BPAS Earns Prestigious CEFEX Certification for Excellence in Retirement Services

BPAS Achieves CEFEX Certification

BPAS, a prominent nationwide provider specializing in retirement plans, benefit plans, fund administration, and collective investment trusts, recently announced a significant milestone in its journey towards excellence by earning the prestigious certification from the Centre for Fiduciary Excellence (CEFEX). This achievement underscores BPAS's commitment to aligning its practices with the best interests of its clients, marking it as a trustworthy provider in the financial services sector.

Carlos Panksep, Vice President of CEFEX, stated that the certification indicates BPAS’s established practices are not only trustworthy but also aligned with investor interests, reinforcing the organization's integrity and reliability. CEFEX certification is granted exclusively to firms that adhere to the American Society of Pension Professionals and Actuaries (ASPPA) Standard of Practice for Retirement Plan Service Providers, which includes best practices across various essential domains such as governance, operations, and disclosure.

The certification process is rigorous and involves a thorough assessment of the firm's operational data, procedures, and on-site interviews with key personnel. This ensures a comprehensive evaluation of the firm's adherence to established standards, reflecting its operational integrity and service quality.

Maryann Geary, President of BPAS Plan Administration and Recordkeeping Services, expressed pride in the organization's achievement, stating, "Earning the CEFEX mark reflects our team's unwavering commitment to excellence, integrity, and continuous improvement. We strive for excellence as a core part of our culture and continuously evolve every aspect of our business. This certification further reinforces our dedication to delivering the highest quality services to our clients and partners."

BPAS is now CEFEX certified for both Recordkeeping and Third-Party Administration Services, a testament to its excellent practices in the retirement services sector. The certification is publicly registered and can be reviewed at www.fi360.com/cefex.

CEO Paul Neveu emphasized that the focus on quality and operational integrity is fundamental to BPAS's core philosophy. While the company had considered pursuing CEFEX certification in the past, it had deferred due to the existing range of audits already conducted on its operations. However, responsive to evolving industry demands, BPAS re-evaluated the CEFEX program more comprehensively and recognized significant client benefits associated with the certification. This move reflects BPAS’s desire to maintain excellence in its services, as the CEFEX Mark is highly regarded in the industry as a symbol of quality.

In Neveu's opinion, certification cannot merely be regarded as an equivalent to traditional financial audits; it represents an independent assessment of operational practices pertinent to top-tier administration and recordkeeping firms. He noted, "Our certification aligns with BPAS's cultural ethos of integrity, ethical values, and service excellence. We will persist in optimizing every aspect of our solutions, from technology to compliance and client experience, to ensure the best possible outcomes for our partners and clients."

Founded in 1973, BPAS has a long-standing mission to simplify complexity in providing benefit-plan services that address client needs without requiring the involvement of multiple providers. As a solutions-oriented practice, BPAS is responsible for managing over 6,100 plans with trust assets exceeding $110 billion and total fund administration of $1.3 trillion. Offering a comprehensive array of services, BPAS addresses various retirement and benefit-related needs, ensuring a seamless quality of care in its operations.

In conclusion, BPAS's achievement of the CEFEX certification not only sets a benchmark for operational excellence but also illustrates its commitment to providing unparalleled service quality in the retirement planning industry. As BPAS continues to enhance its capabilities in solution-oriented services, the CEFEX certification is anticipated to strengthen its competitive edge, thereby benefiting clients across the board.

For further details, visit bpas.com.