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Center for Due Diligence Shuts Down

The Center for Due Diligence (CFDD) has ceased operations and closed its doors. On Dec. 25, the CFDD’s website was replaced with a farewell message from CFDD president Phil Chiricotti; 401khelpcenter’s Rick Meigs posted further details here

Chiricotti retiring at the age of 71, he told Meigs via email, adding, "It is time. It was a great run and we are pleased with our contributions to the industry." While the CFDD is being dissolved rather than sold, Meigs reports, the firm's database is available for purchase.

Chiricotti told Meigs he is definitely retiring, but added: "If we were to get involved with another business initiative, it would focus on scalable and monetizable services applicable to the aging of America. Given the focus on retirement readiness, the effective and efficient disposition of the average participant's largest asset, their detached single family residence, and the management of their largest retirement expense, the cost of health care, remain unmet by the financial services industry."

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