Reg BI (Regulation Best Interest) Tracker

Principal workflows

• Profile: Each client's investment profile is brought together from your CRM and account systems, so recommendations are checked against current information.
• Recommend: When a representative makes a recommendation, the Tracker records the product, the alternatives considered, the costs and the rationale, and runs the firm's checks.
• Supervise: Supervisors work a queue of flagged recommendations with the profile, alternatives, costs and rationale on one screen, and record their decision.
• Test and evidence: Compliance tests samples of recommendations, tracks patterns across representatives and products, and produces evidence for examiners.

Who uses it

• Broker-dealers and dual registrants serving retail customers
• Financial professionals who make recommendations to clients
• Branch and OSJ supervisors who review recommendations
• Chief compliance officers and compliance testing teams
• Internal audit and examiners, who need evidence of each recommendation

Reporting

• Flagged recommendations waiting for supervisory review
• Supervisory decisions by branch and supervisor
• Recommendation patterns by product, cost and representative
• Rollover and account-type recommendations
• Form CRS delivery and gaps
• Testing findings and their status

Features

• Point-of-sale rationale: Representatives record why a recommendation is in the client's best interest while making it, using prompts your firm configures.
• Profile checks: Recommendations are checked against the client's investment profile, including objectives, risk tolerance, time horizon and liquidity needs.
• Alternatives comparison: Reasonably available alternatives from your product shelf shown with their costs and features, and the ones considered recorded.
• Cost visibility: Fees, commissions, share class and other costs for the recommended product and its alternatives shown side by side.
• Rollover and account-type reviews: Recommendations to roll over retirement assets or change account type capture the comparison and reasoning those decisions need.
• Configurable firm rules: Your firm's thresholds for concentration, complex products, costs and frequency of trading are set as rules, with each change recorded.
• Supervisory queue: Flagged recommendations routed to the right supervisor with everything needed to decide, and decisions recorded with a reason.
• Disclosure records: Form CRS delivery and conflict of interest disclosures recorded per client, with the version delivered.
• Conflicts register: Conflicts identified by the firm recorded with their mitigation, and linked to the recommendations they affect.
• Compliance testing: Sample recommendations for review, record findings and track them until they are resolved.
• Pattern review: Views of recommendations by representative, product and branch to find trends such as concentration in higher-cost products.
• Exam-ready audit trail: Who recommended, reviewed, approved and changed what, and when, for every recommendation.

Integrations

• CRM and client profiles: Client investment profiles, account details and contact records from your CRM, including Moraph's CRM for Finance managed service.
• Order and trading systems: Recommended transactions captured from your order entry or trading platform so recommendations are recorded where the trade starts.
• Product and cost data: Product, share class and fee data from your product master or data vendor feeds you already license.
• Disclosure delivery: Form CRS and disclosure delivery events from your document delivery or e-signature system.
• Communication archive: Links to related client communications in your archive, so reviewers can see what was discussed.
• Single sign-on: Staff sign in through your identity provider (SAML or OpenID Connect).
• Work API: Recommendation, review and testing data available to your data warehouse and reporting tools through the Moraph Work API.

Deployment

• Moraph cloud: Hosted and operated by Moraph in the United States region. United Kingdom and Australia regions are available for firms that need them.
• Dedicated environment: A single-tenant environment for firms whose policies require isolation, scoped in the proposal.
• Embedded in advisor tools: Recommendation capture can be launched from your CRM or order entry screens so representatives do not switch systems.

Security and privacy

• Single sign-on: Staff sign in through your identity provider, so your password and multi-factor policies apply.
• Role-based access: Representatives see their own clients, supervisors their own representatives, and reviewing is separate from recommending.
• Client data protection: Client profile data is limited to the roles that need it; product and administrator roles do not see it.
• Encryption and keys: Client data is encrypted, with keys Moraph staff cannot use without explicit, time-bound authorization.
• Complete audit trail: Every view, recommendation, decision and change is logged with the person and time, and cannot be edited.
• Data residency: Data stays in the hosting region you choose: the United States, the United Kingdom or Australia.

Limitations

• The Tracker does not decide whether a recommendation is in the client's best interest. Representatives, supervisors and compliance make that judgment; the Tracker records it and the evidence.
• Checks depend on the completeness of client profile, product and cost data supplied from your systems.
• It does not produce or file Form CRS. It records delivery of the version your firm has prepared.
• It does not cover investment adviser fiduciary obligations under the Advisers Act on its own, although dual registrants can record advisory recommendations in it.
• It is designed for US broker-dealer requirements. Suitability rules in other countries are not included.
• It is not an order management system and does not block trades; flags are routed for review according to your procedures.
• Firm rules and thresholds are your firm's decisions; the Tracker records and applies them but does not set them.
• Product and cost data from third-party vendors is subject to your own licences with those vendors.

Next steps

Book a demonstration or a technical briefing at www.moraph.com/solutions/reg-bi-regulation-best-interest-tracker. Purchasing routes and company information: www.moraph.com/how-to-buy.