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Compliance for Rollover Fiduciaries
Course Description
Making certain recommendations to rollover retirement plan assets is now a fiduciary act, subject to standards of care similar to that required for investment recommendations. Fiduciary rollover recommendations must therefore comply with the level of prudent practices and documentation that were previously reserved for investments.
This self-study course is designed to give financial professionals and compliance departments an understanding of the regulatory framework related to rollovers, the applicability of the new Prohibited Transaction Exemption (PTE 2020-02), processes and prerequisites, as well as pros and cons of various rollover advice arrangements.
Learning Objectives
Understand the motivation that led to the PTE 2020-02, its goals, scope and who is affected and in what way.
Learn how various aspects of rollovers can be handled in different ways in three tiers.
Understand how ERISA is adapted to meet the goals of PTE 2020-02 and examples of likely compliance failures.
Determine what processes, resources, practices and procedures are required.
What the advantages and disadvantages of each tier.
Course Outline
Lesson 1
Introduction
Applicability of PTE 2020-02
Quiz Questions
Reading Assignments
PTE 2020-02 Fact Sheet
Fundamental Differences Between Investment and Rollover Decision
Definition of Rollover Service Tiers
Lesson 2
Regulatory Framework
Examples of Violations
Quiz Questions
Reading Assignments
PTE 2020-02 – Text Only
Lesson 3
Rollover Process
Rollover Prerequisites
Quiz Questions
Reading Assignments
Retrospective Review Checklist and Report
Making the Most of 408g – Agreements, Disclosures, Notifications
Lesson 4
Tier 1: Non-Fiduciary Pros & Cons
Tier 2: Pure Robo Pros & Cons
Tier 3: Rollover Fiduciary Pros & Cons
Reading Assignments
1996-01 IB Defining Education
CE Credit Information
CFP Credit* - 4.5 hours
Cost
$159 or choose the Bundle and add "Navigating the New Rollover Reality" for $298
*$20 fee for CE Credit add-on
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Contact DALBAR
2 Mount Royal Ave, Suite 250
Marlborough, MA 01752
Phone: 617-723-6400
Email: info@Dalbar.com
Contact Retirement Learning Center
206 North 7th Street
Brainerd, MN 56401
Phone: 877-275-7521
Fax: 320.323.3709
Email: info@retirementlc.com