How to Write an Investment Policy Statement [Paperback]

Jack Gardner (Author)

Book Description

Publication Date: January 2, 2004

'The preparation and maintenance of the Investment Policy Statement is the most critical function a fiduciary performs. this compact strategy guide provides advisors and their fiduciary clients with a useful tool that will help them comply with their ERISA-directed requirement."- Donald B. Trone, AIFAFoundation for Fiduciary StudiesERISA 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 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 outlines how to.- Define duties and responsibilities of all parties involved- Clarify diversification guidelines and keep costs in check- Identify due diligence criteria for selecting investment optionsPLUS: 2 sample Policy Statements are included, which can be downloaded directly from the website at: www.thornburg.com/IPS . Both templates make implementing a proper IPS easier and more accurate.Prepare documents that meet all industry standards of compliance and federal regulations with relative ease - every time - while protecting yourself and your firm from liability using this guidebook.

Product Details

• Paperback: 88 pages
• Publisher: Marketplace Books (January 2, 2004)
• Language: English
• ISBN-10: 159280098X
• ISBN-13: 978-1592800988
• Product Dimensions: 8.5 x 5.5 x 0.2 inches
• Shipping Weight: 4 ounces (View shipping rates and policies)
• Average Customer Review: 3.0 out of 5 stars  See all reviews (4 customer reviews)
• Amazon Best Sellers Rank: #614,044 in Books (See Top 100 in Books)

Customer Reviews

Most Helpful Customer Reviews

20 of 21 people found the following review helpful:

1.0 out of 5 stars Does Not Explain How to Write An IPS, October 8, 2005

By 

S. E. Nelson "NELZ" (Minnesota, USA) - See all my reviews
(REAL NAME)   

This review is from: How to Write an Investment Policy Statement (Paperback)

First of all Amazon should have a policy against relatives of the author writing reviews as you can see by the first two reviews. I am quite sure the Mr. Gardner is very good at his investment job but the couple of hours of effort that seemingly went into this "book" with the the accompanying price leave me feeling ripped off. Fortunately, I did not pay full price because this is not really a book but better described as a 50 page pamphlet that should be distributed for free. The first 8 chapters are all 2-4 pages long and are not particularly informative. The two ten-page templates that then follow are more informative and useful but still could use a greatly expanded explanation. There are several books out there at twice the price but with ten times the information that would serve a burgeoning financial advisor better.

9 of 10 people found the following review helpful:

1.0 out of 5 stars TERRIBLE!!!!, May 19, 2007

By 

Atherton Reader (Atherton, CA) - See all my reviews

Amazon Verified Purchase

This review is from: How to Write an Investment Policy Statement (Paperback)

Firstly, please note that the prior two 5-star reviewers from New Mexico are perhaps only coincidently close by the author's current full time employer:
Thornburg Investment Management
119 East Marcy Street, Suite 202
Santa Fe, NM 87501

This book is mostly designed for 401K or compensation committees who are concerned about liability, ERISA, and less familiar with the markets. It repeats several times that the best way for such parties to reduce their risks and liabilities is to consult an adviser... I'm sure the author would be willing to provide his professional services to you. Can anyone scream "conflict"? This book's intention probably was to provide a sales pitch for himself or to introduce his public image.

It provides only one outline of a non-401K IPS, which is generalized and unhelpful to anyone who may have already tried to take a stab at developing one. It includes very few examples otherwise for potential writers of IPS's.

My strong advice is to pass on this book. You'll probably find similar level of advice for free from asking a broker, lawyer, accountant, or friend who has had some experience with IPS writing.

2 of 22 people found the following review helpful:

5.0 out of 5 stars The Hemingway of Investment Policy Statement Authors!, February 24, 2005

By 

Sean Gardner "OnlySKG" (Albuquerque, NM) - See all my reviews
(REAL NAME)   

This review is from: How to Write an Investment Policy Statement (Paperback)

Jack Gardner is a talent far beyond our concept of genius. His approach to Investment Policy Statements is on par with Joyce's approach to the interior landscape of the mind in Ullyses. He breaks new ground in his use of language, tearing the roof off of conventional writing and far surpassing any literary expectations. Congratulations Jack, you are a rising talent to be reckoned with. I look forward to your future endeavors.