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The Depository Trust and Clearing Corporation (DTCC)  was out front this year, helping the insurance industry address new data management challenges posed by a forthcoming federal mandate regarding “fiduciary” advice for retirement investments. The mandate, known as the fiduciary rule, aims to discourage the use of high-cost, commission-based investment products and requires any advisor providing advice on IRA and 401(k) accounts to make investment recommendations that are in the client’s best interests.

Collaborating with industry participants, DTCC’s Insurance & Retirement Services (I&RS) has created a new service, DTCC Insurance Profile, that can make it easier for insurance carriers and distributors to collect and report the fee, commission and expense data needed for disclosure as the industry moves toward a fiduciary standard for retirement-savings advice. 

In this article in Investment News, Ann Bergin, DTCC Managing Director and Head of Wealth Management Services, describes the industry’s fiduciary-related data needs and DTCC’s automation solution.