The SECURE Act of 2019 increased the complexity of administering retirement plans for clients. Financial advisors are responsible to track the setup, investment, and distribution of these important client resources.
One of the ways to fulfill this responsibility is a detailed review of each client’s investment account at least once a year. The review obligation is easier if the account reviews are spread out over a full year, i.e., review some of the accounts each month.
To that end, our ProTracker Advantage® client relationship management (CRM) system facilitates these annual reviews with a Review field in the Account Flags panel on the Account Details screen.
A filter on the global accounts screen facilitates grouping the monthly reviews into smaller batches for easier execution. This feature is just one of many tools provided by the easy-to-use RMD calculator and tracking tool in ProTracker Advantage.
For more information about calculating RMDs and documenting them, click on protrackerRMD.com.