Release date: August 30, 2018
PITTSBURGH, AUGUST 30, 2018 – The Centre for Fiduciary Excellence (CEFEX), an Fi360® company, announced today that it has certified the investment fiduciary practices of BPCC Foundation, Inc. of Bossier City, LA as adhering to a global standard of excellence for Investment Stewards. BPCC Foundation, Inc. (BPCC) is among the first organizations in the world to successfully complete the independent CEFEX certification process. It is the first organization in the state of Louisiana to receive the CEFEX certification.
The CEFEX standard of excellence for Investment Stewards is based on 21 fiduciary practices that seek to increase long-term investment performance by diversifying the portfolio across multiple asset classes and peer groups, evaluating investment management fees and expenses, and selecting or terminating investment managers. The practices also help uncover investment and/or procedural risk, which may assist in prioritizing investment management projects.
CEFEX Managing Director Carlos Panksep said: “Through CEFEX’s independent assessment, the certification provides assurance to donors and stakeholders that BPCC Foundation, Inc. has demonstrated adherence to the industry’s best fiduciary practices.”
The fiduciary practices are based on the Fi360 Inc. publication: Prudent Practices for Investment Stewards and are substantiated by legislation, case law and regulatory opinion letters from the Employee Retirement Income Security Act (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. A summary of the fiduciary practices can be viewed by clicking on the BPCC’s on-line CEFEX certificate, available at www.cefex.org.
The annual certification process involves a detailed review of documents, investments and procedures followed by on-site interviews with key personnel. A full copy of the standard is available at www.fi360.com. More information on BPCC Foundation, Inc. is available at: www.bpccfoundation.org.
CEFEX, Centre for Fiduciary Excellence, LLC, an Fi360® company, 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 is based in Pittsburgh, PA. Connect to CEFEX at www.CEFEX.org, via Twitter @CEFEX1 and on LinkedIn @CEFEX.
Fi360, a fiduciary education, training and technology company, helps financial intermediaries use prudent fiduciary practices to profitably gather, grow and protect investors’ assets. Since 1999, the firm has provided financial professionals with the tools necessary to act as a fiduciary in their work with investors. Headquartered in Pittsburgh, PA, Fi360 is the home of the Accredited Investment Fiduciary® (AIF®) designation, the Fiduciary Focus Toolkit™ and the Fi360 Fiduciary Score®. Fi360 is also the parent company of CEFEX. Learn more at www.fi360.com via Twitter or on LinkedIn