BEDMINSTER, NJ--(Marketwired - November 09, 2016) - The Investment Center, Inc., an independent broker-dealer, has partnered with the Pension Resource Institute, LLC (PRI) to assist in their preparations for the Department of Labor (DOL) rule, which goes into effect next April.
PRI delivers strategic consulting on DOL regulations and ERISA compliance resources to the firms it partners with. In addition, the partner firms' advisors have access to training and technology-based resources, through PRI's Advisor Resource Center (ARC) platform.
President and CEO, Ralph DeVito stated:
"While there is no doubt the shift in regulation will present challenges, there are also opportunities and we believe our partnership with PRI will help our advisors continue to grow their retirement business in a profitable and sustainable manner."
The Investment Center has a DOL team, with representatives from all departments, dedicated to preparing their advisors for the implementation of the rule.
Jason C. Roberts, Chief Executive of PRI and partner at Retirement Law Group, explains:
"The Investment Center, Inc. and their advisors appear to be very well positioned in regard to the DOL rule."
On the decision whether to offer commissions-based investment products, Mr. Devito explained:
"By using the best interest contract (BIC) exemption we fully expect our advisors will be able to continue offering commission-based investment products to retirement account holders."
In an internal memo to their advisors, The Investment Center announced a new DOL resource center for their advisors to leverage as they prepare for the rule.
About The Investment Center, Inc.
Established in 1986, The Investment Center, Inc. is an independent broker-dealer with over $6.2 billion in assets under management. (Member FINRA/SIPC) based in Bedminster, NJ serving approximately 250 financial advisors. For more information about TIC, visit www.investmentctr.com, seven time winner of the "Broker-Dealer of the Year" award.
About PRI - Integrating securities and ERISA expertise, PRI delivers competitive and compliant solutions to financial institutions serving the needs of retirement investors. Bringing together proven expertise -- ranging from compliance and supervision to sales and distribution -- PRI maintains a comprehensive library of turnkey compliance documents, including model agreements, disclosures, policies and procedures for serving ERISA plans and participants, non-ERISA plans and IRAs and IRA rollovers. ARC provides advisors with a one-stop source for the most recent retirement industry information, including fiduciary training and tools to help advisors differentiate and scale their practices.
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