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Fiduciary appointments should require independent advice

Patrick McCoy

23 August 2018 • 3 min read

Patrick McCoy says the CMA's proposal for all fiduciary management appointments to go to tender will only work if pension funds take independent investment advice

The Competition and Markets Authority (CMA) has revealed that on average pension funds pay 10 times more for fiduciary management (23 bps) compared to investment consulting (2 bps). Profit margins ...

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