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Prudent Investment Process

Who is a Fiduciary

Fi360 defines an investment fiduciary as someone who is providing investment advice or managing the assets of another person and stands in a special relationship of trust, confidence, and/or legal responsibility.

Investment fiduciaries can be divided generally into three groups: Investment Stewards, Investment Advisors, and Investment Managers.

An Investment Steward is a person who has the legal responsibility for managing investment decisions, including plan sponsors, trustees, and investment committee members.

An Investment Advisor is a professional who is responsible for providing investment advice and/or managing investment decisions.  Investment Advisors include wealth managers, financial advisors, trust officers, financial consultants, investment consultants, financial planners, and fiduciary advisers.

An Investment Manager is a professional who has discretion to select specific securities for separate accounts, mutual and exchange-traded funds, commingled trusts, and unit trusts.

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