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Company News | Aug 03, 2020

DBR Fiduciary Plan Solutions Awarded CEFEX Certification for Fiduciary Excellence

Steven J. Kaczynski, Jr.


DBR & CO (DBR) today announced that its retirement plan advisory group, DBR Fiduciary Plan Solutions, was awarded certification for excellence in its fiduciary investment advisory practices from the Centre for Fiduciary Excellence (CEFEX). DBR joins a select, international group of Investment Advisors to successfully complete the independent certification process. CEFEX certification signifies conformity to the highest recognized standards of fiduciary excellence and professional conduct.

The standard attests to how DBR Fiduciary Plan Solutions assumes responsibility for managing a retirement plan client’s overall investment management process, which includes the selection, monitoring and replacement of investment managers, as well as developing processes to implement investment strategies and fiduciary best practices on an ongoing basis.

“CEFEX is pleased to add DBR Fiduciary Plan Solutions to an elite group of investment advisors,” said CEFEX Managing Director Carlos Panksep. “Through CEFEX’s independent assessment, the certification provides assurance to individual and institutional clients, that DBR has demonstrated adherence to the industry’s best fiduciary practices. This indicates the firm’s interests are aligned with retirement plan trustees, Retirement Committee members and plan participants.”

Richard Applegate, CFP®, AIFA®, CPFA, ChFC®, CLU®, Managing Director of DBR Fiduciary Plan Solutions, said, “The CEFEX certification is the standard of excellence in our industry, with less than 250 firms worldwide having obtained this designation. It is a significant step forward in DBR Fiduciary Plan Solutions’ identification as a firm offering premier retirement planning services nationally.”

Continually improving the level of expertise delivered to retirement plans is of substantial importance to DBR & CO which advises qualified plans across the country. “Obtaining the CEFEX designation is a significant development, not just for the firm, but namely for our plan sponsors who have the fiduciary responsibility to defend their selection of outside service providers. Ultimately, its’s about providing advice and guidance that will serve the best interests of plan participants.”

DBR is CEFEX certified as a Registered Investment Advisor providing fiduciary consulting services to ERISA defined contribution, defined benefit and 403(b) plans as a 3(21) non-discretionary and 3(38) discretionary fee-based advisor. DBR Fiduciary Plan Solutions’ certification is registered and can be viewed at

CEFEX certification standards are substantiated by legislation, case law and regulatory opinion letters from the Employee Retirement Income Security Act (ERISA), the Investment Advisers Act of 1940, the Uniform Prudent Investor Act (UPIA), the Uniform Prudent Management of Institutional Funds Act (UPMIFA) and the Uniform Management of Public Employee Retirement Systems Act (UMPERSA) in the U.S. A full copy of the standard can be downloaded from CEFEX at and a summary can be viewed by clicking on DBR Fiduciary Plan Solutions’ online CEFEX certificate.

About CEFEX®

CEFEX®, Centre for Fiduciary Excellence, a Fi360® company, is an independent certification organization. CEFEX works closely with industry experts to provide comprehensive assessment programs to improve the fiduciary practices of investment stewards, advisors, recordkeepers, administrators and managers. CEFEX is based in Pittsburgh, PA.

This material has been provided for general, informational purposes only, represents only a summary of the topics discussed, and is not suitable for everyone. The information contained herein should not be construed as personalized investment advice or recommendations. Rather, they simply reflect the opinions and views of the author. D. B. Root & Company, LLC. does not provide legal, tax, or accounting advice. Before making decisions with legal, tax, or accounting ramifications, you should consult appropriate professionals for advice that is specific to your situation. There can be no assurance that any particular strategy or investment will prove profitable. This document contains information derived from third party sources. Although we believe these third-party sources to be reliable, we make no representations as to the accuracy or completeness of any information derived from such sources, and take no responsibility therefore. This document contains certain forward-looking statements signaled by words such as "anticipate," "expect", or "believe" that indicate future possibilities. Due to known and unknown risks, other uncertainties and factors, actual results may differ materially from the expectations portrayed in such forward-looking statements. As such, there is no guarantee that the expectations, beliefs, views and opinions expressed in this document will come to pass. Information presented herein is subject to change without notice and should not be considered as a solicitation to buy or sell any security. All investment strategies have the potential for profit or loss. Asset allocation and diversification do not ensure or guarantee better performance and cannot eliminate the risk of investment losses. The impact of the outbreak of COVID-19 on the economy is highly uncertain. Valuations and economic data may change more rapidly and significantly than under standard market conditions. COVID-19 has and will continue based on economic forecasts to have a material impact on the US and global economy for an unknown period.

Steven J. Kaczynski, Jr.


Senior Financial Advisor, Managing Director, Fiduciary Plan Solutions

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