Step 1 of the Fiduciary Process: Organizing the Client Engagement

Rich Lynch, AIFA®, Director, Fi360

Bennett Aikin, AIF®, VP, Designations, Fi360

May 16, 2019

Acting as a fiduciary in the role of a professional service provider requires being organized. You and all other parties associated with the account need to be aware of your responsibilities, have complete documentation of your relationships, identify and address conflicts of interest, and ensure that assets have sufficient protections from theft and embezzlement. These steps, taken at the outset of the engagement, ensure that the relationship has a strong foundation upon which to build a successful investment program that is in the best interests of the investors and beneficiaries.

This session is an overview of the first step in a prudent investment process and a discussion on what advisors and other service providers need to consider when acting in a fiduciary capacity. It is appropriate as both an introduction to fiduciary responsibility for those who are inexperienced with acting as a fiduciary and as a refresher for experienced advisors who have fiduciary training and a track record of supporting fiduciary clients.

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