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Viewing posts in the Spotlight on Practices category.
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.
Posted by on December 18, 2013 in Spotlight on PracticesFor 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'...
Posted by Bennett Aikin on November 21, 2013 in Spotlight on PracticesThe 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...
Posted by Anna Hancq on September 25, 2013 in Spotlight on PracticesBeginning 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...