Working with an AIF®

Simply put, the term fiduciary applies to more Graduate School of Business, was established in than five million individuals who have the legal 1999 to provide the investment industry with the responsibility for managing someone else’s first full-time training and research facility money. A fiduciary is required by law to always focused exclusively on investment fiduciary act in the best interests of his or her client, responsibility and portfolio management. beneficiary, or retirement plan participant. Yet, many fiduciaries are not even aware of their Designees have passed a comprehensive duties and responsibilities. examination on the 27 Prudent Investment Practices that formed the basis of their training. Accredited Investment Fiduciary® (AIF) Designees are also required to strictly adhere to designees have been provided with the tools and continuing professional education requirements, training to help them acquire a thorough which aids them in staying abreast of the recent knowledge of fiduciary responsibility and can be events in the industry that are affecting every an invaluable resource to investment fiduciaries fiduciary. and individual investors alike.

Prudent Investment Process Don’t risk going at it alone. AIF® designees have the expertise to help ensure that an investment The 27 practices that designees follow have been management process is managed to an derived from interpretations of legislation, case appropriate fiduciary standard of care. law, and regulatory opinion letters that govern the fiduciary. Prudent Investment Practices, the Training published handbook that describes these practices, was co-produced by the Center and AIF® designees have successfully completed a the American Institute of Certified Public specialized program on investment fiduciary Accountants (AICPA). Each of the 27 practices standards of care at the Center of Fiduciary also makes good investment sense, and using the Studies. The Center, in association with the process they define should help improve long- University of Pittsburgh Joseph M. Katz term investment performance.