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CEFEX Standards

The Center for Fiduciary Excellence (CEFEX) is an independent assessment and certification organization with a mission to promote fiduciary best practices in the investment management Industry.

CEFEX certification attests that a fiduciary can demonstrate adherence to the industry’s best practices, and is positioned to earn the public’s trust. This registration serves investors who require assurance that their investments are being managed according to commonly accepted best practices. CEFEX certification verifies that your advisor is working for you!

How Firms Gain CEFEX Certification

The CEFEX Fiduciary Assessment is an independent risk-based assessment of an organization's ability to meet investors' expectations. Using quantitative and qualitative criteria, it measures adherence to generally accepted fiduciary practices.

Savant has become certified in the following areas through CEFEX:

Investment Stewards - A person or organization which has the legal responsibility for managing investment decisions (trustees and investment committee members).

Investment Advisors - A professional who is responsible for managing comprehensive and continuous investment decisions (including wealth managers, financial advisors, trust officers, financial consultants, investment consultants, and financial planners).

Plan Administrator under ERISA 3(16)A Recordkeeper or Administrator’s conformity to all Practices and criteria within the ASPPA Standard of Practice. It implies that the firm can demonstrate adherence to the industry's best practices, and is positioned to serve fiduciaries such as Investment Advisors, Investment Managers and Investment Stewards (eg. Plan Sponsors).

The Fiduciary Certification is performed by a qualified CEFEX Analyst, and reviewed by the CEFEX Registration Committee to ensure complete impartiality. The process uses the ISO 19011 audit standard, an internationally recognized standard for testing process management systems.

Certification includes analysis of structural risk at the organization level. This includes a review of business management from board level down to middle and back office support, including sales and marketing, compliance and risk management, information technology, business continuity planning, and overall resource allocation.

Additionally, the certification process analyzes the investment risk of asset management. This is a flow-through review of the investment process from research to trade execution, including portfolio construction and holdings, strategic and tactical asset allocation, and performance attribution.

A successful certification process, as decided by the CEFEX Registration Committee, results in:

Learn more with FI-360 (Foundation for Fiduciary Studies)