DOL Data management

DOL

GoldenSource for DOL Fiduciary Rule

Firms affected by the Department of Labor (DOL) fiduciary rule, such as broker-dealers and the wealth management community, have yet to face the sort of regulatory scrutiny other financial firms have faced in recent years. As a result, they may have unknowingly overlooked the importance of data management.

The rule is designed to protect retirement investors by requiring financial advisers to act in their clients’ best interests and mitigate or prevent conflicts of interest. GoldenSource addresses these points by offering best practice advice, software and services as firms head toward upcoming compliance deadlines. This leaves room for further regulatory developments as they arise.

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GoldenSource delivers the confidence that your data is fully compliant.

The rule is designed to protect retirement investors by requiring financial advisers to act in their clients’ best interests, and mitigate or prevent conflicts of interest. GoldenSource addresses these points by offering best practice advice, software, and services as firms head toward upcoming compliance deadlines. This leaves room for further regulatory developments as they arise.

  • Confidently deal with pension type assets including IRAs, 401(k)s and vehicles that fall within the scope of ERISA
  • Have proof that the firm always acts in the best interests of their clients
  • Easily choose the most applicable investments for a particular client
  • Maintain financial product information in one place and provide consistent data to other systems, including the front office CRM system
  • Collect, validate, and aggregate all relevant data from vendors and internal systems
  • Automate data processing and storage with a central product repository
  • Establish a clear and reportable audit trail by managing data from a single source
  • Eliminate manual input and create sustainable business processes
  • Ensure consistency across all parts of the organization and remove potential data conflicts

The GoldenSource Advantage

Fully scalable & customizable data governance

  • Map fields according to existing requirements or industry best practices
  • Feed data to downstream and reporting systems

Extensive & comprehensive professional services group (PSG) support

  • Largest in-house PSG in the industry
  • Fast & reliable regulatory response

Future-proof data management

  • Take advantage of 30+ years of industry experience
  • Benefit from the market leading, industry tested GoldenSource data model
  • Proactively address future regulatory requirements

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