Retirement Plan Services Group of Elliott Davis Investment Advisors among First Globally to be Certified for Fiduciary Excellence
September 28, 2011
GREENVILLE, SC – September 28, 2011 – The Retirement Plan Services Group (RPSG) of Elliott Davis Investment Advisors is pleased to announce that it has been certified by the Centre for Fiduciary Excellence (CEFEX), LLC to the standard described in the handbook “Prudent Practices for Investment Advisors.”
The RPSG of Elliott Davis Investment Advisors is among the first investment advisory firms globally to successfully complete this independent certification process, which focuses on how an investment advisor assumes the responsibility for managing a client’s overall investment management process, including the selection, monitoring and de-selection of investment managers, as well as developing processes to implement investment strategies and fiduciary practices on an ongoing basis.
According to the General Manager of the Centre for Fiduciary Excellence, Carlos Panksep, “Through CEFEX’s independent assessment, the certification provides assurance to investors, both institutional and individual, that the RPSG of Elliott Davis Investment Advisors has demonstrated adherence to the industry’s best fiduciary practices. This indicates that the group’s interests are aligned with those of investors.”
The scope of certification addresses the Employee Retirement Income Security Act (ERISA) plan investment selection and monitoring process for the ERISA plans under advisement by the RPSG led by Ken Vilcheck, AIF®. The annual certification process involves a detailed assessment of operational data and procedures, followed by on-site interviews with key personnel. Elliott Davis Investment Advisors’ RPSG is registered at http://www.cefex.org, where its certificate can also be viewed.
The standard is substantiated by legislation, case law and regulatory opinion letters from ERISA, Uniform Prudent Investor Act (UPIA), Uniform Prudent Management of Institutional Funds Act (UPMIFA) and the Uniform Management of Public Employee Retirement Systems Act (MPERS) in the U.S.
About the Retirement Plan Services Group of Elliott Davis Investment Advisors
The Retirement Plan Services Group (RPSG) of Elliott Davis Investment Advisors provides financial services to our clients as independent, objective investment advisors. The group assists employee benefit plan fiduciaries and sponsors through a defined process that includes: development of investment policy; selection and review of investment options; updates on new regulations and potential legislation, as well as new features available to the plan; disclosure, evaluation, and documentation of all provider fees; and maintenance of due diligence files. For more information, visit http://www.ediadvisors.com.
About CEFEX
CEFEX, Centre for Fiduciary Excellence, LLC is an independent certification organization. CEFEX works closely with industry experts to provide comprehensive assessment programs to improve the fiduciary practices of investment stewards, advisors, recordkeepers, administrators and managers. CEFEX has offices in Toronto, Canada, and Pittsburgh, P.A.
