Learn how to read, draft and document investment policy statements.
Investment fiduciaries have an obligation to document a prudent investment decision-making process, but many individuals and committees struggle with the development, drafting, and documentation of a formal written investment policy statement (IPS). This discussion of the development of the IPS will help investment fiduciaries to adopt a disciplined and repeatable document drafting process. Learn how to draft and review an IPS that will help you to meet your fiduciary obligations, document your investment decision-making process, and get all fiduciaries to the entity in alignment with the investment strategy of the entity. This course will outline the disciplined process that you can use to develop a formal IPS. We will identify the main components of an IPS and show you how to draft an IPS tailored to your entity by reviewing examples of each of the eight components of an IPS. Review the best practices for reviewing and updating an IPS to keep it relevant and useful. Learn the art of developing an IPS to be used as a tool to improve your investment decision-making process.
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Why Lorman?
Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Introduction
- Why so Much Interest in Investment Policy Statements?
Defining the Investment Policy Statement (IPS)
- What Is an IPS?
- Why Do We Need an IPS?
- Who Needs the IPS?
- When Should an IPS Be Used?
- What Should You Include in Your IPS?
Drafting the IPS
- Who Owns the IPS?
- When Do We Draft the IPS?
- Who Will Draft the IPS?
- How Do We Draft an IPS?
- Where Can We Find Sample IPSs?
- What Are the Most Credible Sources for Sample IPSs?
- Resources
Reviewing the IPS
- Using the IPS to Keep Your Investment Strategy on Plan
- When Do You Review the IPS?
- How Do You Review an IPS?
- Annual Review Process
- New Fiduciary Education
Summary
- Benefits of a Well-Written IPS
- More Efficient DecisionMaking
- Building Consensus
- Everyone on the Same Page
- Opportunities for Fiduciary Education
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Why Lorman?
Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on May 24, 2022.
Call 1-866-352-9540 for further credit information.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
MP3 Download
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
David J. Bromelkamp
Allodium Investment Consultants
- President and CEO of Allodium Investment Consultants since 2005
- Accredited Investment Fiduciary (AIF®) since 2003 and CPA (inactive) since 1988
- Over 30 years of experience providing investment management consulting for both individual investors and institutional investors with specialized expertise advising fiduciaries responsible for foundations, endowments, nonprofit organizations, and both personal and charitable trusts
- Speaks frequently to professional trade associations on the best practices of fiduciary investment management; has taught continuing professional education courses on fiduciary investment management for the Minnesota Society of Certified Public Accountants (MNCPA), the Minnesota State Bar Association (MSBA), and the Fi360 INSIGHTS Professional Development Conference
- Co-founder and treasurer of the Center for Board Certified Fiduciaries™ (CBCF™) and holds the professional designation of Board Certified Fiduciary™ (BCF™)
- Author of several articles and white papers related to fiduciary investment management
- Member of the Minnesota Society of Certified Public Accountants, National Association of Personal Financial Planners, CEFEX Non-Profit Market Council, and MarketCounsel Member Council
- Master’s degree, University of St. Thomas, Saint Paul, Minnesota; B.S. degree, Saint John’s University, Collegeville, Minnesota
- Can be contacted at [email protected], 612-230-3702, or www.allodium.com
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Why Lorman?
Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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