Greetings!

CEFEX is pleased to announce a pilot program to integrate the Veriphy® Analytics Plan Scorecards™ and PlanView™ Reports in its certification assessments.

These innovative, patented reports, from Atlanta-based business intelligence company Veriphy® Analytics, indicate how well an advisor follows a fiduciary process including the impact of his/her decisions on investment performance. The Veriphy Score™ is like a FICO™ Score for a 401(k) or 403(b) plan.  

Veriphy® Analytics tools help CEFEX Analysts assess adherence to 16 of the 26 practices described in the standard: ‘Prudent Practices for Investment Advisors’, published by Fi360 and referenced in the CEFEX certification assessment.  The CEFEX assessment continues to reference reports from the Fi360 Fiduciary Toolkit and the RiXtrema 401k Fiduciary Optimizer. 

Veriphy’s tools were developed by two CEFEX Analysts who have held the Accredited Investment Fiduciary Analyst (AIFA™) for more than a decade.  Their experience is embedded into a set of patent-pending methodologies, algorithms and artificial intelligence to evaluate retirement plans and their advisors. 

CEFEX certification demonstrates that advisors use the industry’s best practices. The Veriphy® reports add practical evidence to the CEFEX assessment using innovative algorithms which provide additional perspectives on the advisor’s processes.

“It is an honor to have CEFEX Analysts using Veriphy tools in their certification process.  The CEFEX Certification process is the gold standard in evaluating fiduciary excellence,” states Al Otto, Veriphy’s CEO.  “It is our goal to bring a new standard of excellence to measuring and monitoring retirement plan outcomes and the CEFEX process is a perfect setting to implement this new business intelligence.”
As always, I welcome questions and I expect feedback from CEFEX certified advisors when these reports are worked into the assessment sampling process, as appropriate.

Best regards,
Carlos Panksep

Managing Director, CEFEX
416-693-9733