On June 5, 2019, the Securities and Exchange Commission (SEC) officially voted in the Regulation Best Interest rule which went into effect June of 2020. The rule aims to strengthen the guidelines previously outlined by the suitability rule and close the regulatory gap between broker-dealers and RIAs. Discover what you need to know about the Regulation Best Interest rule on our blog →

Leveraging a comprehensive financial planning tool such as NaviPlan can put broker-dealers in a better position to justify their recommendations and document compliance efforts. NaviPlan provides broker-dealers with a range of features that can support the delivery of best interest advice including:

Comprehensive planning

Providing a comprehensive financial plan is the simplest, most efficient means to justify a product recommendation or investment strategy. In the event of an audit, advisors can easily demonstrate the discussion which led to a specific product investment.

Recommendation rationale

By documenting the reasoning behind recommendations, broker-dealers can justify their suggestions. Features such as data gathering, cash-flow analysis, and comprehensive planning enable broker-dealers to rationalize their recommendations.

Compliance workflows

Our financial planning tools strengthen organizational oversight by empowering home offices with firm-level compliance management leveraging predefined workflows.

To download our full PDF resource on how NaviPlan helps broker-dealers comply with the the SEC's Regulation Best Interest Rule, click here.

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