CEFEX | Fiduciary Excellence at Investment Advisory Firms

2015.09.16	CEFEX brings practice management research to advisory firms CEFEX is enhancing its fiduciary assessment program to include the Practice Management Benchmark survey and summary report by Ann Schleck & Company. During the annual CEFEX assessment, advisory firms now have the option to complete a survey on operational matters such as human resources, sales & marketing, client management and fees. Participating firms will receive the most recent Practice Management Benchmark Summary Report which is essential for benchmarking their operations. See announcement
2014.12.15	Tibble Vs. Edison Amicus Brief Filed CEFEX Analyst Firm Cambridge Fiduciary Services files an amicus brief with the U.S. Supreme Court regarding the use of retail cost mutual funds when lower cost institutional class funds are available. See brief
2014.05.20	CEFEX adds data security requirements into certification CEFEX has expanded its assessment guidelines to include more data security questions, reflecting the heightened sensitivity to this issue and the ever increasing risk of data security breaches. We know that CEFEX-certified firms strive to implement the industry's best practices when it comes to protecting investor information. See Release
2014.03.17	fi360 and CEFEX provide comments to SEC Strategic Plan fi360 and CEFEX propose the introduciton of third party audits to help the SEC address the growing challenges of regulating the investment advisor industry. View the letter
2014.03.07	CEFEX Gaining Adoption CEFEX designations are gaining more widespread adoption, and some say that working with an adviser with the designation could benefit plan sponsors. View the article at PlanSponsor
2013.11.15	Fee Disclosure website launched CEFEX Investment Advisor Gordon Asset Management (GAM) has launched a website dedicated to helping plan sponsors fulfill their fiduciary obligations. GAM has CEFEX Analysts on staff who conduct Service Provider Disclosure Reviews for plan sponsors. Visit website
2013.11.01	Colonial Surety now offers discounted insurance program Colonial Surety of Montvale, NJ now offers special rates on Errors & Omissions insurance to recordkeepers and TPAs certified in the ASPPA Retirement Plan Service Provider certification program by CEFEX. See the Release
2013.09.25	CEFEX-certified governmental and multiemployer stewards to qualify for insurance discounts Euclid Speciality Managers, LLC is offering discounts on fiduciary liability insurance to CEFEX-certified stewards View the Release
2013.06.01	Rule 408(b)(2): The New Fiduciary Paradox CEFEX Analyst Mark Mensack provides a perspective on the increased attention plan sponsors should give to service provider fee disclosures and conflicts of interest. View the Commentary
2013.04.24	CEFEX delivers first independent fee disclosure assessment News release describing how CEFEX enables the delivery of 408(b)(2) legal opinion letters to plan sponsors from law firm Drinker, Biddle & Reath. View the Release
2012.10.10	The 408(b)(2) Trap for PlanSponsors Plan sponsors and their officers who make 401(k) decisions, face lawsuits and penalties if they do not take steps to comply with the new regulatory requirements. This is a CEFEX Expert Commentary from Fred Rreish of Drinker, Biddle & Reath, LLP. View the Commentary
2012.10.04	Plan Sponsor Information Regarding ERISA Service Provider Disclosures A Client Bulletin from the law firm Drinker Biddle & Reath describing considerations for plan sponsors as a result of ERISA regulation 408(b)(2). This is excellent rationale for plans to undertake a fiducairy review by CEFEX. View the Bulletin
2012.06.10	CEFEX Analyst Commentary: Fiduciary Wake-Up Call CEFEX Analyst, Roger Levy comments on the fiduciary implications of the recent Tussey v. ABB court decision. View the Commentary
2012.06.01	CEFEX Firm Profile: South Texas Money Management STMM has been certified since June 19, 2007. View Profile
2012.04.30	The Fiduciary Assessment of an Investment Advisor This article appeared in the Spring 2012 edition of ASPPA's "Plan Consultant" magazine. It describes a complete fiduciary assessment of an Investment Advisor, and may be helpful to CEFEX-certified Advisors who need material for client prospects. View a pdf of the article.
