By Daily Journal
TUPELO – Investment advisory firm Hardy Reed recently was certified by CEFEX, the Centre for Fiduciary Excellence.
The first firm to be certified in Mississippi, Hardy Reed met the standard described in the handbook “Prudent Practices for Investment Advisors.”
Hardy Reed also was among the first investment advisers globally to successfully complete the independent certification process according to CEFEX.
“In the financial services industry it is important to distinguish between those that sell products and those that are held to a higher fiduciary standard,” said Scott Reed, CEO of Hardy Reed. “It is important for clients of Hardy Reed that the Center for Fiduciary Excellence, through a rigorous process, has determined that our investment process meets CEFEX’s globally recognized standard of care.
“Even though we have clients all over the United States, it is especially satisfying to know that we are the first investment firm based in Mississippi to achieve this certification.
We are very proud of what this means for our clients and our firm.”
The standard describes how an investment adviser 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.
“Through CEFEX’s independent assessment, the certification provides assurance to investors, both institutional and individual, that Hardy Reed has demonstrated adherence to the industry’s best fiduciary practices,” said Carlos Panksep, CEFEX general manager. “This indicates that Hardy Reed’s interests are aligned with those of investors.”
Hardy Reed serves ERISA defined benefit and defined contribution plans, 403(b) plans, nonqualified plans, foundations, personal trusts and high net-worth families.
The annual certification process involves a detailed assessment of operational data and procedures, followed by on-site interviews with key personnel.
Hardy Reed is registered at www.cefex.org, where its certificate can also be viewed.