Rea, an Ohio-based business advisory and accounting firm is honored to announce the renewal of their certification from the Centre for Fiduciary Excellence (CEFEX), a division of Broadridge Fi360 Solutions (Broadridge). This certification is only granted by Broadridge to firms that demonstrate adherence to the American Society of Pension Professionals & Actuaries (ASPPA) Standard of Practice for Retirement Plan Service Providers. It is a hallmark accomplishment for Rea as it signifies conformity to a recognized standard of excellence.
The ASPPA Standard of Practice describes how a service provider of any size or type can help Plan Sponsors fulfill their fiduciary obligations. CEFEX uses 2 classifications: 1. In-house recordkeeping services, and 2. Administration services (i.e. third-party administration). The Standard includes best practices for governance, organization, human resources, operations, planning, systems, and disclosure, as defined by a cross-industry task force established in 2007. The Standard is modeled after the “Prudent Practices for Investment Stewards” published by Fi360, Inc. of Pittsburgh, Pa.
“Broadridge is pleased to renew Rea within the elite group of service providers who have demonstrated adherence to a standard of practice for retirement plan administrators, supporting fiduciaries,” said Carlos Panksep, VP, CEFEX. “They have earned the right to use the CEFEX Mark which indicates the firm’s established practices are aligned with those of investment advisors and are worthy of trust and confidence.”
Steve Renner, director of retirement plan services at Rea said, “Our CEFEX certification is a testament to the dedication of our Retirement Plan Consulting team. Our team takes great pride in being responsive and providing exceptional client service. I am extremely proud of our outstanding team for receiving this certification consistently since 2018.”
Rea is certified for Third Party Administration Services (TPA). Rea’s certification is registered and can be viewed at www.fi360.com/cefex.
The annual certification process involves a detailed assessment of operational data and procedures, followed by on-site interviews with key personnel. A full copy of the standard can be downloaded from Broadridge at www.fi360.com/cefex and a summary can be viewed by clicking on Rea’s online CEFEX certificate.