2012.04.25	Expansion of CEFEX Assessment Guidelines for 408.b-2 and 404.a-5 CEFEX announces the expansion of its assessment methodology for plan sponsors and service providers, in response to the Department of Labor regulations 2550.404a-5 and 2550.408.b-2(c). The expansion addresses the fiduciary requirements for fee disclosure in participant-directed individual account plans. View the News Release
2012.01.31	How to Foster a Best Practice Culture Webinar intended for Third Party Administrators, describing how the certification process instills a culture of accountability and pride at certified firms. Approximately 40 minutes. Requires registration with Thomson - Reuters. View the webinar
2012.01.10	CEFEX Firm Profile: Pension Solutions, Inc. Pension Solutions, Inc has been certified since March 4, 2010. View the Profile
2011.12.10	CEFEX Firm Profile: Actuarial Consultants Inc Actuarial Consultants Inc. has been certified since April 30, 2009 View the Profile
2011.10.03	CEFEX and Wealth Management In this article entitled "10 Tips To Improve Family Office Investing", Edward Siedle of Benchmark Financial Services mentions the importance of annual third party audits as performed by CEFEX. View the article
2011.06.01	CEFEX Firm Profile: SageView Advisory Group SageView Advisory Group has been registered since February 19, 2009. View the profile
2011.06.01	CEFEX Firm Profile: Capital Advisory Group Capital Advisory Group has been certified since March 18, 2010. View the Profile
2011.05.11	Guidance for ASPPA certification candidates This article published in the Spring 2011 edition of The ASPPA Journal, provides a summary of the requirements for TPA and recordkeeper service agreements. Based on the ERISA 408(b)(2) regulation, it describes how CEFEX will assess service agreements for ASPPA Service Provider certification candidates, once the regulation is finalized. An excellent way to prepare for forward-looking firms! View the article
2011.04.18	Certified firm profiled Ingham Retirement Group of Miami, FL has been certified since September 12, 2006. This profile provides detail on the firm and its experience. Please contact admin@cefex.org if you would like your firm profiled. View the profile
2011.02.10	The Importance of Reputation Management This article is strikingly aligned with the CEFEX certification program. It explains why companies should have a strategy to manage their reputation. A critical tactic in a reputational strategy is to increase trustworthiness and transparency. The CEFEX program helps companies implement a culture of best practice management, thereby engaging staff and differentiating the firm in a complex, skeptical market. View the article from Strategy and Business
2011.01.31	CEFEX partners with Benchmark Financial Services CEFEX announces a partnership with Benchmark Financial Services of Ocean Ridge, FL and that Edward Siedle, the firm's founder, has joined the CEFEX Advisory Council. Edward is a leading consultant on investment management, and is well-known for his expert opinions and research. View the News Release from CEFEX
2010.11.01	CEFEX assessment enhanced with 408(b)(2) verification CEFEX has enhanced its Investment Advisor certification program to match the requirements of the interim final regulation under ERISA Section 408(b)(2). The revision was provided by the law firm Reish & Reicher of Los Angeles, CA. A separate legal review was conducted by the law firm Thorp Reed & Armstrong, of Pittsburgh, PA to add a more detailed analysis of a firms adherence to ERISA Section 3(38). View the News Release
2010.06.01	Insurance Overview The North American Professional Liability Insurance Association (NAPLIA) overview of applicable coverage for firms within the investment industry. Marketing advantages are described, along with the discount for CEFEX-certified firms. View white paper
2010.05.01	ASPPA Certification Program profiled CEFEX's program for the certification of recordkeepers and administrators is profiled in the spring edition of the ASPPA Journal. View the article
2010.03.23	ASPPA Recordkeeper Program Overview Q&A from the Feb, 2010 issue of 401(k) Advisor, which describes the overall CEFEX program with an emphasis on the ASPPA Recordkeeper certification. Click to view
2010.01.14	Experts Added to ASPPA Recordkeeper Program ASPPA announces the addition of Chris L. Stroud and Richard N. Carpenter to support CEFEX's ASPPA Recordkeeper certification program. View the News Release from ASPPA
2009.10.02	CEFEX ASPPA Recordkeeper program expanded The American Society of Pension Professionals & Actuaries (ASPPA) announces the addition of Laura S. Moskwa to the CEFEX Registration Committee, and the addition of 3 Analyst firms qualified to perform the ASPPA Recordkeeper assessments for certification. View the News Release from ASPPA
2009.09.10	Picking Up the Pieces The mutual fund scandals of 2003 may be fading from memory, but fresh developments in other segments of the financial market have opened old wounds. How does the fund industry regain public trust? Read this article in Boomer magazine which includes a description of how CEFEX serves as a tool for investors. View the article in Boomer Magazine
2009.07.25	Confidence Games After so many high-profile scandals, how can managers maintain clients’ trust? CEFEX General Manager Carlos Panksep is quoted on how the CEFEX certification program provides verification of adherence to a fiduciary standard. The article appeared in the July-August edition of CFA Magazine. (The article may only be viewed by CFA members, magazine subscribers, or by purchasing access to the article.) View the article in CFA Magazine
2009.06.10	CEFEX celebrates 3 years! June 2009 marks 3 years since the CEFEX certification program was first introduced. CEFEX certification is recognized as a representation of the highest standard of operation for fiduciary organizations and firms that support fiduciaries. CEFEX acknowledges the 63 firms who have achieved this distinction to date. View the News Release
