Under section 3(38) of ERISA, the plan sponsor may shift the liability for the investments in the plan to a qualified third party. We manage the entire investment process and menu offering which provides the plan sponsor the strongest transfer of liability available in the Qualified Plan arena.
Why IRON for Investment Fiduciary Services?
- ERISA Section 3(38) Fiduciary retirement plan advisor
- CFA lead and CEFEX Certified
- Investment philosophy and processes that serve the Fiduciary interests of qualified retirement Plan Sponsors
- Investment Policy Statement that reflects Plan Sponsor objectives and the interests of Participants
- Detailed quarterly fiduciary reporting at a plan level
- Independence; no conflicts of interest
- No usage of investment products that are proprietary or in which the Advisor has an interest
- Transparency of services, fees and value of client services
CEFEX, the Centre for Fiduciary Excellence, LLC, has certified IRON Financial, LLC, to the standard described in the handbook “Prudent Practices for Investment Advisors”. IRON Financial is among the first Investment Advisors globally to successfully complete the independent certification process. IRON has been certified for Discretionary Investment and ERISA 3(38) Investment Advisory Services for ERISA Defined Contribution and Defined Benefit Plans.
CEFEX is an independent global assessment and certification organization. It works closely with investment fiduciaries and industry experts to provide comprehensive assessment programs to improve risk management for institutional and retail investors. CEFEX certification helps determine the trustworthiness of investment fiduciaries.
As a certifying organization, CEFEX provides an independent recognition of a firm’s conformity to a defined Standard of Practice. It implies that a firm 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.
The standard describes how an Investment Advisor assumes the responsibility for managing a client’s overall investment management process, which includes the selection, monitoring and de-selection of investment managers, as well as developing processes to implement investment strategies and fiduciary practices on an ongoing basis. The standard is substantiated by legislation, case law and regulatory opinion letters from the Employee Retirement Income Security Act (ERISA), Uniform Prudent Investor Act (UPIA), Uniform Prudent Management of Institutional Funds Act (UPMIFA) and the Uniform Management of Public Employee Retirement Systems Act (MPERS) in the U.S. A full copy of the standard is available from the Centre for Fiduciary Studies at http://www.fi360.com/main/practices_sa.jsp and a summary can be viewed by clicking on Iron Financial’s on-line CEFEX certificate.
CEFEX, CENTRE FOR FIDUCIARY EXCELLENCE
The Centre for Fiduciary Excellence (CEFEX) has conducted a fiduciary assessment of IRON Financial, LLC. (the "Advisor") to determine whether Advisor’s practices in providing investment advice to clients conform generally to the fiduciary standards of excellence (referred to as the Fiduciary Practices) as defined by the Prudent Practices for Investment Advisors (U.S. Edition) handbook as published by Fiduciary360 (fi360) (the Handbook).1 Compliance with applicable legal and ethical practices in providing investment advice to clients is the responsibility of the Advisor. The responsibility of CEFEX is to express an opinion on whether the Advisor generally conforms to the Fiduciary Practices in the conduct of its business based on our assessment. CEFEX conducted its assessment in accordance with the Consultant’s Assessment of Fiduciary Excellence for Investment Advisors (U.S. Edition) (the CAFÉ) prepared by fi360.
The Handbook describing fiduciary best practices for investment advisors is available at www.fi360.com.