The InvestorCOM and Nitrogen integration allows advisory firms to start a proposal workflow within Nitrogen and seamlessly analyze and document PTE 2020-02 compliant rollover recommendations for clients in InvestorCOM.
In this article:
- Setting up the Integration
- Starting a Proposal in Nitrogen
- Documenting Best-interest Recommendations in InvestorCOM
- Reviewing Recommendations
Setting up the Integration
The first time you use InvestorCOM with Nitrogen you will need to establish the integration. You can start this process by reaching out to your Enterprise Relationship Manager to have the integration activated for your firm.
Note: The InvestorCOM integration is available for firms of 50+ users. If you have additional questions on how to gain access to this integration, please contact us at firstname.lastname@example.org.
If a firm has opted into the rollover analysis process, the InvestorCOM tile will appear in Settings > Integrations > InvestorCOM.
Starting a Proposal in Nitrogen
Proposals are your way to build and deliver recommendations to your clients, and they provide a fantastic opportunity to brainstorm ideas with colleagues and clients alike. There are a variety of ways in which you can start a proposal for a prospect or client.
You can learn more about how to start a proposal here.
When starting a proposal in Nitrogen, users will be prompted to identify the source of assets. Advisors can choose from Cash, ACAT, Rollover, Directed Funds, or a customer source.
Documenting Best-interest Recommendations in InvestorCOM
Once the source of funds has been identified, users will be redirected to InvestorCOM on a separate tab. Here you’ll be directed into a new session of the RolloverAnalyer in InvestorCOM.
InvestorCOM will ask you to enter the client details including name, birth date, and email. The other fields are optional.
Next, you’ll be asked to complete the Service and Fit for the specific client. This is an opportunity to rate the clients’ needs on a scale of 1-10 and the availability of these services in their current plan (Ex: Retirement and estate planning, insurance and annuity planning, portfolio rebalancing, asset consolidation, and more).
Note: Service and Fit ensure that new plans are compliant with PTE and Reg-BI regulations.
Next, advisors will be guided through a process where they can look up the existing plan. Using RolloverAnalyzer, your team can input the client’s 404a5, look up employer-sponsored plans from the Form 5500 database, and leverage industry benchmark functionality straight from the app.
On completion of the Rollover Analysis, your client will be emailed the report output and you can now mark the proposal as complete inside Nitrogen.
If you are unable to complete the Rollover Assessment, you can navigate back to the InvestorCOM rollover by selecting Proposal Actions (3 dot menu) and Complete Rollover Assessment.
When a Rollover Assessment is complete, you can always navigate to see the results by selecting the Proposal Actions (3 dot menu) and Rollover Assessment.
If your firm uses the Proposals Dashboard, all InvestorCOM Rollover Assessments will populate in the table view under the Proposal Type column.
You can learn more about the InvestorCOM Rollover Analysis process here.