Investment Fiduciary & Consulting

We take pride in managing our client’s wealth as a fiduciary

Who is an “Investment Fiduciary” Under The Law?

An investment fiduciary is someone who manages the assets of another person and stands in a special relationship of trust, confidence, and legal responsibility.

As an investment fiduciary, we provide businesses, nonprofit organizations, including state & local governments with a number of investment advisory and fiduciary consulting services:

1.Asset allocation and liability studies
2.Writing and implementation of Investment policies that outlines the principles, practices and procedures of fiduciary responsibility of Plan Sponsors, Investment Managers and Financial Advisors
3.Performance monitory and reporting
4.Retirement plan enrollment meetings and employee educational seminars
5.Comprehensive financial planning for employees
6.Investment consulting due diligence and selection private market Money Managers
7.Economic and Market Research and Education
8.Independent fiduciary and ERISA investment management services

Investment Fiduciary

Investment Fiduciary

What Makes An AIFA® Designee Different From Other Advisors?

An Accredited Investment Fiduciary Analyst (AIFA®) practitioner provides the accurate assessment of an investment fiduciary organization to determine if their practice conforms to a Global Fiduciary Standard of Excellence; and whether the organization has satisfied the Forty Six Practices Practice requirements for receiving the Center for Fiduciary Excellence (CEFEX) Certification.

While all financial advisors have fiduciary responsibility, only those who have earned the AIFA®Designation are formally recognized by the Center for Fiduciary Studies for demonstrating a full understanding of how to implement the practices and processes to help clients with investment fiduciary & consulting needs, fulfill their fiduciary obligations.

AIFA® Designees are able to use the knowledge and resources to:

  • Evaluate your organization’s current fiduciary practices and recommend actions that address risk areas and help ensure compliance with applicable state and federal statutes and regulations.
  • Create and maintain a comprehensive investment policy statement that documents all of the processes and procedures that will be used to manage your portfolio.
  • Analyze and optimize your portfolio’s asset allocation strategy to better align with the plan or fund’s specific investment objective or the demographic needs of plan participants.
  • Apply objective standards for evaluating and recommending appropriate investment options for your portfolio.
  • Monitor and report performance of your portfolio and its underlying investments on an ongoing basis and recommending changes, when necessary.
    Serve as a resource for education and assistance to help you understand and fulfill your fiduciary obligations with greater confidence.

Fiduciary Assessments

  • Selection of service providers
  • Investment committee roles and responsibilities
  • Governance processes
  • Investment evaluation and selection processes
  • Investment fees and service costs
  • Performance review protocols
  • Documentation of investment processes and decisions
  • Risk management processes
  • Compliance with regulatory requirements
  • Conflict of interest policies

Fiduciary Practices For Investment Stewards

Through Our Investment Advisory and Fiduciary Consulting Services, We Define, Outline and Implement the Prudent Practices for a Global Fiduciary Standard of Excellence
At Wealthcare Financial Group, Inc. we adhere to a Global Fiduciary Standard of Excellence for improving an Investment Steward’s decision-making process. The excellence is established by twenty-two Prudent Practices (“Practices”) which provide the framework of a disciplined investment process. The Practices are further supported by Criteria, which represent the details of the Global Fiduciary Standard of Excellence.

Our Four-Step Fiduciary Quality Management System

The steps are consistent with the global ISO 9000 Quality Management System standard, which emphasizes continual improvement to a decision-making process:

Organize

During the organize stage, the investment fiduciary identifies laws, governing documents, and other sources of guidance for fiduciary conduct.

Implement

The implement stage is when investment and service provider due diligence is performed and decisions about investment safe harbors are made.

Monitor

During the monitoring stage, the investment fiduciary engages in periodic reviews to ensure that the investment objectives and constraints are being met and that the Prudent Practices are consistently applied.

PERIODIC TABLE OF GLOBAL FIDUCIARY PRACTICES FOR INVESTMENT STEWARDS

View our Periodic Table for Investment Stewards

FOUR ESSENTIAL COMPONENTS OF A STANDARD OF EXCELLENCE

Investment Fiduciary

Each Practice is backed by legal substantiation based on statutes, case law, regulations and regulatory guidance. The major statutes and supporting law that are covered by the substantiation include:

ERISA

The Employee Retirement Income Security Act of 1974, a federal law that impacts fiduciary responsibilities related to qualified retirement plans. Requirements under ERISA for qualified retirement plans are administered by the Department of Labor’s Employee Benefits Security Administration, which issues regulations and regulatory guidance that further governs fiduciary obligations.

IAA

The Investment Advisers Act of 1940, a federal securities law that governs the regulation of investment advisers and their fiduciary responsibilities. The IAA is administered by the Securities and Exchange Commission (SEC), which issues regulations and regulatory guidance affecting investment advisers and their fiduciary responsibilities. State statutes similar to the IAA are typically administered by individual state securities commissioners.

The following three laws are uniform acts developed and proposed by the National Conference of Commissioners on Uniform State Laws (NCCUSL) for states to consider for adoption. To identify whether a state has adopted the model act, please visit NCCUSL’s website (uniformlaws.org).
If a particular state is not identified as having adopted the model act, then the Advisor should seek guidance from qualified legal counsel on the fiduciary standard of care that is applicable to that particular state, and whether any of the fiduciary practices covered in this handbook are not applicable.

UPIA

Uniform Prudent Investor Act, a widelyadopted state law that covers fiduciary responsibilities related to private trusts. The UPIA was released in 1994 and subsequently endorsed by the American Bar Association and American Bankers Association. More than 40 states and the District of Columbia generally have adopted the model law, although differences may exist from state to state. The UPIA serves as a default standard for investment activities of private trusts.

Typically, the provisions of a private trust prevail. However, if a trust document is silent regarding a particular fiduciary duty, such as the duty to diversify, then — according to the terms of the Act — the provisions of the UPIA apply.

UPMIFA

Uniform Prudent Management of Institutional Funds Act, a state law that impacts foundations, endowments, and government sponsored charitable organizations. UPMIFA was released in July 2006 and has been adopted by most states and the District of Columbia.

UMPERSA

Uniform Management of Public Employee Retirement Systems Act, a model state law that impacts state, county, and municipal retirement plans. UMPERSA was released in 1997 and may apply to state, county, and municipal retirement plans. At the date of publication, Maryland and Wyoming are the only states that have formally adopted the act.

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