2009.04.28	Do we Really Need to Clip the Hedge? An article by Roger Levy, LLM, AIFA, CEFEX Analyst distributed at the Institutional Investor Alpha Hedge Conference in San Fransisco on April 27, 2009. Roger suggests that existing fiduciary standards and certification should be leveraged to increase trust in the hedge fund industry, thereby reducing the need for new regulation. View the article
2009.03.31	Towards an Accountable Capitalism A Global Corporate Governance Forum article co-authored by Jon Lukomnik, offers suggestions on how to address the global credit crisis. Included is a reference to the CEFEX certification program as a non-governmental initiative which increases market vigilance. View the article
2009.01.27	New CEFEX Registration Program CEFEX certifies Securian Retirement: the first registration in a new certification program for Service Providers. View the news release
2009.01.16	The Role of CEFEX in Today's Retirement Plan System Carlos Panksep and Blaine Aikin describe how the CEFEX certification program serves retirement plan participants. View the article
2009.01.16	Pension Risk Management: Derivatives, Fiduciary Duty and Process A survey of 162 executives on why and how Plan Sponsors employ derivative instruments, by Dr. Susan Mangiero in conjunction with the Society of Actuaries. View the survey
2009.01.16	Update on Service Provider Disclosure Under 408(b)(2) The January 12, 2009 newsletter from Reish Luftman Reicher & Cohen describes the continued relevance of the requirements tabled by the DOL, particularily as best practices amongst fiduciaries and service providers. View the newsletter
2008.08.20	Why CEFEX Certification is Critical to the Industry The Zero Alpha Group highlights emerging trends that will help clear up investor confusion, mistrust about definition of fiduciaries, investment advisors. View the News Release
2008.06.25	CEFEX News Release CEFEX enhances its Investment Advisor certification program to render a legal opinion on adherence to ERISA. View the News Release
2008.06.15	A Warning Light for Fiduciaries Blaine Aikin, CEO of fi360 summarizes how to mitigate fiduciary risk in his column for Investment News magazine. View the article
2008.03.01	Fortifying fiduciary practices, oversight Jack Gardner, managing director of Thornburg Investment Management Inc. writes about the changing fiduciary landscape, referring to fi360 training and CEFEX certification. View the article at pionline.com
2008.03.01	Are you certifiable? Glenn Kautt, CEO of The Monitor Group, writes about the importance of fi360's Fiduciary Practices and CEFEX Certification, as regulators turn up the heat on the planning industry. View the article at financial-planning.com
2008.03.01	Plan sponsors are avoiding a safe harbor Blaine Aikin, CEO of fi360 explains that by shunning plan reviews, sponsors are making themselves vulnerable to litigation. View the article at investmentnews.com
2008.03.01	How You Are Paying What You Don’t Know: A Primer on Indirect Mutual Fund Payments Fred Reish provides a detailed description of how indirect payments within mutual fund investments can be identified. Invaluable information for pending fee disclosure requirements. View the article
2008.01.16	C. Frederick Reish Joins CEFEX Advisory Council Fred Reish is well-known throughout the retirement industry as a leading visionary on legal and regulatory matters. View the News Release
2008.01.16	EI of an ERISA Fiduciary Wayne H. Miller, CEO of Denali Fiduciary Management and a CEFEX Technical Expert, provides a thought-provoking article on the theory of "Emotional Intelligence" and how it applies to fiduciaries. View the article
2007.10.24	CEFEX and ASPPA introduce Recordkeeper Certification This program is based on a Standard of Practice developed by an industry task force led by CEFEX and ASPPA. The Standard, modelled after the Prudent Practice series of Fiduciary 360, describes the practices required of a Recordkeeper to serve a Steward (Plan Sponsor) in conjunction with Advisors or Managers, in fulfilling their fiduciary obligations. View the News Release
2007.10.17	CEFEX and fi360 comment on CFA Institute Code CEFEX and Fiduciary360 provide comments to the CFA Institute's recently drafted "Code of Conduct for Members of a Pension Scheme Governing Body". View the submission
2007.10.11	Leadership Council Formed to Promote Fiduciary Excellence The Investment Fiduciary Leadership Council ("IFLC") is comprised of firms that have earned CEFEX certifications, and will work together to promote fiduciary excellence within the corporate, public pension and university endowment communities. View this article
2007.09.20	Are Pension Funds Hazardous to Your Health? Article by Dr. Susan Mangiero, which appeared in the Aug '07 "Mann on the Street" publication. A description of how fiduciary issues may impact more than just the acknowleged fiduciaries to a pension plan. View a PDF of this article
2007.05.16	Helping Fee-Only Advisors Follow PPA Provisions for ‘Fiduciary Adviser’ Standard Leading Financial Service Organizations To Help Fee-Only Advisors Follow PPA Provisions for ‘Fiduciary Adviser’ Standard View a PDF of this article
2007.04.26	CEFEX Announces New Certification New Certification for Fiduciary Advisers and Eligible Investment Advice Arrangements View a PDF of this article
2007.04.12	Call for independent certification Alex Fowler, CEO of Strategic Asset Management, the recipient of the first CEFEX Certification in New Zealand, talks about the benefits of Certification in this financialalert magazine article. View a PDF of this article
2007.04.02	The Implications of Vacating the Broker-Dealer Exemption Fiduciary 360,Pittsburgh--A federal appeals court has struck down the Securities and Exchange Commission’s broker-dealer exemption, stating that the SEC lacked the authority to grant brokers broad exceptions to rules that apply to investment advisors. View this article
2007.01.30	Response to Department of Labour Responses to 4 questions regarding fee disclosure as requested by the US Department of Labour Employee Benefits Security Administration in relation to the 2006 Pension Protection Act. Submitted by CEFEX and 7 industry experts. View the submission
2007.01.22	CEFEX Advertisement Advertisement appearing in the January 22, 2007 issue of Pensions & Investments. View

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