This article was published in Pensions Expert, by Angus Peters | October 2, 2019
Selecting a fiduciary manager is just like marriage: you want to take time to select the right partner. Trust comes from knowing people well and seeing them often. Much like selecting a partner for life, you want to know the whole family (firm), not just the edited bits online (the beauty parade that many rely on in selection).
IC Select have teamed up with Pi Consulting, the London based independent pensions consulting firm, to help trustee boards of DB pensions schemes select fiduciary managers. It’s estimated that over 500 schemes will need to competitively tender for fiduciary manager services over the next two years.
The CMA Orders require trustee boards of pension schemes to set clear strategic objectives by 10th December 2019. If this is not done the trustees cannot take advice from their investment adviser. Trustees need to act now – time is running out!
IC Select, the fiduciary management specialists, have appointed pension veteran John Paterson as director following rapid growth in demand for its services. John, who joins from JLT Group a leading investment and actuarial consultancy, brings over 30 years’ experience of actuarial work, investment strategy and interaction with trustee boards. His technical and investment experience adds to the 100 years of investment and pension fund experience possessed by IC Select’s team. The hire follows a surge in demand for independent advice following the Competition and Markets Authority Review (CMA Review) into investment consultants and fiduciary managers.
IC Select like others are experiencing a sharp uptick in demand for tenders and oversight from trustees of DB Pension Schemes following the recent issuance of the CMA orders. Click here to read more!