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Do Your Financial Self-Assesment Here

Elevate Your Fiduciary Standards with Madison Managers' Comprehensive Self-Assessment

Madison Wealth Managers proudly introduces a meticulously crafted self-assessment designed to empower fiduciaries with the clarity and insight needed to elevate their financial and investment management practices. This assessment, encapsulating 22 critical questions, is ingeniously structured to guide fiduciaries through an introspective evaluation of their adherence to global fiduciary standards of excellence. From ensuring investments are managed in accordance with applicable laws and identifying the roles and responsibilities of all parties involved, to implementing a rigorous due diligence process for selecting service providers, this self-assessment covers a comprehensive range of practices pivotal for fiduciary excellence. It serves as a vital tool for uncovering strengths, identifying areas for improvement, and ensuring a higher standard of fiduciary responsibility is both achieved and maintained.

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The insights garnered from Madison Managers' self-assessment are invaluable. By affirmatively answering each question, fiduciaries can gain confidence in their organization’s compliance with fiduciary standards, while responses that highlight areas of improvement offer a clear path towards enhancing fiduciary practices. This self-assessment is not merely a checklist; it is a profound educational journey that fosters a deeper understanding of fiduciary duties, encourages the implementation of structured, socially responsible investment strategies, and promotes the ongoing evaluation of an organization's effectiveness in meeting its fiduciary responsibilities. Whether regarding investments, risk management, or service provider selection, the self-assessment provides a comprehensive framework for fiduciaries to benchmark their operations against best practices.

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Undertaking Madison Managers' self-assessment is crucial for any fiduciary aiming to uphold the highest standards of care and responsibility. In today’s complex and ever-evolving financial landscape, staying compliant and informed is paramount. This self-assessment not only aids in aligning fiduciary practices with established laws and regulations but also enhances the trust and confidence placed in fiduciaries by their beneficiaries. By identifying and addressing any potential shortfalls or areas for growth, fiduciaries can ensure they are positioned to effectively manage and protect the assets entrusted to them. We invite fiduciaries to embrace this opportunity to strengthen their practices, foster transparency, and ensure the prosperous future of their investments and beneficiaries.


1. Are investments managed in accordance with applicable laws, trust documents, and written investment policy statements (IPS)?
(Practice S-1.1)

2. Are the roles and responsibilities of all involved parties (fiduciaries and non-fiduciaries) defined, documented, and acknowledged?
(Practice S-1.2)

3. Is there no indication that fiduciaries and parties in interest are involved in self-dealing?
(Practice S-1.3)

4. Are service agreements and contracts in writing? Are they written without provisions that conflict with fiduciary standards of care?
(Practice S-1.4)

5. Are assets within the jurisdiction of appropriate courts? Are they protected from theft and embezzlement?
(Practice S-1.5)

6. Has an investment time horizon been identified?
(Practice S-2.1)

7. Has a risk level been identified?
(Practice S-2.2)

8. Has an expected, modeled return to meet investment objectives been identified?
(Practice S-2.3)

9. Are selected asset classes consistent with the identified risk, return, and time horizon?
(Practice S-2.4)

10. Are selected asset classes consistent with implementation and monitoring constraints?
(Practice S-2.5)

11. Is there an IPS containing the detail to define, implement, and manage a specific investment strategy?
(Practice S-2.6)

12. Does the IPS define appropriately structured, socially responsible investment (SRI) strategies (where applicable)?
(Practice S-2.7)

13. Is the investment strategy implemented in compliance with the required level of prudence?
(Practice S-3.1)

14. Are applicable “safe harbor” provisions followed (when elected)?
(Practice S-3.2)

15. Are investment vehicles appropriate for the portfolio size?
(Practice S-3.3)

16. Is a due diligence process followed in selecting service providers, including the custodian?
(Practice S-3.4)

17. Are there periodic reports comparing investment performance against an appropriate index, peer group, and IPS objectives?
(Practice S-4.1)

18. Are periodic reviews made of qualitative and/or organizational changes of investment decision-makers?
(Practice S-4.2)

19. Are control procedures in place to periodically review policies for best execution, “soft dollars,” and proxy voting?
(Practice S-4.3)

20. Are fees for investment management consistent with agreements and with a ll applicable laws?
(Practice S-4.4)

21. Are “finder’s fees” or other forms of compensation that may have been paid for asset placement appropriately applied, utilized, and documented?
(Practice S-4.5)

22. Is there a process to periodically review the organization’s effectiveness in meeting its fiduciary responsibilities?
(Practice S-4.6)