SALT LAKE CITY, Sept. 14, 2021 (GLOBE NEWSWIRE) -- CapitalROCK will be releasing a PTE version of RightBRIDGE in October of 2021. The new functionality addresses the rules and requirements of the DOL PTE 2020-02 to assist financial professionals in complying with the new regulatory requirements.
In preparation for the new release CapitalROCK, the makers of RightBRIDGE systems, announced today the results of a legal opinion from the Wagner Law Group. CapitalROCK partnered with Marcia Wagner and the Wagner Law Group to evaluate its solutions in light of the requirements of PTE 2020-02.
The opinion finds that “RightBRIDGE’s Product Profiler and relevant Wizards may greatly assist financial institutions and their investment professionals to operate in compliance with the PTE, and may be an evolving best practice for use in creating a Financial Institution’s policies and practices for investment advice…”
The CapitalROCK team worked closely with the Wagner Group to assist in analyzing the functionality of the RightBRIDGE applications. CapitalROCK chose Marcia Wagner and her team due to their specific knowledge and reputation concerning ERISA law. CapitalROCK believes the legal opinion will be of great use to not only its clients, but also those firms performing due diligence on the RightBRIDGE solution set.
CapitalROCK President, John Hyde, said “We’ve been performing rollover analysis and documentation for a long time for some of the industry’s biggest names. As soon as it became clear that PTE 2020-02 would go into effect we got straight to work on making enhancements for the new requirements. We began piloting new features starting in June 2021. In recognition of our clients and prospects having a short timetable we thought it made the most sense to have one of the most prestigious names in the ERISA legal field provide a third-party review to aid them in their due diligence process.”
Broker-dealers and financial services firms are invited to request access to the Wagner Opinion to read it in its entirety. You can request a copy at www.CapitalROCK.com/ptelegalopinion
About CapitalROCK: CapitalROCK, LLC provides rule-based product validation/selection tools and needs-based customer analytics to the financial services industry. CapitalROCK was founded in 2007 by a group of industry experts that have been building customer relationship and wealth management solutions for the financial services market for more than 30 years.
Media Contact: Connor Thomas | cthomas@CapitalROCK.com | 804-495-3644
