We are committed to honest, consistent, and ethical performance reporting practices.
Apriem Advisors first claimed compliance with the GIPS® standards in 2015, and our firm’s compliance with the standards going back as far as 2011 are independently verified. Each year, we work with a third-party to stay informed of changes to the GIPS® standards, review our performance policies and procedures, as well as performance data for client accounts. On a monthly basis, we internally review performance data for client accounts. If this seems like a lot of work, it is. We take our fiduciary responsibility seriously.
Below are excerpts from www.GIPSStandards.org.
What are GIPS® Standards?
GIPS ® standards are a globally accepted methodology for calculating and presenting investment firms’ performance history that are widely relied upon by investment firms, their clients, and prospective clients for ensuring consistency of investment firm results.
What does this mean to you as an investor?
As an investor, you can rely on the performance presentations given to you by GIPS®-compliant firms. Claiming compliance with the GIPS® standards demonstrates a firm-wide commitment to ethical best practices and that the firm employs strong internal control processes.
Confidence in the integrity of presentations from compliant firms and the ability to compare performance across different firms.
If a firm does not comply with the GIPS® standards, you might want to explore why the firm has chosen not to comply.
What is verification?
Verification is the review of an investment management firm’s performance measurement processes and procedures by an independent third-party verifier. Specifically, verification assesses whether the firm has complied with all the composite construction requirements of the GIPS® standards on a firm-wide basis. It also tests whether the firm’s policies and procedures are designed to calculate and present performance in compliance with the GIPS® standards.
What are the benefits of verification?
Third-party verification brings additional credibility to the claim of compliance and supports the overall guiding principles of the GIPS® standards: fair representation and full disclosure of a firm’s investment performance.
Verification is intended to provide a firm and its existing and prospective clients with additional confidence in the firm’s claim of compliance.
– GIPS® is a registered trademark of CFA Institute. CFA Institute does not endorse or promote this organization, nor does it warrant the accuracy or quality of the content contained herein.
– Apriem Advisors (“Apriem”) is a registered investment adviser with the United States Securities and Exchange Commission in accordance with the Investment Advisers Act of 1940.
– Apriem claims compliance with the Global Investment Performance Standards (GIPS®). The firm’s GIPS Reports and/or the firm’s list of composite descriptions are available upon request. Please send requests to Rhonda Ducote at firstname.lastname@example.org or send us a mail at 19200 Von Karman Ave., Ste. 1050, Irvine, CA 92612.
– Apriem has been independently verified for the periods December 31, 2010 through December 31, 2022. The verification reports are available upon request. Please send requests to Rhonda Ducote at email@example.com or send us a mail at 19200 Von Karman Ave., Ste. 1050, Irvine, CA 92612.