ST. PAUL, Minn.--(BUSINESS WIRE)--The Centre for Fiduciary Excellence awarded Securian Retirement the CEFEX certification for fiduciary due diligence regarding investment management. This is the third consecutive year Securian has earned the certification.
The CEFEX certification means that benefits advisors, consultants, brokers, and their clients can feel confident that the investment options available within Securian Retirement’s plans are carefully selected and closely monitored for performance, consistency, and appropriateness. Securian’s retirement plans are offered through a group variable annuity contract issued by Minnesota Life Insurance Company.
The Securian due diligence process is led by an in-house committee of four CFAs who also hold the Accredited Investment Fiduciary designation.
“The CEFEX certification is especially important in the markets we serve,” said Bruce Shay, executive vice president, Securian Financial Group, Inc. “Some employers do not have HR and legal experts on staff to monitor plan performance. CEFEX certification means that Securian’s investment option management process meets the industry’s highest standards.”
CEFEX is an independent, global assessment and certification organization providing comprehensive assessments as measures of risk and trustworthiness of investment fiduciaries. A CEFEX assessment includes reviews of an organization’s practices by an independent Accredited Investment Fiduciary Analyst (AIFA). The assessment is documented by the AIFA and subject to review by the CEFEX Registration Committee comprised of independent fiduciary experts.
A CEFEX Registration is an independent recognition of a Service Provider’s conformity to all Service Provider Practices and associated criteria. It demonstrates that a Service Provider demonstrates adherence to the industry’s best practices, and is positioned to earn its clients trust.
Securian’s Registration Type is “Service Provider – Investment Consulting.” The Scope of the Registration is “Fiduciary acknowledgement for conducting due diligence on, and analyzing performance of, investment managers.” “Service Provider Practices” means the Practices published by either CEFEX, 360 or the American Society of Pension Professionals and Actuaries (ASPPA). Learn more about CEFEX at www.cefex.org.
Since 1880, Securian Financial Group and its affiliates have provided financial security for individuals and businesses in the form of insurance, investments and retirement plans. Now one of the nation’s largest financial services providers, it is the holding company parent of a group of companies that include Minnesota Life Insurance Company.
DOFU – 01-18-2011
A00248-0111