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PFP Home > Resources > PFP Practice Management > Fiduciary Responsibility

Fiduciary Responsibility

Investment fiduciaries include investment advisors, trustees, and investment committee members—many of whom are either CPAs, or advised by CPAs. This section will discuss the importance of being a fiduciary and what steps need to be taken when you are serving in that capacity.

Investment Fiduciary Responsibility

View a video clip on Investment Fiduciary Reponsibility featuring Clark Blackman, CPA/PFS from the 2008 Advanced PFP Conference.

 

Prudent Practices for Investment Advisors
PFP Section Member

Prudent Practices for Investment Advisors provides a framework for a disciplined investment process specific for investment advisors. Learn More>>
Prudent Practices for Investment Stewards
PFP Section Member
Prudent Practices for Investment Stewards provides investment fiduciaries with an organized process for making informed and consistent decisions. Learn More>>
Legal Memorandums for Prudent Investment Practices
PFP Section Member
Published as a companion to the handbook Prudent Investment Practices: A Handbook for Investment Fiduciaries, this collection of memorandums highlights the legal bases underlying the practices set out in the handbook. The memorandums were prepared by the law firm of Reish, Luftman, McDaniel & Reicher and are helpful in understanding the rationale for each of the practices. Learn More>>
Prudent Investment Handbook Fact Sheet
This document provides you with a bulleted overview of the major features of the Fiduciary Handbook, including the prudent investment practices and the significance for you in your practice. Learn More>>
Role of the CPA in Restoring Investor Confidence
AICPA Member
You can read the highlights of a discussion with Donald Trone, President of the Foundation for Fiduciary Studies, focusing on an overview of the Fiduciary Handbook and its significance both to CPAs and the investment world at large. Learn More>>
A Q&A With Joel Framson: CPA Financial Planners and Their Fiduciary Responsibilities
AICPA Member
Review a discussion with Joel Framson regarding the overall benefits of the Fiduciary Handbook and its significance to CPA financial planners and Personal Financial Specialists. Learn More>>
Clark Blackman Q&A on Fiduciary Handbook From a Small CPA Firm Perspective
AICPA Member
This interview with Clark Blackman shows how the Fiduciary Handbook provides meaningful guidance to small CPA firms. Learn More>>
Fiduciary Responsibilities for CPAs in Industry: A Q&A With Dan Gould
AICPA Member
This discussion with CPA Dan Gould offers an overview of the Fiduciary Handbook and its relevance to members in industry acting as a fiduciary within the organizations they serve. Learn More>>
Fiduciary Responsibility Fact Sheet
AICPA Member
A fiduciary's basic duty is to act solely in the interest of the plan's participants and beneficiaries, and for the exclusive purpose of providing benefits to participants and beneficiaries. With respect to qualified plan assets, a fiduciary must act prudently, diversify the investments of the plan's assets, and act in a manner consistent with the plan's documents. Learn More>>
Fiduciary Responsibility: Message Points for Pension Plans of Nonprofits
A nonprofit board member that has the responsibility to invest money acts as a fiduciary. As a fiduciary, board members are required to know the law. This section contains a checklist to help nonprofit board members understand their investment-related fiduciary responsibilities. Learn More>>
Fiduciary Responsibility: Core Message Points for Pension Plans of Small Businesses
Today, more than 42 million Americans hold assets worth $1.8 trillion dollars in 401(k) plans. Employees are concerned about what companies are doing to protect their retirement assets and ensure that they are safe. According to the Department of Labor, a recent poll indicates that a majority of companies in America don't understand their fiduciary responsibilities related to their 401(k) plans. Learn More>>
Investment Committee Effectiveness Backgrounder
An effective Investment Oversight Committee is the foundation upon which a dependable 401(k) program is built in your organization. Its main purpose is to ensure your plan remains competitive while continually offering a solid array of fund options. The committee does this by participating in the governance of the plan and overseeing investment selection.  Learn More>>
Investment Fiduciary Responsibility: Understanding the Role of Plan Fiduciaries
PFS Credential Holder
Download a copy of a Powerpoint Presentation on fiduciary responsbility which addresses such key questions as: (1) Who is an investment fiduciary and when might you be considered one? (2) If you are considered a fiduciary, what are the minimum standards of care that must be met? and (3) If you advise others in your company, what do you need to know to do the job? Learn More>>