Across Pennsylvania and the other states, more than 5 million citizens have a legal responsibility to manage other people’s money. This is referred to as a fiduciary responsibility. The Center for Fiduciary Studies is paving the way in setting an industry standard for fiduciaries.
Industry standards are a must
Securities law can be violated on many different levels. Fiduciary negligence is one of the most common violations that courts see, so better training is in order for those possessing fiduciary responsibility. The Center for Fiduciary Studies now offers two different fiduciary designations that people can obtain. These include Accredited Investment Fiduciary Analyst, or AIFA, and Accredited Investment Fiduciary, or AIF. To obtain both of these titles, you’ll need to study and complete an exam.
The first of the two designations is offered in both a web-based and classroom training format. It introduces students to 22 different prudent investment practices alongside the topic of fiduciary standards. Those holding this designation are held to a standard of excellence that others without this designation are not.
If you’re looking for a second designation after your AIF designation, you may want to consider taking the AIFA program. This is a three-day course that expands on the topics of AIF. Apart from the prudent practices that you learned in the AIF program, the AIFA program allows you to evaluate fiduciary compliance with the practices discussed. Those who obtain both an AIF and AIFA designation can show that they are holding themselves at the highest standard of excellence in their fiduciary duties.
People throughout the country are investing their hard-earned money with fiduciaries. Unfortunately, not all of these professionals are presenting a high standard of fiduciary responsibility. Fortunately, the Center for Fiduciary Studies has released two new fiduciary designation programs that reinforce a high standard of care for clients.