An investment fiduciary is someone who is managing the assets of another person and therefore stands in a special relationship of trust, confidence, and/or legal responsibility. The Prudent Practices represent a standard of excellence that can be the foundation of the trust placed in them by investors.
Each Practice represents a distinct obligation in the fiduciary standard of care as defined in applicable laws, regulations, case law precedent, and/or best practices. Adopting the Practices into your own investment processes can mitigate compliance risk, improve efficiency and effectiveness, and distinguish your reputation as a fiduciary specialist.
The Practices are also at the heart of fi360's Training, Tools, and Resources. Every product and service we offer is designed to help investment fiduciaries better understand and apply the Prudent Practices.
Investment fiduciaries can generally be categorized into one of three types: Investment Stewards, Investment Advisors, and Investment Managers. fi360 has developed a set of Prudent Practices specific to each type of investment fiduciary and the distinct roles they play in the investment process. You can review the Practices by selecting the links in the Inside This Section box to the right.
IMPORTANT UPDATE: A major revision to the Practices and associated handbooks was released in May 2013. To learn more about the updates, visit the Prudent Practice Update News summary.