Fiduciary management

A ground-breaking disclosure standard to help trustees compare fiduciary managers in the selection process has been unveiled, putting an end to three years of talks.

The time and costs involved in the process of tendering and/or switching a fiduciary manager can be 'considerable' and may make it more difficult for schemes to assess value for money and switch provider.

The CMA's latest working paper finds trustees are very likely to choose their existing investment consultant for a fiduciary management mandate without third-party advice, James Phillips reports

The industry has welcomed the Competition and Markets Authority's (CMA's) working paper on the information available to trustees on the fees and quality of investment consultants and fiduciary managers.

The Competition and Markets Authority (CMA) has released a working paper detailing its analysis around the information available to trustees on the fees and quality of investment consultants and fiduciary managers.

Muse Advisory has appointed Chris Fagan as associate director to expand its governance team and help grow its UK advisory offerings.

The proportion of schemes using independent advisers to appoint a fiduciary manager has risen to 60%, according to KPMG's 2017 survey.

The National Farmers' Union of England and Wales (NFU) Staff Pension Scheme has appointed Russell Investments as fiduciary manager after an open tender.

The Competition and Markets Authority has (CMA) set out the coverage of its "thorough and independent" investigation of investment consultants and fiduciary managers, and what action it could decide to take.

The market is now under investigation by the competition watchdog following the FCA's decision to recommend a probe, writes Stephanie Baxter