UK - The National Association of Pension Funds (NAPF) has launched the final version of its best practice principles on investment advice to pension funds.
It explained the principles covered the key client services areas of investment advice, technical competence, team working and dispute resolution, education, training and fees and administration.
The principles are expected to be widely adopted by UK investment consultancies to help support their professional relationships with pension fund clients.
NAPF assessing investment consultants performance working group chairman Mark Hyde Harrison said: "The best practice principles are aimed at forging stronger relationships between investment consultants and their pension fund clients.
"The intention is that they will encourage the provision of high quality investment advice to pension funds."
The assessment tools include a survey of 458 pension schemes, the best practice principles, a balanced scorecard and a pro-forma for comparative data analysis.
Industry Voice: Sponsored by Eaton Vance
This week's top stories included Cardano announcing plans to acquire Now Pensions from a Dutch pension fund later this year.
Royal Bank of Scotland (RBS) faces a £102m impact on liabilities as a result of equalising guaranteed minimum pensions (GMPs), according to its annual results.