Providing independent evaluation of fiduciary management services
The fiduciary management market has grown considerably over recent years and has brought with it new challenges for pension scheme trustees to address.
While Barnett Waddingham has no intention to enter the market as a provider of fiduciary management services, we are ideally placed to provide an expert independent fiduciary management oversight service to trustees who are considering or who have chosen to go down a fiduciary management route.
Careful analysis of our services and client needs has reinforced our decision to remain independent and to not provide a fiduciary management service.
In essence, we strongly believe that if you get your investment decision making framework right then positive investment outcomes will follow. For some this may mean a fiduciary management approach, but our view is that – in most cases – this is best achieved in an environment where the organisations which advise on and implement your investment strategy are independent.
However, we recognise the growth of the fiduciary management market, and that in some cases a provider will offer a service which is the right fit for a particular scheme. In these cases, we strongly believe that the role of independent oversight is essential when hiring a fiduciary manager, setting its mandate and monitoring its performance.
"The service we deliver goes way beyond just oversight and draws from our expertise as one of the UK’s leading independent investment consultancies. Investment performance analytics is a key part of what we do, but it is our long track record in advising on strategy and trustee decision making which enables us to critically evaluate a client’s existing or potential fiduciary management arrangements. Through FM Evaluate, trustees and sponsors can ensure that their pension scheme’s investments are being implemented in the most effective and cost-effective way."
FM Evaluate has been designed to bring the independent and impartial oversight required to give trustees confidence in their fiduciary management arrangement.
Our service to each set of trustees is bespoke to their specific requirements. We believe this is essential since the expertise and needs of different trustee boards vary considerably.
For further information or to view our latest FM Evaluate services document, please contact Peter Daniels.