Code of Ethics

Maintaining the highest ethical standards has been our guiding principle since the founding of PacWest Financial Management in April of 1997. We abide by the Code of Ethics and The Standards of Professional Conduct established by the Association of Investment Management and Research (AIMR). Over half of our professional staff is a member of the Association.

The AIMR Code of Ethics
Members of the Association for Investment Management and Research shall:

• Act with integrity, competence, dignity, and in an ethical manner when dealing with the public, clients, prospects, employers, employees, and fellow members.
• Practice and encourage others to practice in a professional and ethical manner that will reflect credit on members and the profession.
• Strive to maintain and improve their competence and the competence of others in the profession.
• Use reasonable care and exercise independent professional judgment.

Standard IV: Relationships with and Responsibilities to Clients and Prospects
"A fiduciary is an individual or institution charged with the duty of acting for the benefit of another party in matters coming within the scope of the relationship between them."

"Fiduciaries owe undivided loyalty to their clients and must place client interests before their own."

"The fiduciary duty of the individual client is especially important because the knowledge and information of the professional investment manager may be greater than the knowledge and information of the client. This disparity places the individual client in a vulnerable position of trust. The manager in these situations has the responsibility to ensure that the client's objectives and expectations for the circumstances and that the risks involved are fully understood and appropriate. In most circumstances, recommended investment strategies should relate to the long-term objectives of the client. Particular care should be taken to ensure that the goals of the investment manager or the firm in placing the business, selling products, or executing security transactions do not conflict with the best interest of the client."

Source: Standards of Practice Handbook, published by Association of Investment Management and Research, 1999.

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