Certified Financial Planner™ (CFP): The designation is awarded to those who have a bachelor's degree, spent a minimum of three years working in the financial arena, passed the rigorous exams of their financial planning knowledge (administered by the CFP Board of Standards) and successfully completed the Code of Ethics and Responsibilities requirement. Once a planner has become a certified, yearly continuing education courses are required.

Chartered Financial Analyst (CFA): To be awarded the CFA charter, a candidate must sequentially pass the Level I, Level II and Level III examinations and have at least three years of acceptable professional experience working in the investment decision-making process. Once a candidate becomes a CFA charterholder, he/she must comply with the Association for Investment Management and Research (AIMR) conditions, requirements, policies and procedures, including continuing education.

Certified Public Accountant (CPA): This designation is awarded to those who have a bachelor's degree in accounting, spent a certain amount of time in the accounting arena and passed the rigorous Uniform CPA Examination. Like the CFP designation, yearly continuing education courses are required with one of the courses being in ethics.

Certified Trust and Financial Adviser (CTFA): The Institute of Certified Bankers (ICB) awards the CTFA designation to individuals who meet personal trust experience and education requirements, pass an examination on tax law, investment management, personal finance, insurance and estate planning, fiduciary and trust activities, and agree to meet ICB's continuing education requirements.

Chartered Retirement Planning Counselor (CRPC^®): The CRPC designation is awarded to students who complete an educational program, pass the final examination, and sign a code of ethics commitment and declaration form. The CRPC Program focuses on the pre- and post-retirement needs of individuals, addressing issues such as estate planning and asset management.

Core & Satellite Investing: The strategy of investing in a core portfolio, enhanced by satellite positions in high alpha and high beta assets, has been around for decades. The majority of the portfolio is invested in a mix of passive funds linked to various indices, replicating a global index. The satellite plays are of varying risk levels and are invested in uncorrelated assets.

Fee-Only: A Fee-Only planner is one who, in all circumstances, is compensated solely by the client, with neither the advisor nor any related party receiving compensation that is contingent on the purchase or sale of a financial product. Fee-only planners do not receive commissions, rebates, awards, finder's fees, bonuses or any form of compensation from others as a result of a client's implementation of the individual's planning recommendations. Truepoint Capital reflects its commitment to fee-only planning on its Form ADV (see Disclosures).

Fiduciary: A person, bank or trust company who has been placed in a position requiring them to be faithful and trustworthy, and to perform their duties in the best interest of the beneficiaries and in accordance to fiduciary law.

Investment Policy Statement: An Investment Policy Statement documents the investment plan and commits to a disciplined strategy. The document should contain a well-articulated purpose of the policy statement, a review of the objectives for the investment program, specific asset allocation policies, securities guidelines, money manager selection criteria and specific money manager performance monitoring procedures.

Irrevocable Life Insurance Trust: An effective estate planning vehicle which is an irrevocable trust and is both the owner and beneficiary of life insurance on an individual. An individual may define the terms under which the beneficiaries of the trust will receive the benefits of the life insurance proceeds, of which are excluded from federal estate taxation.

Multi-Family Office (MFO): The family office represents a center of influence and stability to help families with exceptional wealth ensure the preservation and growth of their financial assets and family heritage.  In general, MFO aggregates and focuses resources to facilitate a common interest in asset protection, cost control, financial education, family philanthropy and a host of other needs.  MFOs are structured to offer integrated, interdisciplinary services to ultra-high net worth individuals and families.  MFOs have historically provided customized service levels and confidentiality not available from larger product-driven financial institutions.

Trust Company: A corporation which must act in a fiduciary manner in carrying out the terms of a trust agreement.

Trustee: An individual, bank or trust company who must act in a fiduciary manner in carrying out the terms of a trust agreement.

Wealth Management: A type of financial planning that provides high net worth individuals and families with not only investment management, but also estate planning, legal resources and tax planning expertise, with the goal of sustaining and growing long-term wealth.  Wealth management firms provide advice on a multi-dimensional level and serve an affluent community.