Press Release

CEFEX Certifies DBR Fiduciary Plans Solutions

Issued by CEFEX

Aug. 13, 2020

PITTSBURGH, AUGUST 12, 2020 – CEFEX, the Centre for Fiduciary Excellence, a division of Fi360, has certified DBR Fiduciary Plan Solutions from Pittsburgh, PA to the standard described in the handbook “Prudent Practices® for Investment Advisors”.  DBR Fiduciary Plan Solutions (DBR) 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 the Vice President, Centre for Fiduciary Excellence, Carlos Panksep, “Through CEFEX’s independent assessment, the certification provides assurance to individual and institutional clients, that DBR has demonstrated adherence to the industry’s best fiduciary practices. This indicates the firm’s interests are aligned with retirement plan participants and investors.”

DBR Fiduciary Plan Solutions is certified as a registered investment advisory and fiduciary consulting services for ERISA defined contribution, defined benefit and 403(b) plans as a 3(21) non-discretionary and 3(38) discretionary fee-based advisor. DBR Fiduciary Plan Solutions is registered on this public page, 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 Model Management of Public Employee Retirement Systems Act (MMPERSA) in the U.S. 

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