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Viewing posts in the Spotlight on Practices 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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The Importance of Using Prudent Practices in Today’s Lawsuit-filled Environment

Posted by Carlos Panksep on October 27, 2016 in Spotlight on Practices

Litigation risk is rising for retirement plan fiduciaries. A few large law firms have become particularly adept at finding flaws in the fiduciary practices of plan sponsors and their financial service providers.

The Importance of Using Prudent Practices in Today’s Lawsuit-filled Environment

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Q&A on the DOL's Fiduciary Rule: BICE & PTEs

Posted by Duane Thompson on May 10, 2016 in Fiduciary Excellence Fiduciary Q&A In the News Regulatory Update Spotlight on Practices

A few weeks ago, we presented webinars covering the DOL’s recently released fiduciary rule. A recording of that webinar is now available. During that webinar we received over 80 questions. We were not able to answer all of those during the one hour session, but we have compiled and answered them here. The questions are categorized, and we will do separate blog posts to address all of the questions within a given category. These questions are not comprehensive of the rule, they only address the questions that were submitted. Think of them as an addendum to the webinar. For...

Q&A on the DOL's Fiduciary Rule: BICE & PTEs

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Practice 1.3: Roles & Responsibilities of all Involved Parties are Defined & Documented

Posted by on December 18, 2013 in Spotlight on Practices

For any type of portfolio, it is essential that the various parties involved in the investment process are working in coordination with each other and have a clear understanding of where their individual roles and responsibilities begin and end. Unfortunately, it is too often the case that parties are either unaware of the full extent of their responsibilities or have misunderstandings about the responsibilities of others. For this reason, the third Practice in a prudent investment process is to ensure each party involved is identified, their role is defined and documented, and they have acknowledged their role in writing. Let'...

Practice 1.3: Roles & Responsibilities of all Involved Parties are Defined & Documented

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Practice 1.2: Follow governing documents

Posted by Bennett Aikin on November 21, 2013 in Spotlight on Practices

The second Prudent Practice is about the importance of following governing documents. Governing documents set the context and provide direction for how fiduciaries and service providers are to carry out their obligations. Most significantly on the investment side, the investment policy statement is a governing document providing direction for the management of investment decisions. Fiduciaries must follow the governing documents unless doing so would create a conflict with the governing laws and regulations. Let's take a look at the Practice and the corresponding criteria: The starting point for the investment advisor in fulfilling this Practice...

Practice 1.2: Follow governing documents

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The Prudent Practices Update: Revisiting the Spotlight on the Practices Series

Posted by Anna Hancq on September 25, 2013 in Spotlight on Practices

Beginning in 2009, we started a series here on the blog called Spotlight on the Practices, in which we went through each of the Prudent Practices, dived a little deeper into the purpose of the Practices, how it can be applied, and additional resources that might help you implement them. You can find those blog posts by clicking the Spotlight on Practices category in the right-hand column. Now that the Practices have been updated, we want to revisit these posts. Our goal will be to both highlight the changes and continue to strengthen the understanding of the Practices, the Criteria, as...

The Prudent Practices Update:  Revisiting the Spotlight on the Practices Series

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