UK - Berkeley Berry Birch has moved its employee benefits division into a separate company.
The firm, Berry Birch and Noble Employee Benefits, will target small to medium-sized businesses paying a premium price for advice but receiving a “less than satisfactory” level of service.
Chief executive John Wilken said: “Most employers are not making best use of their benefits packages and are often paying too much for what is not valued by the employees.”
The new company will offer employee benefits consultancy, pension scheme administration, trusteeship, trustee training and independent trusteeship. It will work on either a fee or commission basis.
Standard Life has increased exposure to risk assets in three out of five funds in its Active Plus and Passive Plus workplace pension ranges.
Some 48% of employers are unaware of the services or help they offer to members of their defined contribution (DC) schemes, according to Aon.
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