Riskalyze built the Best Interest Proposal Assessment (BIPA) to help you document and prove you are working in the best interest of your clients. Within BIPA, we have built a custom rollover assessment for qualified accounts such as 401Ks, 403Bs, 457 plans and more.
Note: The rollover assessment tool is available on Riskalyze Select or Riskalyze Elite and can be enabled by our Customer Care Team. To learn more about how you can implement this workflow with your organization, please reach out to us at firstname.lastname@example.org.
In this article:
Starting a Proposal
To start, navigate to a client overview page and click PROPOSALS. From here you can click the + NEW PROPOSAL DRAFT button to start a proposal. This will launch the “Source of Funds” menu and allow you to select Cash, ACAT, Rollover, or Directed Funds. Selecting Cash, ACAT, or Directed Funds will start the standard proposal process — found here.
Note: If Rollover is selected in the Source of Funds menu, the proposal can not change to a complete or selected status until the Rollover Assessment has been completed.
Now that you have selected Rollover, Riskalyze will prompt you to complete a Rollover Assessment. You do not have to complete the Rollover Assessment at this time, you can come back to the proposal and complete the assessment at any time by clicking on the Proposal Actions menu and selecting Complete Rollover Assessment.
Walking through the Rollover Assessment
Once you have started the Rollover Assessment, it will ask you how many accounts you are rolling over (between 1 - 10). This number will determine how many assessments you will need to complete.
You will then be able to add the account name, account type, total investable amount, and the current fees or expenses before going through the series of required questions.
Once submitted, you can now mark your draft proposal as complete and continue on with your normal workflow!
Frequently Asked Questions
How can I view the results of a Rollover Assessment?
Once a Rollover Assessment has been completed, you can access all of the results in the proposals tab. Navigate to the client overview page, click on Proposals, and find the proposal you would like to look into. You can then click Proposal Actions > Rollover Assessment which will display all of the Rollover Assessment results.
Bonus: When generating a Proposed Portfolio report from the client overview page, these Rollover Assessment results will be displayed in the generated PDF.