SIGMA Financial and Sammons Securities Chooses AXIS Retirement for 408(b)(2) Compliance

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With July 1st Department of Labor mandated ERISA deadline looming, AXIS offers turnkey solution to complex 408(b)(2) reporting requirements.

408(b)(2) - 408b2 - fee disclosure - anayltics - ERISA - EBSA

AXIS Retirement Analytics Platform

The AXIS platform provides the connectivity to our plans with assets held away as well as our internal brokerage accounts. They provide the platform, data services and legal documents in their turnkey solution.

Castle Rock Innovations (CRI), a leading provider of technology-based solutions for the retirement industry, today announced that SIGMA Financial Corporation and Sammons Securities Company, LLC. the leading provider of rollover services within the financial services industry have chosen CRI’s AXIS Retirement platform to provide compliance with the Department of Labor’s 408 (b)(2) fee disclosure requirements providing data aggregation and reporting services in compliance with the DOL-mandated ERISA requirements, due July 1, 2012.

AXIS is a SaaS-based platform that enables Banks, Trust Companies, Broker Dealers, Product Manufacturers, Record Keepers and TPA’s to support these new regulatory fee disclosure reporting requirements in a secure and cost-efficient way. The AXIS platform provides complete insight across plans with a single portfolio view to mitigate risks and enable fiduciaries to handle the ongoing daily tasks of monitoring and reporting fees to plans efficiently and effectively.

"The relationship with AXIS is in complete alignment with the 408(b)(2) regulation, and meets our need to provide reporting coverage and analytics across our retirement plan business and to support our financial advisors,” said Brent McCormick, Case Planner / Department Supervisor. "The AXIS platform provides the connectivity to our plans with assets held away as well as our internal brokerage accounts. They provide the platform, data services and legal documents in their turnkey solution.”

AXIS Retirement is designed to service all retirement plan types through a single web-based interface and data repository. The AXIS platform can interface with any system of record supporting retirement plan data feeds, and provides features to edit and generate reports for filings, report plan expenses, plus a comprehensive toolset that allow retirement plan managers and fiduciaries to view their business across multiple recordkeeping platforms. AXIS also worked closely with leading ERISA attorneys to ensure compliance and integrate pre-built legal documentation to expedite filings for its clients.

"We are thrilled to forge this relationship with Sigma Financial Corporation and Sammons Securities Corporation, LLC. We are excited to collaborate with them to integrate data across multiple sources and efficiently deliver compliance and data services from a broad network of platforms and advisors,” said Tom Loch CRI’s Senior Vice President. "Our AXIS data aggregation services for plan assets held away provide a rich and robust retirement plan data mart that allows our customers to become compliant and to report on key business data creating new capabilities and revenue opportunities."

About Castle Rock Innovations, LLC
Castle Rock Innovations is a state of the art enterprise technology services organization that utilizes technical expertise and business knowledge to create value for our clients with focus on Financial Services, Capital Markets and Insurance Industry. CRI is a privately owned and operated corporation with headquarter in Chicago Illinois and offices in CA, CT, NY, NJ, MA, FL and TX. CRI has been recognized in Inc500 as one of the fastest growing private companies. http://www.axisretirement.com

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Tom Loch
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