Publications: Press Release

July 29, 2009

Media Contact:      Ronald E. Hagan       (866) 933-IFLC       ronhagan@iflcouncil.org

IFLC ENDORSES FIDUCIARY COMMITTEE

Washington, D.C. - The Investment Fiduciary Leadership Council ("IFLC") announced today that it has endorsed the Committee for the Fiduciary Standard. In making the announcement, Ronald E. Hagan, who is the Chairman of IFLC's board of directors said, "It is vital to the persons who serve in a fiduciary capacity for pension plans and charitable organizations that the authentic fiduciary standard, already existing in current law, apply to all investment professionals. This includes any firm or person who provides financial or investment advice or who holds themselves out as financial or investment advisors."

Hagan went to say, "The purpose of the Committee for the Fiduciary Standard aligns very well with the mission and purpose of IFLC. IFLC believes strongly that uniform standards for the investment community are as vital to the health of pension participants' accounts and other investors as are the mature business standards that drive global economies."

IFLC has a history of advocating the normalization of the legal duty that binds investment advisors and financial consultants to investors. IFLC's support for the Committee for the Fiduciary Standard is consistent with its position that such legal duty should be defined under a fiduciary standard of care.

Headquartered in Washington, D.C, IFLC is a leading advocate of fiduciary standards for the U.S. retirement and charitable donor communities. Its members are certified by CEFEX against a benchmark of practices developed by the Foundation for Fiduciary Studies. IFLC's members include investment advisory and investment management firms, organizations that sponsor retirement plans, and trustees of private trusts. Visit IFLC's website at www.iflcouncil.org.