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 oversight service to trustees who are considering or who have chosen to go down a fiduciary management route.
Our briefing note entitled “Investment strategy: is there a role for fiduciary management?” explains why we have chosen 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 might 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.
“A fiduciary manager which advises on the setting of its own mandate and reporting of its own performance is inherently conflicted. Having in place an independent oversight arrangement creates a positive environment for challenging the fiduciary manager, and goes some way to restoring impartiality.”David Clare
Our Fiduciary Management Oversight Service has been designed to bring the independence and impartiality 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.
Does the rationale for holding DGFs still hold true? Lower returns – what are the options? Quantitative Easing (QE) has brought forward future returns and has artificially inflated returns over the past five years.
The Pensions Regulator has published its latest annual statement for schemes currently conducting a valuation. Schemes may face increased deficits and the statement sets out TPR’s expectations of trustees and employers. Read more in our latest blog.
The Government’s Budget announcement of freedom and choice in pensions may have inadvertently created a tax loophole. What should employers need to think about?
On 12 December 2018, the Competition and Markets Authority (CMA) published its final report in relation to its review of the market for investment consulting and fiduciary management services.
We consider the outlook for equities over the long term and the short term, before considering the options available to investors concerned that equities may be due a fall.
The Scotland Act 2012 gives the Scottish Parliament the power to set the Scottish rate of income tax. As a result, since 6 April 2016, Scottish taxpayers have been subject to lower rates of UK income tax.
The CMA has announced its provisional decision on reforms for the supply and acquisition of investment consultancy and fiduciary management services. David Clare, Head of Fiduciary Management Oversight, details what this means for trustees.
We have promoted three of our associates to the position of partner, taking the firm’s total number of partners to 64.
Barnett Waddingham is pleased to announce that its investment consultancy team have been recognised as providing outstanding client relationship quality to institutional investors in the Greenwich Associates’ latest annual study of consultancy services.