PHOENIX (MARCH 15, 2012) – Miller/Russell & Associates, a Phoenix-based registered investment advisor providing wealth management and investment consulting services, has been certified by the Centre for Fiduciary Excellence (CEFEX) to the standard “Prudent Practices for Investment Advisors.” Miller/Russell is among the first investment advisors globally to successfully complete the independent certification process.
The 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.
“This certification provides further assurance to our clients that Miller/Russell continually demonstrates adherence to the industry’s best fiduciary practices,” said Brad Lemon, senior managing partner of Miller/Russell.
Miller/Russell has been certified for its provision of discretionary investment management services for endowments, foundations, corporate clients and ERISA retirement plan clients serving in both a 3(21) and/or 3(38) fiduciary role. The annual certification process involves a detailed assessment of operational data and procedures, followed by on-site interviews with key personnel. Miller/Russell is registered at www.cefex.org, where its certificate can also be viewed.
The standard is substantiated by legislation, case law and regulatory opinion letters from the Employee Retirement Income Security Act (ERISA), 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.
About Miller/Russell & Associates
Miller/Russell is one of the Southwest’s largest wealth management and registered investment advisory firms with offices in Arizona, California, and Nevada. Headquartered in Phoenix, the firm employs 26 professionals and support staff. Miller/Russell has been providing investment and wealth management services to individuals and families, corporate retirement plans, endowments, sovereign nations, and foundations throughout the Western United States since 1991. Additional information about Miller/Russell can be found at www.miller-russell.com.
CEFEX, 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 Toronto, Canada, and Pittsburgh, PA.