Implementing Rule 2821 during a tight financial market
The imminent implementation of Regulation 2821 affecting the sale of variable annuities has many compliance teams searching for viable solutions. Unfortunately the recent market turmoil has CEOs looking to hold or cut costs, complicating the building or buying of effective 2821 solutions.
E*Assist’s low cost platform allows many of the compliance tasks incorporated in a firm’s written supervisory procedures to be codified, including 2821, which removes the need for large support teams to chase reps and brokers for documents. Such a level of automation would allow your firm to dramatically improve its producer/support ratios, something CEOs love hearing.
E*Assist addresses FINRA’s concerns over the monitoring of variable annuity sales though a series of easy-to-learn and use features. Imagine that at the touch of a button you can print your firm’s deferred variable annuity disclosure form complete with the relevant client’s information rather than having to rely on the rep to manually enter them on a blank VA disclosure form. You can also track the date the order/check was received, the date the documents arrived at the OSJ/Home office, the date of the review/approval and the date of the forwarding to the insurance company - all in one easy-to-use order management form. Summaries of progress through each of these stages are available through a variable annuity blotter and a check received blotter, again, all at the touch of a finger.
