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 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 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.

"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."
Peter Daniels

FM Evaluate has been designed to bring the independence and impartiality required to give trustees confidence in their fiduciary management arrangement.

We can add value for trustees in the following areas:

  • training and education – we help trustees understand the different investment governance framework approaches, as well as the different types of fiduciary models, and help work out what is right for them
  • fiduciary manager selection – we help trustees consider the full range of different fiduciary management models and short list providers which will best meet our clients’ needs
  • setting the mandate – we help restore impartiality back to the setting of the fiduciary manager’s mandate by ensuring that appropriate performance benchmarks and investment guidelines are in place
  • performance monitoring – we help trustees judge whether their fiduciary manager is adding value as well as providing a platform for positive challenge, again helping to restore impartiality.

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.

Need expert help?

For further information or to view our latest FM Evaluate service document, please contact Peter Daniels.

Get in touch with Peter