Edinburgh, 3 December 2019 – IC Select service to empower trustees ahead of CMA Orders December 10 deadline
IC Select, the investment advisory specialists, has launched a new service that will for the first time allow trustees to measure the success of their investment advisors.
Published in IPE - 27 November 2019 by
The £4bn (€4.7bn) UK Power Networks Group of the Electricity Supply Pension Scheme (ESPS) has appointed BlackRock as fiduciary manager, following a competitive tender process run by IC Select.
Assessing your investment adviser has always been challenging! The CMA Orders demanding greater transparency of performance, fees and strategic investment objectives changes all that. Creation of a Balanced Scorecard to measure success and help judge value for money puts DB trustees in control. After all what gets measured, gets done!
You must set strategic objectives for your investment adviser before 10th December this year. If this is not done before 10th December 2019 then you will not be able to continue to receive investment advice from your investment adviser. This applies to both Defined Benefit (DB) and Defined Contribution (DC) arrangements and also applies to advice received as part of a fiduciary management or delegated investment mandates.