Prudent Practices®
Everything we do as a company is rooted in our Prudent Practices®. Officially published in 2003, the Prudent Practices comprise a step-by-step process that ensures a fiduciary investment strategy is properly developed, implemented and monitored according to both legal and ethical obligations.
Each practice has been substantiated by applicable legislation, regulation and/or case law to ensure compliance. Full citations, as well as detailed criteria, narrative discussion, practical application and suggested procedures can be found in the Prudent Practices® handbooks.
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.
Check out What We Do to learn all the ways we enable fiduciaries to implement a prudent process!
Advisors can leverage our online Advisor SAFE15 tool to quickly and easily assess adherence to the fiduciary standard of care for investment advisors.
