Investment Fiduciary Responsibilities:
Avoiding Issues & Oversights When Searching for Guidance
Lucy Rimsky, Director, Strategic Asset Alliance
We had the privilege of presenting at this year's 2024 CAJPA Finance & Technology Spring Workshop to discuss the importance of investment fiduciaries, as well as how JPAs can assess the investment advice they receive.
For your reference, below is a copy of the presentation. Please let us know if you have any addtional questions about any topics within the presentation.
Session Description:
Seeking investment advice from, or delegating tasks to, an outside party is one of the many duties a JPA staff or governing body member carries. Given the importance of the investment portfolio in supporting the JPA’s financial goals, it is important to remember that not all expertise is created equal. Your JPA may be following recommendations that involve conflicts of interests, fees, and opportunity costs that aren’t made apparent. This session will review the different types of third-parties providing investment advice, how to identify & assess the appropriateness of recommendations your JPA might receive, and how following certain guidance can lead to beneficial or detrimental outcomes to the investment portfolio.