The Standard is comprised of seventeen Practices, which are intended to provide the foundation and framework for a disciplined recordkeeping and administration process.

The Practices are organized under a four-step Management Process analogous to the global ISO 9000 Quality Management System standard, which emphasizes continual improvement to a decision-making process:

Step 1: Organize (Practices that begin with 1.)

Step 2: Formalize (Practices that begin with 2.)

Step 3: Implement (Practices that begin with 3.)

Step 4: Monitor (Practices that begin with 4.)

For each Practice, one or more Criteria are provided to describe the Practice  and to help define the details of how the Practice is assessed for conformity.

How the program works….

The initial registration process typically takes four to six weeks, depending on the readiness of the candidate to provide the necessary materials and data. The assessment process can be defined in four basic steps:

1. Data is collected by an independent assessment firm.
2. Onsite visit and interviews are conducted by an independent qualified analyst who represents the independent assessment firm.
3. The analyst prepares a Consultant’s Assessment of Practices (CAP) report of its findings and makes a recommendation to the Centre for Fiduciary Excellence (CEFEX) Registration Committee (CRC). The Criteria covered is dependent upon the Service Classification(s) being assessed.
4. The CRC reviews the recommendation and makes the final decision for registration. If the candidate has satisfied the necessary requirements, CEFEX awards the ASPPA Service Provider Certification.