The Product Profiler® maps product types to the client’s needs and uses a scoring methodology to help determine which mix of investment vehicles or products is best suited for an individual client’s needs. These suggestions are combined with ReasonText™ that explain why a product type fits a client’s needs. The Product Profiler has been configured to meet the needs of SEC Reg BI.

The Process

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Product Type Selection and Validation

Fact Finding: Through the use of a dynamic questionnaire the Product Profiler® ensures that necessary case data is gathered.

Needs Analysis:  The scoring methodology determines a mix of investment vehicles or product types that are a best interest fit for the client.  These suggestions are combined with easy-to-read ReasonText™ that  explains why a product type fits the client’s needs. Needs can be specified and include retirement, college, or other spending goals.  A comprehensive discussion of retirement plan rollover decision making is also included.

 

Product Type Selection or Validation:  The primary goal of the Product Profiler® is to open a categorical based dialogue with the client to determine which products are in their best interest. This is explained to the client using compliance approved ReasonText™. Where needed, the system will perform calculations and graphically demonstrate the clients financial situation.

 

Product Type Allocation:  The Product Profiler® provides justification and validation for each categorical suggestion and opens the door for further analysis that can be conducted to locate investments, annuities, and life insurance products.

 

Dynamic Questionnaire

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The Product Profiler® uses a dynamic questionnaire to collect client data on the following:

•  Retirement Income Needs    

•  Risk Tolerance    

•  Guarantees Versus Liquidity

•  Proximity to Income Need    

•  Current Assets    

•  Retirement Contributions


 

Evaluation of Retirement Options

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The RightBRIDGE scoring engine is used to determining an appropriate strategy or combination of strategies for retirement income funding.  

Based on the client’s information input in the questionnaire a proposed retirement income allocation is displayed. Product type analysis, retirement income projections, and retirement income allocation are all presented on one interactive screen.

 

Solution Summary and Allocation

Similar to the Annuity Wizard, the Product Profiler® using a scoring methodology to help determine which type of retirement vehicles or products are best suited for an individual client.  

One highly desirable feature of RightBRIDGE is that it provides robust client-specific text that assists an advisor in communicating how a product or configuration meets the client’s needs.  If an advisor clicks “Details” by each product type ReasonText™ is presented.

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Rollover Analysis

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If the customer indicates that they have current retirement assets in a 401k or held away IRA the following input screen is designed to collect information about the account.

 If the information on an existing plan has been provided from data aggregation this information can be pre-populated.

Once the information is either input or imported from an aggregator the Product Profiler will analyze the current plan and compare it to your firm’s IRA options and provide an analysis which includes a best interest check.  

See the screen below for sample analysis and ReasonText™. If the best interest check is positive a green check mark will appear in the upper right hand corner if it is negative a red - will appear.

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