Savant Certified for Fiduciary Excellence for 12 Consecutive Years
Savant Capital Management, a nationally-recognized fee-only wealth management firm headquartered in Rockford, IL, with locations in Chicago, Downers Grove, Freeport, Hoffman Estates, Naperville, Peoria, St. Charles, Sterling, and Wilmette, IL; Santa Fe, NM; Madison and Park Falls, WI; and McLean, VA, announced today that CEFEX, the Centre for Fiduciary Excellence, LLC, has renewed the firm’s certification to the standard described in the handbook “Prudent Practices for Investment Advisors.” This is the twelfth consecutive year of certification for Savant, and it was among the first Investment Advisors to successfully complete the independent certification process.
The CEFEX 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.
Savant has become certified in the following areas through CEFEX:
- Investment Steward: A person or organization which has the legal responsibility for managing investment decisions (trustees and investment committee members). View certificate here.
- Investment Advisor: A professional who is responsible for managing comprehensive and continuous investment decisions (including wealth managers, financial advisors, trust officers, financial consultants, investment consultants, and financial planners). View certificate here.
- ASPPA Administration Services: A Retirement Plan Service Provider’s conformity to all Practices and criteria within the ASPPA Standard of Practice. It implies that the firm can demonstrate adherence to the industry’s best practices and is positioned to serve fiduciaries such as Investment Advisors, Investment Managers and Investment Stewards (e.g. Plan Sponsors). View certificate here.
“Savant proudly adheres to a standard representing the best practices in our industry and always putting our clients first,” said Brent Brodeski, CEO of Savant. “Having a prestigious organization such as CEFEX certify our firm’s services further validates our ongoing commitment to living our mission of empowering individuals, families, and institutions to achieve their life and financial goals.”
“Maintaining certification requires a continued adherence to the industry’s best practices. This is verified through our annual renewal assessment,” added Carlos Panksep, Managing Director of the Centre of Fiduciary Excellence.
Savant is certified for investment advisory services, including the role of 3(38) investment manager and non-discretionary 3(21) investment advisor for Employee Retirement Income Security Act (ERISA) plans, 403(b)/church exempt, personal trusts, and high net worth individuals. Savant is registered at cefex.org/advisor, where the firm’s certificate can also be viewed.
The standard is substantiated by legislation, case law, and regulatory opinion letters from the ERISA, the Investment Advisor’s Act of 1940, 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.