NEW YORK, Dec. 20, 2012 /PRNewswire/ -- National Financial Partners Corp. (NYSE: NFP), a leading provider of benefits, insurance and wealth management services, today announced the establishment of an innovative strategic relationship between its broker/dealer and investment advisor and the Centre for Fiduciary Excellence, LLC ("CEFEX"). Through this alliance -- the first of its kind between CEFEX and an independent broker/dealer -- NFP will provide advisors with access to resources and tools to support the process of becoming a CEFEX certified investment fiduciary.
CEFEX is an independent organization that assesses the trustworthiness of investment fiduciaries. Certification by CEFEX is a demonstration of adherence to all fiduciary practices as defined by an independent accreditation process. A CEFEX certified Investment Advisory firm is an acknowledged fiduciary to its clients, including retirement plans.
James Poer, President, NFP Advisor Services Group, commented, "We recognize the value proposition for advisors that choose to act as a fiduciary, particularly given the growing industry demand for more holistic financial guidance. Today's announcement is an extension of our commitment to helping our advisors evolve their businesses into multidiscipline practices so they are better able to serve clients. We are extremely pleased to be able to provide our advisors with the tools and resources needed to facilitate the process of pursuing the CEFEX certification."Carlos Panksep, General Manager of CEFEX, commented, "CEFEX completed the assessment of NFP's role in supporting the Investment Advisor certification process. Through our independent assessment, the certification provides assurance to clients that participating advisors are demonstrating adherence to the industry's best fiduciary practices." Edward O'Malley, President, NFP Corporate Client Group, commented, "Establishing trust with clients is paramount, and certification by CEFEX signifies an advisor's commitment to providing sound and objective financial advice held to the highest professional standards. As more advisors become certified as fiduciaries, we believe our corporate clients will benefit from access to the enhanced services that accredited financial advisors on the NFP platform will now be able to provide. We look forward to working with CEFEX to assist our advisors in pursuing and maintaining this important recognition."