Commonwealth Financial Network and Castle Rock Innovations Partner to Implement AXIS Retirement Analytics Platform™

The Department of Labor introduced regulations in 2012 that require all retirement plan service providers to fully disclose their retirement plan fees, compensation and services provided to plan fiduciaries. In order to help their clients improve efficiency in complying with these regulations, Commonwealth has partnered with Castle Rock Innovations to implement its AXIS Retirement Analytics Platform ™ (AXIS), which includes data aggregation, benchmarking, single sign-on and 408(b)(2) modules.

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AXIS / Commonwealth

'With AXIS, we have made tremendous process improvements, and are now able to provide our affiliates with a more holistic and efficient infrastructure', Paul Mahan, VP, Retirement Services of Commonwealth Financial Network

Chicago, IL (PRWEB) January 13, 2014

Paul Mahan, Vice President, Retirement Services of Commonwealth Financial Network says, “As a leader in the industry, we are dedicated to doing whatever it takes to help our advisors put their clients first and to ensure that our advisors can see and measure results. With AXIS, we have made tremendous process improvements, and are now able to provide our affiliates with a more holistic and efficient infrastructure.”

Paul Mahan says about their choice: “after careful research and consideration, AXIS proved to be the natural choice as it truly is the most comprehensive and user-friendly data and analytics solution. What we liked most about AXIS is that the product could be customized, based upon our unique needs as we continue to build our multi-faceted platform which can dramatically improve our advisors services and offerings. As importantly, the needs and outcomes required and desired from plan sponsors and respective eligible participants. Frankly, the functionality goes well beyond 408(b)(2) fee disclosure. It shall serve as a core part of our architecture that delivers essential fiduciary and non-fiduciary services in the most effective and measurable ways possible.”

Khash Sarrafi, CEO of Castle Rock Innovations, Inc. says about the partnership: “Our partnership with Commonwealth is of the kind that is truly mutually beneficial. We were able to work with them in a way that allowed us to fully optimize our product to their needs, enabling us to offer them the best available service. Through partnerships like this, we are able to not just deliver what is needed, but to exceed our clients’ expectations.”

Commonwealth Financial Network has been breaking new ground for more than 30 years through its commitment to, and continued investment in innovative, advisor-driven technology. Today, Commonwealth is the largest privately held independent broker/dealer–RIA in the United States. Castle Rock Innovations is the industry’s leading data aggregation and distribution engine providing key compliance and benchmarking services, servicing 10 of the top 20 broker dealers in the nation and more than 105 clients.
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About Commonwealth

Founded in 1979, Commonwealth Financial Network, member FINRA/SIPC, is the nation’s largest privately held independent broker/dealer–RIA, with headquarters in Waltham, Massachusetts, and San Diego, California. J.D. Power and Associates ranks Commonwealth “Highest in Independent Advisor Satisfaction Among Financial Investment Firms, Three Times in a Row.” The firm supports more than 1,450 independent advisors nationwide in serving their clients as registered representatives, investment adviser representatives, and registered investment advisers, as well as through hybrid service models. For more information, please visit http://www.commonwealth.com.

About Castle Rock Innovations and AXIS

Castle Rock Innovations has been serving the financial industry for over 20 years by providing our clients with technology that improves efficiency and creates value. In anticipation of 401(k) fee disclosure regulations that were introduced in 2012 by the Department of Labor, Castle Rock innovations developed the Axis Retirement Analytics Platform ™, a real-time, web-based platform that allows retirement broker-dealers, record keepers, banks and retirement plan fiduciaries to meet these regulatory fee disclosure reporting requirements. Today the Axis Retirement Analytics Platform ™ is an industry leading product used by 10 of the top 20 broker dealers in the nation and more than 105 clients. AXIS currently holds data from over 75+ Record Keepers and Insurance companies and provides a zero touch automated connectivity (Single Sign-On) to the largest data sources.

Castle Rock Innovations Inc. is a privately owned and operated corporation with headquarters in Chicago Illinois and offices throughout. Our company has been recognized by Inc500 as one of the fasted growing private companies. http://www.axisretirement.com


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