IC select welcomes the Competition and Markets Authority (CMA) final report which demands higher standards of governance and greater transparency in trustees’ engagement with investment consultants and fiduciary managers.
However, whilst the final report meets the objectives of the CMA we believe it could have gone further.
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Asset TV's Fiduciary Management Institutional Masterclass now live featuring IC Select's Roger Brown along side Charlotte Tyrwhitt Drake from Kempen Capital Management and Hannah Simons from Schroders.
London,2 October 2018 – the Big Three investment consultants - Aon, Mercer and Willis Towers Watson - have agreed to take part in top-level talks, hosted by governance specialist IC Select, to develop a strategy to show whether they provide value for money to their advisory pension scheme clients.
The other consultants who have so far agreed to participate in the first round of talks are Cardano, KPMG, Redington, River and Mercantile, and Momentum. Discussions with further firms are ongoing.
CMA Report marks turning point in drive for transparency and good governance
London, 18th July 2018 – Advisory firm IC Select welcomes the CMA provisional decision report and support the decision not to split up the investment consultants which we felt would have been detrimental to the investment services that many pension funds receive from them.
Peter Dorward, Managing Director, IC Select, commented: “Overall we believe the report and the process of discussion with the industry has changed attitudes towards transparency for the better by investment consultants and fiduciary managers. The remedies proposed will ensure that as the process moves forward from here, these transparency gains are not lost”.