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Technology > Marketing Technology

Plante Moran Adopts RiXtrema Fiduciary Tool: Tech Roundup

By Danielle Andrus

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  • RiXtrema IRAFiduciaryOptimizer now available to Plante Moran advisors
  • eMoney to roll out new product suggestion tool
  • Cisco, Apple teaming up to enable cybersecurity insurance discounts

RiXtrema has added Plante Moran Financial Advisors, a registered investment advisor with over $11.9 billion in assets under management, to its list of customers.

The firm announced on Tuesday that Plante Moran will begin using its IRAFiduciaryOptimizer to help its advisors comply with the DOL Impartial Conduct Standards.

“For some time, we have seen the critical need for a tool advisors could use to help them comply with the DOL Rule that recently took effect on June 9,” RiXtrema President Daniel Satchkov said in a statement. “We prepared for this, while many in the industry took a ‘watch and wait’ attitude, expressing doubt the rule would actually be enacted, and hope that it would not. But hope is not a strategy and many advisors realized this and reached out to us for access to the IRAFiduciaryOptimizer suite.”

The IRAFiduciaryOptimizer compares existing retirement portfolios to new recommendations to show advisors how the plans stack up in terms of fees, investment track record, how well they satisfy clients’ risk tolerance and fiduciary best practices.

(Related: How a Fishing Proverb Can Be a Tech Lesson)

Also on Tuesday, eMoney Advisor announced it is releasing a new tool on its platform to bolster its DOL compliance offerings for advisors.

The firm is incorporating technology from CapitalROCK’s RightBRIDGE that will make retirement product suggestions for advisors’ clients from within the eMoney portal.

The Product Profiler scores retirement products to find the right mix for clients. Advisors will be able to show clients a comparison of their current IRA or 401(k) and recommended plans. The Annuity Wizard helps match annuities to clients’ needs.

“This new tool powered by CapitalROCK enables advisors to put their financial plans immediately into action from one place efficiently and compliantly, eliminating the need for double entry and ensuring that planning and products are more in sync,” Lisa Graham, product manager at eMoney, said in a statement. “Our partnership with CapitalROCK reinforces our commitment to providing eMoney users with the tools they need to streamline business operations, serve more clients and grow their businesses.”

These tools are part of eMoney’s Fiduciary Framework initiative, which aims to alleviate advisors’ compliance burden through technology.

(Related: eMoney Compliance Tool Goes Live: Tech Roundup)

Cisco announced on Monday that it is teaming up with Apple to offer customers who use products from both firms discounts on cybersecurity insurance, CNBC reported.

“The thinking we share here is that if your enterprise or company is using Cisco and Apple, the combination of these should make that (cyber-security) insurance cost significantly less,” Apple CEO Tim Cook said at a Cisco event in Las Vegas, according to the news site. “This is something we’re going to spend some energy on. You should reap that benefit.”

David Ulevitch, vice president of Cisco Security, pointed to increased mobility across multiple industries as the catalyst for Cisco’s partnership with Apple. He wrote in a blog post on Monday that Cisco is “collaborating with insurance industry heavyweights,” though he didn’t say who, to create architecture to help those providers “offer more robust policies to our customers. We will do this by enabling continuous security monitoring and a measurable reference architecture that includes technologies from Apple and Cisco.”

Cisco is also integrating with Actiance to offer archiving support for customers who use Cisco Spark for team messaging.

The tool captures any content shared on Cisco Spark almost in real time, including modified and deleted content to show the context in which it was shared.

“Cisco Spark is among the most secure and reliable cloud collaboration tools used by organizations today,” Anthony West, chief technology officer Actiance, said in a statement. “With over a decade of experience in capture, data loss prevention, and active compliance for real-time communications, Actiance supports the needs of its customers who also require communications capture, real-time governance, cloud archival and context-preserved eDiscovery.”

— Read Do’s and Don’ts of Twitter, LinkedIn and Facebook for Advisors on ThinkAdvisor. 

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