Wagner Law Group Legal Opinion of RightBridge Form 5500 Fee Methodology

SALT LAKE CITY, April 26, 2022 (GLOBE NEWSWIRE) -- CapitalROCK, the makers of RightBRIDGE Systems, retained Marcia Wagner, and the team at the Wagner Law Group, to review the fee methodology used in the RightBRIDGE Rollover analysis. The Wagner opinion stated “RightBRIDGE Fee Methodology comports with the flexibility offered by the DOL guidance for PTE compliance” as well as stating that “The RightBRIDGE Form 5500 Fee Methodology, in form, appears to be at least as prudent for meeting the Financial Institution’s obligations as creating a system based solely on access to individual participants 404a-5 Disclosures to determine a plan’s per participant administrative fees and expenses.”

The review of the fee methodology is the second CapitalROCK project completed by the Wagner Law Group. The first project, completed in the fall of 2021, had the Wagner Law Group evaluate the RightBridge process for PTE 2020-02. This opinion was focused on the complete rollover process within RightBRIDGE. The Wagner Law Group found that the “RightBRIDGE Product Profiler and relevant Wizards may greatly assist Financial Institutions and their Investment professionals to operate in compliance with the PTE, and may be an evolving best practice for use in creating a Financial Institution’s policies and practices for investment advice covering IRA rollover recommendations”.

“With regulators continuing to provide guidance on 401k rollovers, most recently the SEC, we decided that a third-party opinion focused specifically on the fee methodology used in RightBRIDGE could provide additional insights and feedback to our clients,” said CapitalROCK Chief Operating Officer, Brian Hendricks.

About CapitalROCK: CapitalROCK, LLC provides rule-based product validation/selection tools and needs-based customer analytics to the financial services industry. CapitalROCK was founded in 2007 by a group of industry experts that have been building customer relationship and wealth management solutions for the financial services market for more than 30 years.


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