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View More Press Releases by CEFEX

Press release:

Investment Advisor Is Certified for Fiduciary Excellence

Issued by: CEFEX

Date: Dec. 3, 2019

 

PITTSBURGH, DECEMBER 3, 2019 – CEFEX, the Centre for Fiduciary Excellence, LLC, an Fi360® company, has certified investment fiduciary practices of The Beacon Group – LPL Financial of King of Prussia, PA as adhering to the standard described in the handbook “Prudent Practices® for Investment Advisors”. The advisors of The Beacon Group join a select group of Investment Advisors to successfully complete the independent certification process.   

According to the Vice President of the Centre for Fiduciary Excellence, Carlos Panksep, “Through CEFEX’s independent assessment, the certification provides assurance to retirement plans, that Beacon Financial Services has demonstrated adherence to the industry’s fiduciary best practices. This indicates the firm’s interests are aligned with those of investors.” 

“We continually strive to provide our clients with the highest level of service possible, and earning this highly regarded CEFEX certification further demonstrates our passion for fiduciary excellence. We take pride in holding ourselves, as advisors, to the highest standard for our clients because we want our clients to know that they are in good hands” said Brian Menickella, Managing Partner and Co-Founder of The Beacon Group. This 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. 

The advisors of The Beacon Group serve as 3(21) Advisors and 3(38) Investment Managers to defined contribution plans within the LPL Financial Retirement Plan Consulting Program (RPCP). The Beacon Group – LPL Financial 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), the Investment Advisers Act of 1940, the Uniform Prudent Investor Act (UPIA), the Uniform Prudent Management of Institutional Funds Act (UPMIFA) and the Uniform Management of Public Employee Retirement Systems Act (UMPERSA) 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 Beacon’s on-line CEFEX certificate.  More information about Beacon Financial Services and the Beacon Group of Companies – LPL Financial is available at www.thebeacongrp.com. 

View More Press Releases by CEFEX


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