While the fate of the highly publicized DOL Fiduciary Rule is still unclear, the overwhelming majority of financial services firms are moving forward with their plans to transition to a fiduciary model. To assist firms with this transition and train financial advisers on new roles and responsibilities, CFM Partners has added a new Fiduciary Awareness and Education Program to its comprehensive suite of forward-looking governance, risk, and compliance (GRC) management solutions.

Developed with input from several of the industry’s most successful firms, the Fiduciary Awareness Program is an innovative and flexible solution designed to meet the industry's immediate and ongoing training needs as business models and regulatory requirements evolve. The Program focuses less on the Rule itself, and more on providing professionals with a solid foundation in best practices and the standards that apply when providing investment advice in a fiduciary capacity.

Core Curriculum

Fiduciary Awareness
This course provides financial advisors and sales professionals with an awareness of potential regulatory and industry changes related to investment advice and the fiduciary standard.

Investment Advice and the Fiduciary Standard
This course provides financial advisors with
an understanding of the fiduciary standard
as it applies to investment advice and the fiduciary obligations of advisers when acting in
a fiduciary capacity.

Ongoing Curriculum

The ongoing curriculum is designed to provide financial advisors with the knowledge and competency required to meet fiduciary obligations and provide advice consistent with the best interest and prudent person standards. Along with courses addressing specific fiduciary roles, responsibilities, and best practices, the curriculum includes an extensive library of wealth management and advisory courses designed to provide advisors with in-depth knowledge of investment products, planning and portfolio management techniques, and advisory best practices. Examples of courses available as part of the ongoing curriculum include:

  • IRA Rollovers
  • Liquid Alternatives
  • Non-Traded REITs
  • Separately Managed Accounts
  • Understanding Private Equity
  • Portfolio Monitoring and Review
  • Portfolio Risk Measurement and Management
  • Introduction to Retirement Planning

Program Features

Role-Specific Training – Specific fiduciary roles and responsibilities can have different implications for advisers who serve different client bases and offer different products and services to clients. For this reason, the Program is designed to address these differences and includes courses designed to meet role and business model-specific training needs on an ongoing basis.
Initial Fiduciary Awareness Training
Designed to help fims meet immediate training needs and provide advisers with an understanding of the regulatory environment and fiduciary concepts required to respond effectively to client questions and prepare for the transition to a fiduciary role.

Ongoing Fiduciary Education
For advisers transitioning to a fiduciary role, the Program includes in-depth and ongoing training on fiduciary obligations and best practices.

Investment Product and Planning Training
Ongoing product and planning training designed to provide advisers with knowledge essential to meeting fiduciary obligations under the best interest and prudent person standards.

Tailored Content
Courses can be tailored to incorporate firm-specific business models, policies, procedures, and processes into the Program’s content and organization. This ensures that training is highly relevant and as comprehensive as possible.
The Fiduciary Awareness and Education Program includes CFM Partners’ exclusive Compliance Content Distribution and Tracking features that allow administrators to ensure the right people see the right information at the right time, using Push-by-Profile distribution and customized audience assignments. Tracking allows managers to track policy usage, course completion, and acknowledgment of alerts and attestations.

The Fiduciary Awareness and Education Program resides in the cloud, where it is accessible on demand and is maintained, updated, and supported by CFM’s team of experts.