Firm Says New Retirement Plan Analytic Platform Ready for 408(b)(2)

April 25, 2011 ( - Castle Rock Innovations, LLC (CRI) has rolled out a servicing platform that it says addresses the Department of Labor’s 408(b)(2) fee disclosure requirements.


According to a press release, AXIS Retirement Plan Analytic Platform (AXIS) is designed to service all retirement plan types through a single web-based interface and data repository, and can interface with any system of record supporting retirement plan data feeds. Additionally, the AXIS platform provides features to edit and generate reports for filings and report plan expenses, with tools that allow retirement plan managers and fiduciaries to view their business across multiple recordkeeping platforms.

Chicago-based Castle Rock, which describes itself as a provider of technology-based solutions for the retirement industry, said that the patent pending AXIS is a web-based software service “that supports the ability for Broker Dealers, Product Manufactures and TPA’s to support these new regulatory fee disclosure reporting requirements”. A press release notes that the AXIS platform “provides complete coverage from brokerage platform to retirement plan platform and provides the ability for advisors to identify and establish plans outside the traditional turnkey environments”, and that by “providing a single view and the ability to manage reporting risks the AXIS platform allows fiduciaries to handle the ongoing daily tasks of monitoring and reporting fees to plans efficiently and effectively”.

Tom Loch, Senior Vice President of Castle Rock Innovations, LLC, noted “We spent the time to understand the real pain that the industry would go through to meet the new reporting requirements. We found that the Broker Dealer community did not have a systemic capability to identify, collect and establish data from various partner systems for the purpose of managing plan level fee data and generating a comprehensive Fee Disclosure Document for their plans. We also learned that many Broker Dealers are very concerned about identifying and tracking plans that are sold and serviced outside of the traditional manufactures environment.” 

Loch noted that the firm “…focused our efforts within our servicing platform in its ability to collect and transform data into single data repository and to provide an interface for managing, collecting and reporting plan level fees from many system sources. Our second focus was to build the data processing engine necessary to track changes to fees and the work flow processes to report them efficiently based upon the 60 day reporting rule.”

The AXIS Platform is scheduled for commercial release May 2011.

Castle Rock Innovations is a privately owned and operated corporation with headquarter in Chicago Illinois and offices in CT, NY, NJ, MA, FL and TX.  Additional information is available at