The Spaulding Group - Management Consultants and Information Providers to the Money Management Industry

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The Spaulding Group to Discontinue Certification Program
Work Product Turned Over to CFA Institute

Somerset, NJ – February 22, 2005. The Spaulding Group (TSG) announced today that they have discontinued work on the project they began a year ago, to develop a formal certification program for investment performance measurement professionals. "We learned that the CFA Institute was going to develop a similar program, and decided that the industry didn't need two, so we decided to put a halt to our efforts" said Patrick Fowler, Senior Vice President of The Spaulding Group.

"The ‘blue ribbon committee' (BRC) we formed had worked quite hard developing the examination, so we were obviously a bit disappointed. However, we reached an agreement with the CFA Institute to turn our work product over to them for use in their program" said David Spaulding, the firm's president and founder. "In addition, we gave them the list of the BRC members and are hopeful that some will play a role in the work they're doing. We are very grateful for the contributions that our team of volunteers made to this effort and look forward to the program becoming a reality. The important thing isn't who develops a certification program, but that one is created to honor those who work in this segment of the industry."

The Spaulding Group, Inc. is an information provider and management consulting firm that serves the money management industry in the areas of performance measurement and reporting, computer technology, operations, and marketing. TSG publishes The Journal of Performance Measurement, a quarterly publication they launched in 1996, and hosts the Performance Measurement Forum. The firm hosts the annual Journal of Performance Measurement Performance Measurement, Attribution and Risk (PMAR™) conference in New York. Through the Institute of Performance Measurement, the firm offers performance measurement training, including an introductory course on performance measurement, a course on performance attribution, and a performance measurement class specifically designed for plan sponsors and consultants. The company was founded in 1990 by David Spaulding and provides services and products to financial institutions throughout the world. Other details about TSG's services may be obtained from its website: www.SpauldingGrp.com.