NEW YORK, May 2, 2016 /PRNewswire/ -- DST kasina, LLC a provider of data-driven insights and distribution solutions to financial companies around the world, today released its latest white paper analyzing the implications of the Department of Labor's final Conflict of Interest Rule for asset managers.
The final rule, which was published April 8, 2016, includes key modifications to the proposed rule ensure continued access to advice and reduce the compliance burden. Important changes to the best interest contract exemption (BICE) address asset managers' concerns about recommending proprietary products, working with existing clients, and using variable compensation.
The DST kasina paper – "Implications of the Final DOL Fiduciary Rule for Asset Managers" – analyzes how the "fiduciary rule" will affect the way asset managers do business and suggests ways they can prepare themselves for the new requirements.
According to the paper's author, Julia Binder, Head of Strategic Marketing Research for DST kasina, the white paper reviews critical questions asset managers should address in revising their business strategies to meet the requirements of the new rule.
"Our research finds that leading firms are already adapting or developing new business models, collaborating with technology vendors, and making strategic acquisitions in response to broader trends in financial services," says Binder. "Important among those changes are a move to lower-cost passive investment products, a shift to fee-based accounts, and the use of automated digital advice."
According to DST kasina's analysis, asset firms preparing to thrive should consider:
- Working with key distribution partners to deliver more competitive products and services,
- Integrating digital portfolio-building and advice options,
- Obtaining deeper insight into advisors and investors to provide better support and service,
- Overhauling and extend product offerings that anticipate demand for efficient management,
- Augmenting required disclosure of costs and fees with education and explanation, and
- Developing communications initiatives to build interest and trust with investors in addition to advisors.
In addition to reviewing implications of selected aspects of the rule, the DST kasina paper includes recommendations for adapting to new disclosure requirements, providing investment education, and anticipating demand for lower-cost product options, as well as ways firms can identify new opportunities to help distribution partners, advisors, plan sponsors, and account owners.
"Firms that are anticipating the changes to their distribution, product, and marketing strategies to help them remain competitive will be positioned to thrive during times of significant industry change," says Binder.
For a copy of DST kasina's "Implications of the Final DOL Fiduciary Rule for Asset Managers" white paper, contact Myra Bartalos, Head of Marketing, at firstname.lastname@example.org.
About DST kasina
DST kasina, LLC helps leading companies in the financial services industry manage data, gain insight, and ignite change in their business. Through effective use of advanced analytics, research, and distribution intelligence technologies, DST kasina enables business to better understand, predict, and optimize key business factors impacting their asset growth and profitability. For more information on how to leverage DST kasina's strategic advisory services, visit www.kasina.com.
DST Systems, Inc. (NYSE: DST) is a leading provider of specialised technology, strategic advisory, and business operations outsourcing to the financial and healthcare industries. Combining unmatched industry knowledge, critical infrastructure and service excellence, DST helps companies master complexity in the world's most demanding industries to ensure they continually stay ahead of and capitalise on ever-changing customer, business, and regulatory requirements. For more information, visit the DST website at www.dstsystems.com.
Laura M. Parsons
DST Global Public Relations
+1 816 843 9087
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/final-dol-fiduciary-rule-has-key-implications-for-asset-managers-according-to-dst-kasina-300260905.html
SOURCE DST kasina, LLC