Since 2013, Business Financial Group has attained the CEFEX Investment Advisor Certification (the industry’s highest recognition) each year. The respected Centre for Fiduciary Excellence (CEFEX) issues this certification to advisors who exhibit rigorous adherence to the best fiduciary and investment practices. This top industry certification has been awarded to only 86 fiduciary advisors worldwide, with just 4 being located in Texas.
“The certification can help provide assurance to investors, both institutional and individual, that Business Financial Group has demonstrated adherence to some of the industry’s best fiduciary practices,” said Carlos Panksep, General Manager of the Centre for Fiduciary Excellence. “This indicates that Business Financial Group’s interests are aligned with those of investors.”
The months-long CEFEX evaluation examined the firm’s processes for providing discretionary investment management services to endowments, foundations, corporate clients and ERISA retirement plans, as well as BFG’s procedures for serving as an investment fiduciary. BFG's registration certificate can be viewed by clicking the image to the right.
BFG assists clients in:
- Creating and implementing Investment Policy Statements
- Managing investments according to federal and state laws, trust documents, and written Investment Policy Statements
- Reviewing, selecting, and monitoring money managers, custodians, and other plan service providers
- Ensuring that asset classes and investment vehicles are appropriate for the portfolio size and implementation constraints
- Educating clients, retirement plan trustees, and administrators
- Providing education and investment advice to clients, their employees, and other plan participants
- Analyzing plan fees
- Keeping records of fiduciary meetings and plan activities for audit purposes
Why Does BFG Continue to Hold Independent Fiduciary Certification?
Investors and retirement plan sponsors are best served if their advisors always act in the best interest of the client. In an environment of increasing anxiety and litigation, trust in the asset manager is more important than ever. Stewards of retirement plans, foundations, and trusts are looking for proof of their investment firm's integrity and due diligence process.
Fiduciary Best Practices describe how an investment advisor assumes the responsibility for managing a client's overall investment strategy: deciding on the client's asset allocation, developing the client's investment strategy, implementing the strategy with appropriate investment managers, avoiding conflicts of interest, and monitoring the strategy on an ongoing basis.
The CEFEX certification is an independent recognition that BFG has day-to-day conformity of all Fiduciary Practices and Criteria. It implies that, as a fiduciary, BFG can demonstrate adherence to the industry's best practices and is worthy to receive the public's trust and business.
CEFEX, Centre for Fiduciary Excellence, LLC, is an independent rating and certification organization. CEFEX works closely with the investment community and the fiduciary industry to provide comprehensive assessments that measure risk and trustworthiness of investment fiduciaries and improve the fiduciary practices of investment stewards, advisors, recordkeepers, administrators, and managers worldwide. CEFEX has offices in Toronto, Canada, and Pittsburgh, Pennsylvania.