Language of Nonprofits
The Accredited Investment Fiduciary Analyst® (AIFA®) designation is awarded by Fi360® to qualified candidates who meet designated fiduciary education and experience requirements, including successful completion of master’s level coursework and a written comprehensive examination. Once awarded, the designee must complete a minimum of 10 hours continuing education annually. An AIFA® designee may perform fiduciary assessments on internal policies, procedures and workflows to verify or certify an entity’s conformity to the Global Fiduciary Standard of Excellence.
CEFEX, Centre for Fiduciary Excellence, LLC, an Fi360® company, 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 is based in Pittsburgh, PA. Connect to CEFEX at www.CEFEX.org or via Twitter or LinkedIn.
A fiduciary education, training and technology company, Fi360® helps financial intermediaries use prudent fiduciary practices to profitably gather, grow and protect investors’ assets. Since 1999, the firm has provided financial professionals with the tools necessary to act as a fiduciary in their work with investors. Headquartered in Pittsburgh, PA, Fi360® is the home of the Accredited Investment Fiduciary® (AIF®) designation, the Fiduciary Focus Toolkit™ and the Fi360® Fiduciary Score®. Fi360® is also the parent company of CEFEX. Learn more at www.Fi360.com via Twitter or on LinkedIn
Global Fiduciary Standard of Excellence
The Global Fiduciary Standard of Excellence is the benchmark of fiduciary conduct and investment stewardship incorporating 21 Prudent Practices based on legal principles and best practices. It was originally developed in 2000 by the Centre for Fiduciary Studies, and most recently updated in 2018 by the Centre’s parent, Fiduciary 360, Fi360®. The Prudent Practices and supporting criteria are consistent with the International Organization for Standardization (ISO) Quality Management Standard. They are outlined in a four-step fiduciary quality management system that emphasizes a continually improving decision-making process:
Step 1: Organize
Step 2: Formalize
Step 3: Implement
Step 4: Monitor
Nonprofit Leaders are the officers and decision-makers responsible for their respective charitable, sovereign or governmental organizations. Typical positions include:
- Chair and/or President of the Board of Directors
- Board Members
- Chief Executive Officer
- Executive Staff Members
- Investment Committee Members
- Any person who is the “Nonprofit’s Face to the Public”
21 Prudent Practices for Investment Stewards
This publication is part of a series of fiduciary handbooks published by Fi360® to define Global Standards of Fiduciary Excellence. The handbooks are designed to be reference guides for knowledgeable investment professionals and investors who serve in a fiduciary capacity, also known as “investment fiduciaries.”
This handbook was developed specifically for investment stewards – trustees, investment committee members, attorneys, accountants, institutional investors, and anyone else who is involved in overseeing investment decision-making. The fiduciary practices described in this handbook are intended to address many of the legal and ethical requirements applicable to investment stewards. In addition to these requirements, an investment steward must become familiar, and comply, with all other laws and regulations applicable to the steward’s particular field of practice in individual countries.
Kate McBride has been a leader in the fiduciary world for more than a decade. We’ve worked together on fiduciary policy, research, and advocacy. Her expertise in practical application of prudent investment practices and decades of investment experience give her a unique understanding of how best to counsel fiduciary trustees, boards, and leaders to protect their organization’s assets.
Kate McBride’s Fiduciary Leadership Training and Expert Assessments have been a game changer for our organization’s Board of Trustees and staff. Her savvy communications and accredited fiduciary excellence has increased our team’s focus, consistent application of best practices, and helped to grow our assets by 20% in one year. Our donor-clients satisfaction has never been higher! We strongly recommend Kate McBride of Fiduciary Path.
Kate McBride has helped us verify the Best Fiduciary Practices we have integrated throughout our investment portfolios and employee retirement plans. Her expertise has helped us to improve our investment processes further, in a comprehensive cycle to protect the best interest of our tribal members and our community.
Where are the Lay Fiduciaries Who Have Control and Responsibility for More Than $26 Trillion of US Investment Assets?
Allan Henriques, Kathleen McBride, David J. Bromelkamp, Trevor Merrill, and Tony A. Michael Finding the Elusive Lay Fiduciary No one knows exactly how many Lay Fiduciaries exist, even though they’re legally responsible for prudently managing trillions of...
For Nonprofits, there are three. By Kathleen McBride, AIF™, AIFA®, CEFEX Analyst® Now that we’ve surprised some nonprofit leaders who may not have realized that they are Lay Fiduciaries™, (please see “Are you a Fiduciary?”) let’s talk about other types of...
The answer may surprise you. By Kathleen McBride, AIF™, AIFA®, CEFEX Analyst® We get a lot of questions about who is or isn’t a Lay Fiduciary™. A Lay Fiduciary, in the nonprofit sense, is someone who is not an investment professional, but is a decision-maker...