The Fiduciary & Investment Risk Management Association, Inc.
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Association Profile

FIRMA At-A-Glance

The Fiduciary and Investment Risk Management Association, Inc. (FIRMA) is the leading provider of current and relevant fiduciary and investment risk management education and networking opportunities to risk management professionals of banks, trust companies, investment advisors, broker-dealers, insurance companies and other providers of financial services. FIRMA  has the objective of providing fiduciary risk managers with the tools and knowledge needed to perform their functions in the rapidly changing financial services landscape.

FIRMA was established in the mid 1980’s as a non-stock, tax-exempt national membership organization, recognizing the specific expertise of Certified Trust Auditors and Certified Trust Compliance Professionals and offering continuing education opportunities to these professionals and others in the industry. FIRMA is a member driven organization with one of its greatest strengths being that the Board and its Committees are comprised of members who play key roles in their institution’s daily management of enterprise risks. This involvement provides FIRMA members with the most relevant information and insights pertaining to the latest issues involving fiduciary and investment management risks. Since its inception, FIRMA has continually expanded its programs, benefits and services to meet the needs of risk management professionals, who encounter diverse issues in the ever-changing fiduciary and investment services industry.


FIRMA's paramount purpose is to educate, support, and promote risk management professionals and improve the effectiveness of risk management for the fiduciary and investment services industry. As banks, trust companies, securities firms and insurance companies are allowed to affiliate with one another they become more of a financial supermarket providing their customers with “one-stop” shopping for all their financial needs. In addition, these entities are now allowed to offer services that they were traditionally prohibited from offering. As they enter one another’s markets, they may become exposed to risks unfamiliar to them. Strategic inter-relationships among affiliates also provide risk managers with new challenges and issues in managing risks associated with the offering of fiduciary products and services. FIRMA has strategically positioned itself to provide its members with assistance in dealing with these issues and is able to provide a common forum for individuals from these diverse institutions to identify, address and properly manage these issues at an acceptable level of risk. The success and superior quality of both past and future FIRMA conferences and regional training programs are evidenced by the forward thinking of the organization’s management team as well as the valuable input of its members in the planning and execution stages of these programs.

FIRMA provides assistance to its members in identifying and managing these risks, as well as providing a forum for the discussion and distribution of information regarding best practices. Though the objectives of FIRMA and its broad membership base are diverse, there are a number of compatible goals that remain constant.

These are to:

  • Provide the industry with comprehensive training programs addressing current and important fiduciary and investment industry issues.
  • Alert its members to new and changing fiduciary and investment risk management issues through regional seminars, national conferences, and FIRMA FORUM magazine, as well as an interactive website.
  • Create a forum where fiduciary and investment issues may be identified and discussed in a free exchange of ideas among members.
  • Promote sound fiduciary risk management, audit and compliance practices within the fiduciary and investment services industry.
  • Provide recognition of an individual’s professional certification.
  • Offer continuing education opportunities for the maintenance of professional certifications.
  • Promote professionalism and maintain ethical standards within the fiduciary and investment services industry.
  • Provide employers and clients with a standard for identifying skilled, knowledgeable professionals.