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RPG Consultants Receives CEFEX Certification | |
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July 05, 2012 RPG Consultants announces its certification as a CEFEX-Certified Recordkeeper and Third Party Administrator (TPA). RPG is one of the few national organizations to have successfully met the criteria necessary to achieve this industry-leading standard. CEFEX, Centre for Fiduciary Excellence, LLC, has certified RPG Consultants of Valley Stream, NY as adhering to the American Society of Pension Professionals & Actuaries (ASPPA) Standard of Practice for Retirement Plan Service Providers. RPG Consultants (RPG) is among the first firms in the United States, to successfully complete the independent certification process for recordkeepers. The ASPPA Standard of Practice describes how a recordkeeper 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. RPG provides full-service recordkeeping and 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 RPG has demonstrated adherence to the best practices in the recordkeeping 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. RPG 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. For information on RPG please go to: www.rpgny.com. About CEFEX: 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. Source: http://www.1888pressrelease.com/rpg-consultants-receives-cefex-certification-pr-407609.html |
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