Recordkeepers & TPAs

This certification is an independent recognition of a Recordkeeper or Administrator’s conformity to all Practices and criteria within the CEFEX Service Provider Standard of Practice. It implies that the firm can demonstrate adherence to the industry's best practices, and is positioned to serve fiduciaries such as Investment Advisors, Investment Managers and Investment Stewards (eg. Plan Sponsors). The program defines the following classifications of firms:

Recordkeeping Services
Bookkeeping for retirement plans’ trading transactions and individuals’ accounts (the major activity in recordkeeping).

Administration Services
Administrative functions including compliance testing against relevant pension and tax laws and filing of government reports such as Form 5500.

CEFEX Service Provider Standard of Practice
The Standard of Practice was originally developed by a cross-industry Task Force chaired by the American Society of Pension Professionals & Actuaries (ASPPA). We acknowledge that Recordkeepers and Administrators are not fiduciaries themselves, however they provide services to fiduciaries and their plan participants. These Service Providers help fiduciaries meet their fiduciary obligations. The Practices form the basis for the certification program and are organized in a similar way to the Fiduciary Practices described by Fi360 and CEFEX for Investment Managers, Investment Advisors and Investment Stewards.

Please click here to download the CEFEX Service Provider Standard of Practice.

CEFEX welcomes comments and suggestions.
Please contact cefexadmin@broadridge.com.

Insurance Discount for Certified Firms
CEFEX-certified Recordkeepers and TPAs are eligible to receive discounts on professional liability insurance premiums of up to 25%. The certification acts as evidence that your firm is a lower risk for insurance carriers.

See Program Summary from Lockton Affinity