Broadridge's Fi360 Launches Remote Proctoring, Enabling Online Certifications for Financial Advisors

Rhea-AI Summary

Broadridge Financial Solutions (NYSE:BR) has launched a new remote proctoring exam for financial advisors, enabling them to obtain fiduciary designations safely online. This initiative, in partnership with ProctorU, addresses the growing demand for such certifications amid social distancing norms. The exams meet ANSI National Accreditation Board standards, allowing candidates to take them from home. With over five million proctor exams administered, this solution aims to enhance accessibility and might set a new standard in certification processes.

Positive

• Launch of remote proctoring exams enhances accessibility for financial advisors.
• Addresses the need for fiduciary designations amid social distancing.
• Partnership with ProctorU ensures high standards in online certification.

Negative

• None.

NEW YORK, July 28, 2020 /PRNewswire/ -- Financial advisors seeking nationally recognized fiduciary designations can now take required exams safely online via a new remote proctoring exam launched this month through Broadridge Financial Solutions, Inc.'s (NYSE: BR) Fi360 fiduciary education training and technology business. Partnering with ProctorU, an online 24/7 proctoring and identity management solution, Fi360 will administer remote proctoring exams for its Accredited Investment Fiduciary^® (AIF^®) and Professional Plan Consultant® (PPC®) Designations.

Given the recent implementation of Regulation Best Interest, Broadridge identified the need for technology-based solutions for financial professionals looking to receive proper designations while abiding by stay-at-home and social distancing mandates.

"The need for advisor designations and certification exams did not cease when we moved to a virtual world, forcing us to re-examine the proctoring process for clients," said Michael Muirhead, AIF®, PPC®, senior director, learning and development at Broadridge's Fi360. "Through remote proctoring, clients can now take the certification exams from the safety of their home and meet ANSI National Accreditation Board (ANAB) standards for an independently accredited designation. We believe that online proctoring may become the new gold standard as we return to a new normal."

The remote proctoring solution seamlessly interfaces with Fi360's existing designation exam, creating an easy, intuitive user experience for each advisor. ProctorU has administered over five million proctor exams for over 1,000 clients through a human-technology hybrid solution, which combines live observation of the participant being proctored with sophisticated artificial intelligence capabilities and features.

For more information on this solution, as well as Fi360's other offerings and designations for fiduciary-minded advisors and financial professionals, please visit www.Fi360.com.

About Fi360 
Fi360, a Broadridge® Company, is a fiduciary education, training and technology company that helps financial intermediaries use prudent fiduciary practices to profitably gather, grow and protect investors' assets. Since 1999, the firm has provided financial professionals with the tools necessary to act as a fiduciary in their work with investors. Headquartered in Pittsburgh, PA, Fi360 is the home of the Accredited Investment Fiduciary® (AIF®) designation, the Fiduciary Focus Toolkit™ and the Fi360 Fiduciary Score®. Fi360 is also the parent company of CEFEX and was acquired by Broadridge Financial Solutions, Inc. (NYSE:BR), a global Fintech leader and part of the S&P 500® Index, in 2019. Learn more at www.Fi360.com, via Twitter or on LinkedIn.

About Broadridge
Broadridge Financial Solutions, Inc. (NYSE: BR), a $4 billion global Fintech leader, is a leading provider of investor communications and technology-driven solutions to banks, broker-dealers, asset and wealth managers and corporate issuers. Broadridge's infrastructure underpins proxy voting services for over 50 percent of public companies and mutual funds globally, and processes on average more than U.S. $7 trillion in fixed income and equity securities trades per day. Broadridge is part of the S&P 500® Index and employs over 11,000 full-time associates in 18 countries. For more information about Broadridge, please visit www.broadridge.com.

About ProctorU
ProctorU provides a full suite of online proctoring and identity management solutions for education, professional development and credentialing organizations. With patented, 24/7 live proctoring and a fully automated platform, both backed by artificial intelligence, ProctorU offers a powerful, convenient and cost-effective alternative to physical test centers. ProctorU increases access to online learning while ensuring exam integrity and accountability for any test-taker. ProctorU.com

Media contact:
Matthew Luongo
Prosek Partners
+1 646-818-9279
mluongo@prosek.com

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SOURCE Broadridge Financial Solutions, Inc.

FAQ

What is Broadridge's new remote proctoring exam for financial advisors?

Broadridge's new remote proctoring exam allows financial advisors to obtain fiduciary designations online safely.

When was the remote proctoring exam launched by Broadridge?

The remote proctoring exam was launched in July 2020.

How does the remote proctoring exam help financial advisors?

It enables financial advisors to take certification exams from home, complying with social distancing measures.

What fiduciary designations can be obtained through Broadridge's remote proctoring exam?

Advisors can obtain the Accredited Investment Fiduciary® (AIF®) and Professional Plan Consultant® (PPC®) designations.

What technology does Broadridge use for the remote proctoring exams?

Broadridge partners with ProctorU, which uses a hybrid of human observation and AI for proctoring.