Barnett Waddingham has today launched a new fiduciary management oversight service covering fiduciary manager selection, overseeing the setting of the fiduciary mandate and monitoring fiduciary manager performance.
But the consultancy says it will not become a fiduciary management provider as it believes such a move could compromise its independence.
Barnett Waddingham partner David Clare says: “Barnett Waddingham are not entering the market as a provider of fiduciary management services, as we believe we can best meet our clients’ needs by remaining truly independent from asset management decision making. It is effective decision making at the strategic level that will have the biggest influence on investment outcomes, and we strongly believe that trustees can achieve this through an independent advisory framework.
“That said, we recognise that in particular cases fiduciary management can provide the right fit. In these cases, having in place an independent oversight arrangement creates a positive environment for challenging the fiduciary manager which, in turn, goes some way to restoring impartiality in the management of the pension scheme assets. Our independence and investment expertise means we are perfectly placed to offer this service.”