National Financial Partners Corp. today agreed to a strategic relationship with the Centre for Fiduciary Excellence.
The agreement provides NFPC’s broker-dealer and investment advisor group with access to resources and tools to become a CEFEX certified investment fiduciary.
The alliance is the first of its kind between Toronto-based CEFEX and an independent broker-dealer, CEFEX company officials said.
CEFEX is an independent organization that assesses the trustworthiness of investment fiduciaries. Advisory firms certified by CEFEX are deemed an acknowledged fiduciary to clients, including the administration of retirement plans, according to CEFEX.
"We recognize the value proposition for advisors that choose to act as a fiduciary, particularly given the growing industry demand for more holistic financial guidance,” James Poer, president of New York-based NFP Advisor Services Group, said in a statement.
Carlos Panksep, general manager of CEFEX, said in a statement that “through our independent assessment, the certification provides assurance to clients that participating advisors are demonstrating adherence to the industry's best fiduciary practices."
NFPC provides advisory and brokerage services to companies and high net worth individuals, partnering with them to preserve their assets and prosper over the long term.