Deep Dive: Reviewing the Prudent Practices® for Investment Advisors

Broadridge

The purpose of this course is to review and provide updates on the Prudent Practices for Investment Advisors. The Prudent Practices provide the framework for a discipline investment process supported by laws, regulations, case law and best practices.

This course will cover the steps, practices and criteria that are organized under our four-step Fiduciary Quality Management System.

• Step 1: Organizing the client engagement by understanding laws, governing documents and fiduciary obligations.
• Step 2: Formalizing the client investment strategy or plan by creating the asset allocation strategy and supporting development of an investment policy statement.
• Step 3: Implementing the investment strategy or plan by conducting due diligence on investments, service providers and available safe harbors.
• Step 4: Monitoring the portfolio, plan or fund through periodic reviews to ensure client objectives and constraints are being met.

About the Prudent Practices

Originally developed in 2002, the Practices were created to define a global standard for fiduciary excellence. The legally substantiated handbook details a process advisors can reference to make informed and consistent investment decisions. There have been four major reviews and updates made to ensure the Practices continue to reflect the latest expectations of fiduciary responsibility.

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