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Professional Pensions: Is your investment adviser firing on all cylinders?

Pension trustees should be continuously running the slide rule over their investment consultant or fiduciary manager. It’s the best way to ensure that their adviser remains the right one and is delivering value for money. This oversight should also extend to the investment portfolio, which after all accounts for 80% of the total costs of pension scheme ownership. 

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This article was published in Professional Pensions| 22 June, 2022

You wouldn’t expect to buy a new car without first taking it for a test drive. Likewise, any car owner knows that they’ll get the best from their vehicle if they service it regularly and keep it in a state of good repair. Given the complexity of modern engines, for most of us that means bringing in the mechanic.

Each of these arguments holds equally true for defined benefit pension schemes, trustees and their investment advisers, whether they be consultants or fiduciary managers. For the avoidance of doubt, in this analogy trustees own the car, and they need to be sure that they are sitting in the driver’s seat and not at the side as a passenger.