Investment Management Consultants Association (IMCA) presented awards to five industry veterans during its annual conference in Orlando, the organization announced Tuesday, May 18.

The 2010 Matthew R. McArthur Award went to William Fouse and Peter Bernstein for their outstanding contributions to the profession of investment management consulting. Fouse, co-founder and chairman emeritus of Mellon Capital, is generally recognized as the “Father of Indexing” and creator of quantitative tactical asset allocation, the statement said. He pioneered index fund management in 1969; linked the dividend discount model with the capital asset pricing model in 1970; and created tactical asset allocation in 1972.

Bernstein, who died last year, was the founder and president of Peter L. Bernstein, Inc., which he established in 1973 as economic consultants to institutional investors and corporations around the world. He was the first editor of the Journal of Portfolio Management and the author of nine books about economics and finance.

John Bogle received the 2010 Richard J. Davis Ethics Award for his fall 2009 Journal of Portfolio Management article, “The Fiduciary Principle: No Man Can Serve Two Masters.” Bogle is the founder of The Vanguard Group, Inc., and president of Vanguard’s Bogle Financial Markets Research Center.

IMCA presented Richard Fullmer with the 2010 Edward D. Baker III Journal Award for his article, “A Framework for Portfolio Decumulation,” which appeared in the summer 2009 issue of Journal of Investment Consulting. Fullmer wrote the article as senior portfolio strategist for retirement income investing for Russell Investments in Tacoma, Wash.

Rex Macey, chief investment officer for Wilmington Trust in Atlanta, received the 2010 Stephen L. Kessler Writing Award for his article, “Of Tulips and Trumpets: Is Time Diversification a Myth or Reality? Does Time Horizon Affect the Tolerance for Risk?” in the January/February 2009 issue of Investments & Wealth Monitor.

Twenty-five-year-old IMCA, which is based in Denver, offers the Certified Investment Management Analyst certification, designed specifically for investment consultants, as well as the Certified Private Wealth Advisor credential for wealth management professionals serving high-net-worth clients. The organization also offers membership, conferences, research and publications to its members.

Read an exclusive interview with John Bogle from the archives of InvestmentAdvisor.com.

Michael S. Fischer (msf7@columbia.edu) is a New York-based financial writer and editor and a frequent contributor to WealthManagerWeb.com.