Fiduciary excellence

Richardson Wealth is the first wealth management company in Canada to gain certification from the Centre for Fiduciary Excellence (CEFEX). The certification applies to our Separately Managed and Portfolio Management Account platforms.

From our firm’s beginnings, we have always taken seriously our role as fiduciaries and dedicated ourselves to operating in our clients’ best interests. Proudly, the achievement of fiduciary excellence regarding our Separately Managed and Portfolio Management Account platforms has been independently verified for several years with 2020 marking the eighth consecutive year of certification. 

This commitment to hold our firm to a higher standard is best explained by Richardson Wealth's President and CEO:

“By standing up and saying that we’re willing to be held to a higher standard, we are demonstrating that we are leaders in the business of wealth management. We take our professional accountability very seriously. In these times, when clients are having difficulty knowing what and whom to trust, they can feel confident that at Richardson Wealth, trust is synonymous with the work that we do.”

Why is it so important?

This tells you that we aim to achieve the highest level of integrity, transparency and best practices when it comes to managing your wealth.

We voluntarily open ourselves — annually — to a rigorous, independent third-party  Centre for Fiduciary Excellence (CEFEX) assessment process to audit our practices. They in turn, work closely with investment fiduciaries and industry experts to provide comprehensive assessment programs to improve risk management for institutional and retail investors. 

Centre for fiduciary excellence

This esteemed annual certification program ensures that our Portfolio Management Account platform, for those Advisors who have been delegated control over investment decisions for their clients, conforms to the global fiduciary standards of excellence.

To earn the certification, we must demonstrate adherence to seven fiduciary precepts — under the scrutiny of specialist fiduciary auditors. This extensive process involves a detailed evaluation of operational data and procedures — and on-site interviews with key members of the team.  

The seven precepts that comprise best practice fiduciary standards

  1. Know standards, laws and trust provisions
  2. Diversify assets to the specific risk/return profile of the client
  3. Prepare an Investment Policy Statement
  4. Use “prudent experts” and document due diligence
  5. Monitor the activities of the “prudent experts”
  6. Control and account for investment expenses
  7. Avoid conflicts of interest and prohibited transactions

It is important to us to inform our clients and the industry that we are committed to setting standards and best practices for Richardson Wealth, while at the same time provide our clients with a truly responsible strategic partner and fiduciary.

Read about Richardson Wealth’s Principles.