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Richardson GMP has become the first Canadian investment advisory firm to be certified for fiduciary excellence.

After a rigorous assessment process to audit its practices, the Centre for Fiduciary Excellence (CEFEX) has determined that Richardson GMP's Portfolio Management Account platform (for advisors who have complete control over decisions for their clients) and the firm's Separately Managed Account platform conform to the global fiduciary standards of excellence.

"We value and respect the very high degree of trust our clients have bestowed upon us and this certification demonstrates our commitment to their best interests," says Andrew Marsh, president and CEO of Richardson GMP. "We encourage clients to be educated and engaged in the advisory relationship, but believe we have an obligation to hold ourselves to the highest standard of fiduciary care and be leaders in the wealth management industry."

To achieve CEFEX certification, an investment advisory firm must demonstrate adherence to fiduciary precepts, under the scrutiny of a panel of advisors and analysts, all of whom are Accredited Investment Fiduciary Analysts. The certification process involves a detailed assessment of operational data and procedures.

Originally published on Advisor.ca