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Fiduciary Certification
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For Investment Advisors, Fiduciary Advisers, Stewards and Managers
A CEFEX fiduciary certification is an independent recognition of a fiduciary's conformity to all Fiduciary Practices and criteria. It implies that a fiduciary can demonstrate adherence to the industry's best practices, and is positioned to earn the public's trust.
The fiduciary certification is performed by a qualified CEFEX Analyst, and reviewed by the CEFEX Registration Committee to ensure complete impartiality.
A successful certification process, as decided by the CEFEX Registration Committee, results in:
- a CEFEX certificate being issued
- registration on CEFEX’s public database, under Registered Firms at www.cefex.org
- permitted use of the CEFEX mark in both print and web form.
Investment Advisors certified by CEFEX will also receive a copy of a legal opinion issued by Reish Luftman Reicher & Cohen (RLRC) of Los Angeles, Calif. to CEFEX regarding the certification process. The legal opinion states, in substance, that a firm receiving an Investment Advisor certification will have demonstrated, as of the date of the certification, that it has practices and procedures in place that equal or exceed the investment fiduciary requirements of the Employment Retirement Income Security Act of 1974 (ERISA).
Click here to download a sample of this opinion.
CEFEX-certified Investment Advisors also qualify to receive a personalized legal opinion from RLRC for a nominal additional fee. This will be a cost-effective way for an advisory firm that has successfully completed the certification process to further demonstrate its adherence to best fiduciary practices.
Self Assessments
Firms can determine their
readiness for a certification assessment by performing a “Self Assessment of Fiduciary
Excellence: SAFE”. Please download the appropriate SAFE below, or perform an on-line
SAFE by clicking here:http://safe.actifi.com
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