TERRE HAUTE, IN, January 28, 2014 – CEFEX, the Centre for Fiduciary Excellence, LLC, has certified Wabash Capital to the standard described in the handbook “Prudent Practices for Investment Advisors”. Wabash Capital joins the elite group of Investment Advisors to successfully complete the independent certification process.
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 Don Edwards, President of Wabash Capital, “Our clients now have independent verification that we have implemented best fiduciary practices within our firm. This is especially important to our retirement plan clients subject to ERISA and Department of Labor rules and regulations, as well as our foundation and endowment clients subject to various state laws.”
Wabash Capital has been certified for investment advisory and management services to endowments, foundations and retirement plan clients serving in an ERISA 3(21) advisory role and/or an ERISA 3(38) investment manager role. The annual certification process involves a detailed assessment of operational data and procedures, followed by on-site interviews with key personnel. Clients and prospects may view Wabash Capital’s registration certificate at www.cefex.org.
The standard is substantiated by legislation, case law and regulatory opinion letters from the Employee Retirement Income Security Act (ERISA), the Investment Advisor’s Act of 1940, 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 Wabash Capital’s on-line CEFEX certificate. More information about Wabash Capital is available at www.wabashcapital.com.
