dealers: FSC Securities Corporation; Royal Alliance Associates, Inc.; SagePoint Financial, Inc.; Woodbury Financial Services, Inc.; Securities America, Inc.; Triad Advisors, LLC.; Investacorp, Inc.; KMS Financial Services, Inc.; and Securities Service Network, LLC, members FINRA and SIPC, and Registered Investment Advisers. Cultivating a spirit of entrepreneurship and independence, Advisor Group champions the enduring value of financial professionals and is committed to being in their corner every step of the way. For more information, visit https://www.advisorgroup.com.
Joseph Kuo / Chris Clemens
Haven Tower Group
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