|PITTSBURGH, NOVEMBER 29, 2018 - The Centre for Fiduciary Excellence (CEFEX), an Fi360® company, announced today that it has certified the investment fiduciary practices of Riptide Software, Inc. of Oviedo, FL as adhering to a global standard of excellence for Investment Stewards. Riptide Software, Inc. (Riptide) is among the first organizations globally to successfully complete the independent CEFEX certification process.
The CEFEX standard of excellence for Investment Stewards is based on 21 fiduciary practices that seek to help participants in a 401K. Companies that are certified as an Investment Steward have shown they are engaged and focused on increasing the value and satisfaction of the participants of their plan.
CEFEX Managing Director Carlos Panksep said: "Through CEFEX's independent assessment, the certification provides assurance to participants and stakeholders that Riptide has demonstrated adherence to the industry's best fiduciary practices."
Phil Loeffel, CEO and Founder of Riptide Software said, "we're excited to show our dedication to our fiduciary responsibilities for our plan and our participants. Obtaining this certification is a key milestone for Riptide that proves we are aligned with participants in supporting their long-term growth and success at Riptide."
The fiduciary practices are based on the Fi360 Inc. publication: Prudent Practices for Investment Stewards and are 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 summary of the fiduciary practices can be viewed by clicking on the Riptide's on-line CEFEX certificate, available at www.cefex.org.
The annual certification process involves a detailed review of documents, investments and procedures followed by on-site interviews with key personnel. A full copy of the standard is available at www.fi360.com. More information on Riptide Software, Inc. is available at: www.riptidesoftware.com.
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, via Twitter @CEFEX1 and on LinkedIn @CEFEX.
Fi360, a fiduciary education, training and technology company, 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(tm) and the Fi360 Fiduciary Score®. Fi360 is also the parent company of CEFEX. Learn more at www.fi360.com via Twitter or on LinkedIn.