|TONY ORNATEK AND CHRISTOPHER WHITNEY EARN ACCREDITED INVESTMENT FIDUCIARY DESIGNATION FROM THE CENTER FOR FIDUCIARY STUDIES
Scarborough, Maine October 4, 2012 -- Tony Ornatek and Christopher Whitney of Actuarial Designs & Solutions, Inc. (ADS) have been awarded the Accredited Investment Fiduciary® (AIF®) Designation from the Center for Fiduciary Studies™ (the Center), the standards-setting body for fi360. The AIF Designation signifies specialized knowledge of fiduciary responsibility and the ability to implement policies and procedures that meet a defined standard of care. The Designation is the culmination of a rigorous training program, which includes a comprehensive, closed-book final examination under the supervision of a proctor, and agreement to abide by the Code of Ethics. On an ongoing basis, Designees are required to complete continuing education to maintain the AIF Designation.
Ornatek and Whitney, both residents of Cape Elizabeth, Maine are executives at ADS in Scarborough. Ornatek, Principal and Executive Vice President, is an actuary specializing in the design and administration of qualified and non-qualified retirement focused plans and ESOPs. Whitney, Vice President and Director of Marketing, specializes in 401(k) plan design and sales.
Ornatek is quoted as saying, “The liability arising from lax Fiduciary Standards of Care is widely recognized as a serious problem for today’s retirement plans. Our (ADS’) ability to assess the stewardship of retirement plan investments and compliance issues is undoubtedly a valuable service to plan sponsors throughout northern New England.”
Fi360, based near Pittsburgh, Pa., is the first full-time training and research facility for fiduciaries, and conducts training programs at universities throughout the United States and abroad. The Center for Fiduciary Studies confers the AIF Designation as well as the Accredited Investment Fiduciary Analyst™ (AIFA®) Designation. AIFA Designees are the only recognized professionals trained to perform fiduciary assessments, which measure how well investment professionals are fulfilling the fiduciary duties required of them by the applicable investment legislation, case law, and regulatory opinion letters.
About Actuarial Designs & Solutions, Inc. (ADS)
ADS is an independent actuarial consulting and retirement plan administration firm based in Scarborough, ME. ADS offers retirement plan consulting, administration and actuarial services to sponsors of Defined Benefit and Defined Contribution Plans, including 401(k) Plans.
1Fi360 offers training, tools and resources to promote a culture of fiduciary responsibility and improve the decision making processes of investment fiduciaries – individuals who manage money for others. Fi360 provides investment education and training programs, and develops sophisticated Web-based tools and reporting include the innovative fi360 Fiduciary Score® and the Family Fund Fiduciary Rankings™ for trustees and investment professionals. The Center for Fiduciary Studies confers the Accredited Investment Fiduciary® (AIF®) and Accredited Investment Fiduciary Analyst™ (AIFA®) professional Designations.