Blue Frog Solutions, a provider of life/annuity solutions for order management, compliance, and straight-through processing, released its Annuity Replacement Evaluator (ARE), a tool for analyzing and evaluating Annuity 1035 exchanges and qualified plan replacements.
The Annuity Replacement Evaluator is a hosted solution that allows financial advisors to compare and print annuity replacement evaluations derived from a combination of surrendered contract data entered by the financial advisor, as well as up-to-date annuity new business product information provided by insurance carriers.
Financial advisors enter information about the contract owner and the 1035 or qualified plan replacement (surrendered contract) and select the new business product, features, and feature details from a list provided by insurance carriers. At the completion of the data entry process, the financial advisor is able to review all of the information before generating the evaluation. The advisor then can save the evaluation as a PDF file or print the documents for historical purposes.
"Blue Frog's Annuity Replacement Evaluator will give broker/dealers a leg up in providing reliable annuity evaluation and analysis of information," says Dan Smith, Blue Frog's COO. "With this new tool, financial services firms can be more assured they are in compliance with FINRA Rule 2821."
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