A written investment policy statement (WIPS) serves as a guidepost for the investment decision makers by identifying goals and creating a system and a discipline for all future investment decisions.

WHY HAVE AN INVESTMENT POLICY STATEMENT?

With the enactment of the Uniform Management of Institutional Funds (UMIF) in 1972, plan fiduciaries were given a defined code of conduct. A systematic and disciplined approach to investing can help reduce a fiduciary’s legal liability by demonstrating appropriate process.

GUIDE TO INVESTMENT FIDUCIARY PRACTICES

The WIPS allows the fiduciary to coordinate the management of the portfolio’s investment programs in a logical and consistent framework. These guidelines for money managers provide an essential link between the organization’s objectives and the realities of capital markets

• Determine the Writing Committee – We assist with this initial step to determine which board or staff members to recruit for the WIPS writing committee.
• Analyze Current Situation – With your key decision makers, we profile and complete assessment questionnaires
• Formalize Outline – We work with the WIPS writing committee to outline the statement goals, objectives, resources, time frame, distribution policy, as well as other crucial factors.
• Deadlines – All projects need deadlines. An WIPS is no exception. We help the organization set reasonable target dates and frequencies for review.
• Determine Resources – We guide in writing the policy for the monitoring of fees and results.
• Implement and Monitor – Once complete, presented, and approved, we empower the committee to put your WIPS into action.