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Using Investment Policy Statements as an Investment Tool: It's an Art, Not a Science

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. This topic on the development of the investment policy statement will help investment fiduciaries to adopt a disciplined and repeatable document drafting process. You will learn how to draft and review an investment policy statement 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. The material will outline the disciplined process that you can use to develop a formal investment policy statement. We will identify the main components of an investment policy statement and then show you how to draft an investment policy statement tailored to your entity by reviewing examples of each of the eight components of an investment policy statement. Finally we will review the best practices for reviewing and updating an investment policy statement to keep the investment policy statement both relevant and useful. You will learn the art of developing an investment policy statement so it can be used as a tool to improve your investment decision-making process.

Runtime: 94 minutes
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Why Lorman?

Over 33 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

Defining the Investment Policy Statement (IPS)

  • What Is an Investment Policy Statement?
  • Why Do We Need an Investment Policy Statement?
  • Who Needs the Investment Policy Statement?
  • When Should an Investment Policy Statement Be Used?
  • What Should You Include in Your Investment Policy Statement?
  • Components of an Investment Policy Statement

Drafting the Investment Policy Statement (IPS)

  • Who Owns the Investment Policy Statement?
  • When Do We Draft the Investment Policy Statement?
  • Who Will Draft the Investment Policy Statement?
  • How Do We Draft an Investment Policy Statement?
  • Where Can We Find Sample Investment Policy Statements?
  • What Are Credible Sources for Sample Investment Policy Statements?
  • Resources for Drafting Investment Policy Statements

Reviewing the Investment Policy Statement (IPS)

  • When Do You Review the Investment Policy Statement?
  • How Do You Review the Investment Policy Statement?
  • Annual Review Process
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Why Lorman?

Over 33 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

Applications have not yet been submitted for Delaware, Idaho, Kentucky, Ohio, Oklahoma, South Carolina, and Wyoming CLE for this course. However, if you are interested in obtaining CLE for any of the listed states or have any additional credit questions please email us at [email protected] or call us at 866-352-9540.

This course was last revised on February 27, 2020.

Call 1-866-352-9540 for further credit information.

  • AR CLE 1.5
     
  • This course has been approved for 1.5 hours of CLE by the Arkansas CLE Board.
     
  • Arizona CLE 1.5
     
  • The Arizona State Bar does not pre-approve or pre-certify MCLE programs. However, records of this program and attendance will be maintained by Lorman Education Services for auditing purposes. This activity may qualify for up to 1.5 hours toward your annual CLE requirement for the State Bar of Arizona.
     
  • CA MCLE 1.5
     
  • Lorman Business Center, LLC. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
     
  • CT CLE 1.5
     
  • Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.5 CLE credit(s).
     
  • HI CLE 1.5
     
  • This program was approved by the Hawaii State Board of Continuing Legal Education for 1.5 CLE credit hours.
     
  • IL CLE 1.5
     
  • This course was approved for a total of 1.5 hours of MCLE Credit by the Illinois MCLE Board.
     
  • ME CLE 1.5
     
  • This course has been approved by the State of Maine Board of Overseers of the Bar. Lawyers who complete this course shall receive 1.5 hours of CLE credit under M. Bar R. 12.
     
  • MT CLE 1.5
     
  • This program has been approved by the Montana Commission of Continuing Legal Education for a total of 1.5 CLE credits.
     
  • NH MCLE 1.6
     
  • NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this Ondemand course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 94 Minutes.
     
  • NJ CLE 1.8
     
  • This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 1.8 hours of total CLE credit.
     
  • NV CLE 1.5
     
  • This program has been approved by the Nevada Board of Continuing Legal Education for 1.5 CLE hours.
     
  • PA CLE 1.5
     
  • This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.5 hours of substantive law, practice and procedure CLE credit.
     
  • RI CLE 1.5
     
  • This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.5 hours of CLE credit.
     
  • VT CLE 1.5
     
  • This self-study program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.5 hour(s) of CLE credit. Please note: Attorneys may only claim 6 credits per compliance period in this format. This course is considered "Non-Moderated Programming without Interactivity".
     
  • WA CLE 1.5
     
  • This program has been approved by the Washington State Board of Continuing Legal Education for 1.5 hours of A/V credit under the Law & Legal Procedure category.
     
  • WI CLE 1.5
     
  • This program qualifies for 1.5 hour(s) of ondemand CLE through the WI Board of Bar Examiners.
     
  • WV MCLE 1.8
     
  • This program has been approved by the West Virginia State Bar MCLE Commission for 1.8 MCLE hours.
     

To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • HI CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 33 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

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
  • He 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
  • Written several articles and white papers related to fiduciary investment management
  • Member: Minnesota Society of Certified Public Accountants, National Association of Personal Financial Planners, CEFEX Nonprofit Market Council, MarketCounsel Member Council
  • B.S. degree, Saint John’s University, Collegeville, Minnesota; M.A. degree, University of St. Thomas, Saint Paul, Minnesota
  • Can be contacted at 612-230-3702, [email protected] or www.allodium.com
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Why Lorman?

Over 33 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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Product ID: 406884
Published 2020
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