PITTSBURGH, January 15, 2016 – CEFEX, Centre for Fiduciary Excellence, LLC, has certified Niles Lankford Group of Plymouth, IN as adhering to the American Society of Pension Professionals & Actuaries (ASPPA) Standard of Practice for Retirement Plan Service Providers. Niles Lankford Group (NLG) joins an elite group of firms, by successfully completing the independent certification process for service providers.
The ASPPA Standard of Practice describes how a service provider of any size or type can help plan sponsors fulfill their fiduciary obligations. CEFEX uses 2 classifications: 1) in-house recordkeeping services and 2) administration services (i.e. third party administration). The Standard includes best practices for governance, organization, human resources, operations, planning, systems, and disclosure, as defined by a cross-industry task force established in 2007. The Standard is modeled after the “Prudent Practices for Investment Stewards” published by fi360 Inc. of Pittsburgh, PA.
Niles Lankford Group provides third party administration services. According to the Managing Director of the Centre for Fiduciary Excellence, Carlos Panksep, “The CEFEX certification provides assurance to fiduciaries and their stakeholders that NLG has demonstrated adherence to the best practices in the TPA industry. The successful completion of the independent assessment is an extraordinary indication of a firm’s accountability to its clients.”
The annual certification process involves a detailed assessment of operational data and procedures, followed by on-site interviews with key personnel. Niles Lankford Group is registered at http://www.cefex.org/registeredCompanies.aspx where its certificate can also be viewed. A summary of the Standard can be viewed by clicking on the certificate.
For information on the certification program and CEFEX please go to www.cefex.org, where a full copy of the Standard of Practice is available.
For information about ASPPA, please go to www.asppa.org.
The Centre for Fiduciary Excellence, LLC, 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 has offices in Pittsburgh, PA and Toronto, Canada.
fi360’s mission is to help institutions and advisors gather, grow, and protect assets through better investment and business decision-making. fi360’s capabilities include professional development, software applications, and research and practice management. fi360 is the home of the AIF® designation and the fi360 Toolkit®, and is the parent company of Ann Schleck & Co., CEFEX, and IPS AdvisorPro. For more information about fi360, please visit www.fi360.com.
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