ORLANDO, NOVEMBER 27, 2018 – The Centre for Fiduciary Excellence (CEFEX), an Fi360® company, announced that it has certified the investment fiduciary practices of Riptide Software as adhering to a global standard of excellence for Investment Stewards. Riptide Software, Inc. (Riptide) is among the first organizations globally to successfully complete the independent CEFEX certification process.
The CEFEX standard of excellence for Investment Stewards is based on 21 fiduciary practices that seek to help participants in a 401K. Companies that are certified as an Investment Steward have shown they are engaged and focused on increasing the value and satisfaction of the participants of their plan.
CEFEX managing director Carlos Panksep said: “Through CEFEX’s independent assessment, the certification provides assurance to donors and stakeholders that APAFS has demonstrated adherence to the industry’s best fiduciary practices.”
Phil Loeffel, CEO and Founder of Riptide Software said, “we’re excited to show our dedication to our fiduciary responsibilities for our plan and our participants. Obtaining this certification is a key milestone for Riptide that proves we are aligned with participants in supporting their long term growth and success at Riptide.
The fiduciary practices are based on the Fi360 Inc. publication: Prudent Practices for Investment Stewards and are substantiated by legislation, case law and regulatory opinion letters from the Employee Retirement Income Security Act, Uniform Prudent Investor Act, Uniform Prudent Management of Institutional Funds Act, and the Uniform Management of Public Employee Retirement Systems Act in the U.S.
The annual certification process involves a detailed review of documents, investments and procedures followed by on-site interviews with key personnel. More information about Riptide Software is available at RiptideSoftware.com.
CEFEX, Centre for Fiduciary Excellence, LLC, an Fi360® company, is an independent certification organization. CEFEX works closely with industry experts to provide comprehensive assessment programs to improve the fiduciary practices of investment stewards, advisors, recordkeepers, administrators and managers. CEFEX is based in Pittsburgh, PA. Connect to CEFEX at www.CEFEX.org, via Twitter @CEFEX1 and on LinkedIn @CEFEX.
About Riptide Software:
Riptide Software is an award-winning CMMI Level 4 technology company headquartered in Central Florida. Since 1995, Riptide has delivered state-of-the-art military training systems that support our War-fighters through software and integrated hardware design, development, manufacturing, and sustainment of advanced technology systems using live, virtual, and constructive simulations. Riptide’s four divisions also include a wide array of products and services for the Department of Defense and various commercial industries. These services include: defense modeling and simulation, training systems, managed IT services, on-demand technologies, and machine learning/AI. Visit https://www.riptidesoftware.com/ for more information.