“We have always had external audits, but this says I can look investors in the eye and say ‘You can trust us.’ The CEFEX certification tells you I am your fiduciary. I have to do what is in your best interests.”
- Rev. Mark Becker, FUMF president (2015-2022)
Taking Our Fiduciary Promise
To The Next Level
When it comes to investing, few things pique investor interest like high rates of return. But there’s another factor investors should note — whether or not those who manage the investments have their clients’ best interests at heart.
The Florida United Methodist Foundation does. And it has taken that commitment to a new level by receiving the Investment Steward Certification for its investment and charitable gift annuity funds. It’s a good-seal of approval from the Centre for Fiduciary Excellence (CEFEX).
Fiduciary is a legal term that means acting on behalf of another person or persons to manage assets and being bound ethically to act in the other’s best interests. The foundation has long met this standard, but the certification strengthened that promise.
During the certification process, CEFEX evaluates an organization based on 100 criteria related to 21 best practices. The analysis includes a cyber security review and interviews with boards, legal council, accounting and staff. It also includes telling organizations what they’re doing well and what they must improve. The organization then implements any recommendations.
By earning the certification, the foundation has added five to seven more layers of fiduciary oversight. It’s one more step toward ensuring the foundation is putting the interests of the churches and people it serves first.