July 23, 2024 7:23 AM
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Program provider for associations gains certification

ASAE Business Services’ Industry Partner, Capital Advisory Group (CapGroup), has recently been certified by CEFEX, the Centre for Fiduciary Excellence, LLC, a global assessment and certification organization providing comprehensive assessment programs to improve risk management for institutional and retail investors.

CapGroup was found to be in conformance with the Fiduciary Practices for Investment Advisors, as defined in the Global Fiduciary Standard of Excellence, which is the model for benchmarking investment stewardship and fiduciary conduct. CapGroup is among the early adopters of this standard for its advisory services and is one of only 38 investment advisors globally to successfully complete the independent certification process.

“Through CEFEX’s independent assessment, the certification provides assurance to investors, both institutional and individual, that CapGroup has demonstrated adherence to the industry’s best fiduciary practices,” said Carlos Panksep, general manager of the Centre for Fiduciary Excellence. “This indicates that CapGroup’s interests are aligned with those of investors.”

“By earning this certification, CapGroup further emphasized the organization’s commitment to the prudent management of investment assets, which resonates with association executives and investment committees who have a responsibility for the management of their organization’s investment portfolios,” said Dixie Arthur, president of ASAE Business Services, Inc.

“We have been encouraging our clients to use the Standard’s best practices since they were introduced in 2006, so earning the certification for our firm was a necessary step to indicate our willingness to ‘walk the walk’ in living up to a high standard of fiduciary conduct,” said Richard Smith, CapGroup president. 

The Fiduciary Investor Program, offered through ASAE Business Services, focuses on several fundamental concerns that associations share, such as maintaining adequate cash flow, assuring compliance with legal standards of fiduciary prudence, managing investment risk, improving the consistency of investment performance and containing investment-related costs.

Additional information about the Fiduciary Investor Program can be found online at www.asaecenter.org/Investments, with more about the CEFEX certification at www.cefex.org.

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