DBR Fiduciary Plan Solutions Awarded CEFEX Certification for Fiduciary Excellence


Rick Applegate





Pittsburgh, PA July 15, 2020: 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 www.cefex.org.

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 www.cefex.org and a summary can be viewed by clicking on DBR Fiduciary Plan Solutions’ online CEFEX certificate.

For more information about DBR & CO, please visit us at www.dbroot.com

About DBR & CO

DBR & CO is an independent Registered Investment Advisor (RIA), providing private wealth management services to individuals and families as well as qualified retirement plan management in a fiduciary capacity to businesses and non-profit organizations. As of December 31, 2019, DBR had approximately $679,053,671 in assets under management, all of which was managed on a discretionary basis, as well as $5,997,541,756 in assets under advisement which are managed on a non-discretionary basis.

Founded in 1994, the firm has offices in Downtown Pittsburgh and Toledo, Ohio.

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. Learn more at www.cefex.org via Twitter or on LinkedIn.

Media Contact:

Jack Carroll

Marketing Services



Richard Applegate

DBR Fiduciary Plan Solutions




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