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Reading, MA -- CEFEX, the Centre for Fiduciary Excellence, LLC, has certified Sentinel Pension Advisors, Inc. of Reading, MA to the standard described in the handbook “Prudent Practices for Investment Advisors”. Sentinel Pension Advisors, Inc. (Sentinel) joins the elite group of Investment Advisors to successfully complete the independent certification process.
“Being a fiduciary is a serious undertaking,” said John A. Carnevale, JD, AIF, President & CEO of Sentinel Pension Advisors, Inc. “Achieving a CEFEX designation demonstrates that we have practices and procedures in place that equal or exceed the investment fiduciary requirements of the Employment Retirement Income Security Act of 1974 (ERISA).”
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. According to the General Manager of the Centre for Fiduciary Excellence, Carlos Panksep, “Through CEFEX’s independent assessment, the certification provides assurance to investors, both institutional and individual, that Sentinel has demonstrated adherence to the industry’s best fiduciary practices. This indicates that Sentinel’s interests are aligned with those of investors.”
Sentinel has been certified for investment advisory and investment consulting services to plan sponsors, acting as a 3(21) fiduciary together with plan sponsor and/or investment committee, or acting as a 3(38) investment manager. The annual certification process involves a detailed assessment of operational data and procedures, followed by on-site interviews with key personnel. Sentinel is registered at www.cefex.org, where its certificate can also be viewed.
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 can be downloaded from CEFEX at www.cefex.org and a summary can be viewed by clicking on Sentinel’s on-line CEFEX certificate.
CEFEX, Centre for Fiduciary Excellence, LLC is an independent certification organization. CEFEX works closely with industry experts to provide comprehensive assessment programs to improve the fiduciary practices of investment stewards, advisors, recordkeepers, administrators and managers. CEFEX has offices in Pittsburgh, PA and Toronto, Canada.
© 2014 Sentinel Benefits & Financial Group, All Rights Reserved.
Financial planning and investment advice are offered through Sentinel Pension Advisors, Inc., an SEC registered investment advisor in the Commonwealth of Massachusetts.
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Insurance products offered through Sentinel Insurance Agency, Inc. Investment brokerage services offered through Sentinel Securities, Inc. Member FINRA & SIPC.