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Viewing posts in the Putting Process into Practice category.


Are annual investment reviews enough?

Posted by Dave Palascak, AIF®, CFA on August 17, 2017 in Putting Process into Practice Spotlight on Practices

Errors of omission within the fiduciary process (not doing what is prudent or prescribed) are more common than errors of commission (doing something that is prohibited by law, regulation, or governing documents). Establishing and following clear, concise and practical policies and procedures for monitoring reduce compliance risks and help ensure that clients’ best interests are served.

Are annual investment reviews enough?

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How to Manage Your Company’s Security Policy

Posted by Wes Stillman on October 13, 2016 in Putting Process into Practice

Editor’s Note: Today’s blog post is a guest post from Wes Stillman, who is CEO and founder of RightSize Solutions.  Wes also recently guest presented a webinar titled Cybersecurity: What Advisors Need to Know about Protecting Data. A recording of the webinar can be accessed here. *   *   *   *   * The biggest stumbling block for registered investment advisors when it comes to guarding against cybersecurity breaches is not technology-based, it’s a people problem. The right technology is critical, but RIA leaders face a bigger challenge in fostering a cybersecurity-sensitive...

How to Manage Your Company’s Security Policy

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When does a client become a client?

Posted by Norman M. Boone, CFP® on May 14, 2015 in Fiduciary Basics Putting Process into Practice

Congratulations.  You have a new client.  Or, at least that new prospect has agreed to become a client. But when do they actually cross that threshold that makes them a “formal” client that anyone looking from the outside would agree that they are now your client? In my firm, Mosaic Financial Partners, four things need to happen before we consider someone an investment client of our firm, all of which happen roughly concurrently: They sign our Letter of Engagement (our contract).  This sets out all of the legal aspects of our new relationship, including our...

When does a client become a client?

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Expanding the IPS to the rest of your financial and personal life

Posted by Norman M. Boone, MBA, CFP® on April 06, 2015 in Fiduciary Basics Putting Process into Practice

For most of us, life happens in one of two ways: A) it happens to us; we don’t control it and often times the life experiences we have are largely accidental results of where we are, who we are with, and events around us.  B) Life happens as we intend; we are purposeful about the things we want in our lives and we do what we can to influence life’s events, so that what we wanted ends up happening. My wife and I travel frequently.  It’s one of the shared joys in...

Expanding the IPS to the rest of your financial and personal life

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Seven qualitative factors for evaluating investments

Posted by Mike Limbacher on February 11, 2015 in Fiduciary Excellence Fund Analysis Putting Process into Practice

Due diligence is the heart and soul of investment selection. A good due diligence process objectively whittles down the universe of available funds to just those that meet your high standards for inclusion in an investment portfolio. Investment due diligence typically begins on the quantitative side by evaluating funds against set benchmarks and in relation to peers.  The fi360 Fiduciary Score®, for example, is calculated using nine quantitative factors that we consider to be the minimum due diligence criteria that you should use when evaluating an investment.  But in addition to quantitative analysis,...

Seven qualitative factors for evaluating investments

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How does one demonstrate that a service provider arrangement is reasonable?

Posted by Rich Lynch on December 04, 2013 in Putting Process into Practice

>>>> Next week, fi360 is hosting a webinar on 408(b)(2), reasonable service arrangements, and benchmarking. In this post, fi360 President Rich Lynch takes a look at how CEFEX is helping plan sponsors assess their service provider arrangements and the criteria they are using to determine reasonableness using a benchmarking process. It’s been almost 18 months since the 408(b)(2) regulation became effective and service providers became required to provide enhanced disclosures to their plan sponsor clients.  It’s probably safe to assume that most if not all service providers are now delivering the required...

How does one demonstrate that a service provider arrangement is reasonable?

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Fiduciary Links: Plan Sponsor Considerations in Changes in Retirement Plan Income Options

Posted by Kathy Stewart on October 14, 2013 in Fiduciary Links In the News Putting Process into Practice

>>>Plan participant risk can be quantifiable or behavioral, each having separate characteristics but both vital to understand.  A recent report, published by the Society of Actuaries (SOA) and the Stanford Center on Longevity, notes that while quantifiable risks such as outliving retirement savings, market declines, inflation, and fees and expenses pose serious challenges, behavioral risk, including poor understanding, judgment, and decision-making, can be just as problematic.  See “The Next Evolution in Defined Contribution Retirement Plans – A Guide for DC Plan Sponsors To Implementing Retirement Income Programs.”  The report analyzes information on...

Fiduciary Links: Plan Sponsor Considerations in Changes in Retirement Plan Income Options

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Good Insurance Decisions Require Appropriate Information

Posted by Brian Fechtel on June 26, 2013 in In the News Putting Process into Practice

This week we have a guest post from Brian Fechtel, CFA, founder of BreadwinnersInsurance.com. He was one of the contributing authors to the NAIC’s White Paper on the State of Life Insurance Industry, having written a section advocating the importance of drastically improved policy disclosures. Last September the Journal of Financial Planning published his article, “Bringing Real Clarity and Understanding of Cash-Value Life Insurance to the Marketplace.” The comments below very briefly summarize for fi360’s fiduciaries some of the practical implications of Fechtel’s ideas. >>>...

Good Insurance Decisions Require Appropriate Information

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Financial Planners as Fiduciaries

Posted by Kathy Stewart on May 08, 2013 in Fiduciary Excellence Putting Process into Practice

>>>>We know that investors often assume that their financial advisor is a fiduciary.  That might be accurate or not depending on the circumstances.  Trying to simplify the explanations is perhaps a bit cumbersome.  Those who offer financial planning services, in situations unrelated to ERISA’s realm, like other financial advisors, may or may not have a fiduciary duty to their clients depending on the specifics of the engagement.  Financial planners, much like other functional fiduciaries, are deemed to have fiduciary responsibility when their activities fall under the definitions found in applicable...

Financial Planners as Fiduciaries

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