WORTHINGTON, Ohio, Nov. 18, 2016 /PRNewswire/ -- AI Insight Inc., a leader in alternative investment research, training and compliance documentation, announced today that it launched its new fee and compensation report to assist firms in meeting U.S. Department of Labor (DOL) fiduciary rule-related obligations.
"The report is designed to help advisors understand the underlying value of alternative investment fees and compensation," said Sherri Cooke, President and CEO, AI Insight. "Advisors now can access this fee data to support their firm's new fiduciary standards."
The Program Compensation Report provides transparent, convenient access to alternative investment fee data, including upfront selling commissions, management fees, net proceeds, revenue sharing and more, along with industry rankings across 16 categories and detailed notes.
Under the new DOL rule, firms must "give prudent advice that is in the customer's best interest, avoid misleading statements, and receive no more than reasonable compensation."1 The new Program Compensation Report helps to specifically support this new standard, providing an overview of all fee categories per program listed on AI Insight.
Highlights of the report include:
- Detailed overview of 16 categories of compensation and fee data
- Fee categories organized by three phases of the investment's lifecycle: offering, operational and liquidation
- Separate fee reports per share class for all programs
- Industry mean, median and range values by category, including how each feature ranks against similar programs
- Ongoing updates directly from supplements, 10Qs, 10Ks and other available sources
The report was developed by AI Insight's alternative investment professionals, with close input from the company's broker dealer and sponsor subscribers as well as industry experts.
As the DOL releases its series of DOL fiduciary rule-related FAQs, AI Insight will continue to enhance and add new functionality to the report.
The Program Compensation Report is just one of many solutions AI Insight offers to support firms in providing a "mechanism in place for the ongoing monitoring," 2 a "comprehensive system to monitor and supervise," 3 a platform to "properly train advisers," 4 and reports and alerts to "correct any identified problems." 5
Also newly available from AI Insight is a premium reporting package for Sponsors to help them compare programs to other industry offerings based on fees, offering price and other key offering characteristics. This package includes the Program Compensation Report, Comparative Reports and Financial Performance Reporting.
As industry changes continue to prompt Sponsors to evolve their product structure and design, clear insight into how programs compare to others in the industry is now more important than ever.
12345Department of Labor Conflict of Interest Final Rule, Best Interest Contract Exemption, pages 20947, 21047, 21039, 21016, 21039 (April 2016)
About AI Insight
AI Insight provides broker dealers, RIAs and advisors access to an innovative platform of alternative investment programs, including a full spectrum of research, education, marketing and compliance support. Subscribers can research the individual investment offerings from AI Insight's universe of programs to train, track compliance activity, receive marketing support and updated performance monitoring—all via a customized, dedicated platform. The platform also helps sponsors to elevate their visibility, increase program accessibility, promote transparency and provide financial performance updates. AI Insight provides an interactive, sophisticated product platform for broker dealers, RIAs, financial advisors and sponsors to connect. To learn more, visit www.AIInsight.com.
Executive Vice President
SOURCE AI Insight Inc.