GMP Private Client L.P. has been certified for fiduciary excellence in the Investment Manager category by CEFEX, Centre for Fiduciary Excellence, LLC.

GMP Private Client is the first investment dealer in Canada and among the first globally, to successfully complete the independent certification process, which was first offered in the United States in 2006.

Fiduciary practices address an organization’s fiduciary governance and its investment systems from research and portfolio construction to trade execution. The annual certification process involves financial performance and operational data verification, followed by on-site interviews with key personnel.

The CEFEX certification helps provide stewards of retirement plans, endowments, foundations and personal trusts additional proof of their investment firm’s integrity.

“As the first firm in Canada to be recognized for its outstanding fiduciary practices, investors can be assured that GMP Private Client’s trust is warranted and that we’ve been independently certified for practicing fiduciary excellence,” says James Werry, CEO of GMP Private Client.

“GMP Private Client has implemented all fiduciary practices for investment managers with a particular strength in external oversight of portfolio management and staff training,” says Christine Denton, the CEFEX analyst who led the assessment.

The Fiduciary Practices are principle-driven and represent the industry’s best practices according to the CFA Institute’s Asset Manager Code of Professional Conduct, EFAMA’s (the European Fund and Asset Management Association) Code of Conduct for the European Investment Management Industry, and the Risk Standards Working Group’s Risk Standards for all Institutional Investment Managers and Institutional Investors. They are described in the publication “Prudent Practices for Investment Managers”, written by CEFEX and Fiduciary360, of Sewickley, Penn.