The Fiduciary Board Index™ module

Moving beyond compliance and checkboxes

The Fiduciary Board Index module allows boards of directors to both assess the strengths of their investment policies and highlight areas for improvement. The content of this unique, new evaluation and education tool was developed in collaboration with fi360, CEFEX, and Cambridge Fiduciary Services, LLC. The new product complements the existing suite of board tools offered by The Board Institute.

The Fiduciary Board Index module provides an objective and convenient online tool to help boards evaluate their performance and understand the board’s duty in fulfilling their fiduciary responsibilities for managing employee retirement plan investments. The Index delivers benefits to all boards of directors with responsibility for oversight of employee retirement plan investments and their investment committees.

According to Rich Lynch, COO of fi360. “Expanded funding requirements, increased ERISA regulation, disruption of the capital markets, a multitude of new investment products, and fiduciary breach litigation all serve to challenge even the most sophisticated institutions, thereby adding to their fiduciary burden. As a result, the need to measure and demonstrate sound investment practices, governance, and oversight has never been greater.”

The Index helps companies demonstrate best practices in the face of increased media, risk of litigation, and shareholder focus on investment losses. It is completed anonymously by board members, and, at their discretion, members of and those who work closely with the Investment Committee. It is built on a rich software engine and provides scores, variances, ranges of responses, best practices and individual comments to improve their investment fiduciary processes. The secure questionnaire takes 10 to 15 minutes to complete. Results are immediate, validated by leading survey experts and available on-line or in print.


  • Improve Performance – Our report enables your committee to establish a baseline and benchmark against internal metrics and best practices.
  • Respond to Key Metrics – Our Indexes are customizable for your company and situation, to respond to any key metrics that you need.
  • Fulfill Annual Evaluation and Director Educational Mandates – TBI is accredited by RiskMetrics/ISS, allowing you to assess your committee and fulfill director continuing education guidelines simultaneously.
  • Make Better, Clearer Decisions – Our process helps directors identify and understand strengths and areas to improve,
  • Avoid Mistakes – Contrary to other approaches, TBI is objective, independent, and comprehensive. With complete security, anonymity, and confidentiality, directors can answer freely and candidly, resulting in a valid report.
  • Recognize and Respond to Emerging Regulations – TBI proactively integrates the changing governance practices, laws, and regulations into its indexes.
  • Enhance Insurance Coverage – Directors & Officers’ insurers provide enhanced policies and the potential for reduced rates to boards of directors who conduct substantive evaluations.

How does it work?

The Fiduciary Board Index module is a two-step process that can be facilitated internally or by an outside consultant who works with the board to develop an action plan to respond to any issues raised. Read more about how TBI can integrate with your current evaluation process.

Step 1: Board members (and others, at the board’s discretion), anonymously, confidentially, and securely complete a comprehensive, online questionnaire. This takes approximately 10-15 minutes to complete. Upon completion, the questionnaires are automatically compiled and scored.

Step 2: A report of the results and analysis is immediately available to your evaluation administrator and other key stakeholders. The report, which is a composite and provides no identifying information about the respondents or the company, consists of:

  • An overall Fiduciary Board Index Score, together with a ranking of committee structure and composition, the role of the Fiduciary Committee members, and leadership of the committee.
  • Top 5 strengths, areas to improve and response ranges.
  • Specific feedback on sections, subsections, and questions providing scores, ranges, and comparisons.
  • A detailed inventory of specific questions with scores, ranges and comparisons together with best practices, stock exchange requirements, regulatory rules, and relevant Uniform Fiduciaries Act.

It’s as simple as that.

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