Change Management

Working on Change Management Related to DOL Regulation? Don’t forget Predictive Analytics

Most of us working the US wealth management industry knew this day was coming. Ever since the US Department of Labor (DOL) put forth its “Proposed Fiduciary Rule” last year, we anticipated a regulation. When the DOL announced the final version, “The Conflict of Interest – Retirement Investment Advice” on April 6, 2016, it was not out of the blue.

Financial Institutions impacted by the regulation – especially Broker Dealer organizations and Insurance companies – would have been looking at people, process and technology changes necesssary to stay compliant much before April.  Having been involved in one or two regulation-related change management initiatives, I understand and appreciate the level of focus and energy DOL rule implementation effort requires.

With all the urgency to implement this new rule before the deadline, some organizations may be forgetting a key ally … something that can help them weather the storm and minimize potential negative impacts of this regulation: Predictive Analytics.

In my earlier posts, here and here, I wrote about the relevance of predictive analytics and data science to Financial Institutions. This time around, S2E Consulting (our company) and TransOrg Analytics – a niche predictive analytics and big data company (and our strategic partner) have teamed up to share why and how predictive analytics solutions can make your DOL rule-related change management work go further.

In this 4-min video, Naveen Jain, CEO of TransOrg Analytics, and I share

  • Why this is the right time for your Broker Dealer organization to be looking at predictive analytics [0:20]
  • How tried and tested predictive analytics solutions can help augment your DOL rule implementation [1:10]
  • A precedent where Financial Institutions impacted by regulation successfully employed predictive analytics [2:17]


If you want to know more, you can also download our free perspective papers which go a little deeper on these topics here.

If you are working on an effort to comply with the DOL rule at your Broker Dealer or Insurance organization, consider investing some time on predictive analytics to augment your change management efforts. Predictive analytics will not be a distraction, but rather an asset!

Authored by Sandhya Krishnamurthy, CEO of S2E Consulting, LLC.

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