ERISA and other guidelines have long required fiduciaries to implement a uniform process for drafting an Investment Policy Statement (IPS). But historically, enforcement was lax, leaving companies little motivation to develop a formal practice.

Now, times have changed. Corporate scandals coupled with volatility in the markets have generated an increase in complaints, lawsuits and even the possibility of government legislation requiring an official IPS. This compact guide will help financial advisors, plan sponsors, money managers and all professional fiduciaries protect themselves, stay in compliance - and stay one step ahead of the government mandate - by putting a simple IPS process in place.

Industry pro Jack Gardner provides an easy-to-follow framework for producing a well-written IPS based on practices recognized by the Foundation for Fiduciary Studies. In clear terms, he outline how to .....

- Define duties & responsibilities of all parties involved.
- Clarify diversification guidelines and keep costs in check.
- Identify due diligence criteria for selecting investment options.

Written by Jack Gardner, Thornburg Investment Management
Foreword by Donald B. Trone, Foundation for Fiduciary Studies